Article stresses the increasing expense and importance of repairing windshields with advanced driver assistance systems, which can cost more than $2,000 to replace
HOUSTON, April 11, 2019 (GLOBE NEWSWIRE) -- C-Bond Systems (the "Company" or "C-Bond") (OTC:CBNT), a nanotechnology solutions company that improves and strengthens glass, announced today that C-Bond NanoShield™ offers a cost-effective solution to the increasingly expensive problem of windshield repair and replacement highlighted by a recent New York Timesarticle. C-Bond NanoShield is a patented, nanotechnology windshield strengthening product that is proven and independently validated to reduce windshield repair and replacement costs.
The article, which can be read at: https://www.nytimes.com/2019/02/07/business/windshield-repairs.html, underscores the expense, difficulty and importance of properly repairing or replacing windshields equipped with advanced driver assistance systems ("ADAS"), which include features such as automatic emergency braking, stability control, lane departure warnings, and collision avoidance. These windshields can cost more than $2,000 to replace.
In third-party validations and independent pilot studies of C-Bond NanoShield, the nanotechnology windshield strengthener has been shown to decrease repair and replacement costs by up to 80%.
C-Bond NanoShield offers advanced windshield protection by permeating the glass surface and detecting and filling the microscopic flaws and defects randomly distributed all over the glass surface. The liquid product is sprayed directly onto a windshield and then wiped off using a squeegee. The strengthening process begins immediately upon application and continues while the material cures in the following days. C-Bond NanoShield is also available with a hydrophobic (water repellent).
Scott R. Silverman, C-Bond's Chairman and CEO, stated, "As windshields with ADAS become more widespread, we believe drivers and insurers are going to become more adamant about improving the strength of windshields for financial and safety reasons. With C-Bond NanoShield, we provide a unique and cost-effective way to do that."
According to the New York Times article, "Replacing a cracked or chipped windshield, for example, in a car with automatic emergency braking, adaptive cruise control and lane-departure warning systems could cost as much as $1,600. Furthermore, many cars are now bristling with embedded ultrasonic and radar sensors. So a relatively minor driving misjudgment that damages a side mirror and rear bumper could require fixing rear radar sensors used with blind-spot monitoring and rear cross-traffic alert systems. The price? As high as $2,050."
The number of vehicles with ADAS is expected to increase going forward given that all major automakers have committed to making automatic emergency braking systems, which is a component of ADAS, standard equipment in all vehicles by 2022.
C-Bond NanoShield is a cost-effective solution that reduces windshield repair and replacement, which, according to the Insurance Journal, is the number one insurance claim in the United States, representing 30% of auto insurance claims. This is estimated to cost insurers more than $4 billion annually.
C-Bond NanoShield is marketed to new car dealers, automotive aftermarket suppliers, fleets including rental cars, and other outlets.
C-Bond Systems, Inc., headquartered in Houston, Texas, is a nanotechnology solutions company that improves and strengthens glass. It is the sole owner, developer and manufacturer of the patented C-Bond technology. C-Bond is the ONLY patent-protected nanotechnology product that is scientifically tested and commercially proven to significantly increase the strength, safety and performance levels of glass and window film products. For more information visit us at www.cbondsystems.com, on Facebook, Twitter, or LinkedIn.
Statements in this press release about our future expectations, including the likelihood that C-Bond NanoShield offers a cost-effective solution to the increasingly expensive problem of windshield repair and replacement; the likelihood that as windshields with ADAS become more widespread, drivers and insurers are going to become more adamant about improving the strength of windshields for financial and safety reasons, the likelihood that windshield repair and replacement is the number one insurance claim in the United States, representing 30% of auto insurance claims and costing insurers more than $4 billion annually; the likelihood that this order gives us added validation in new markets; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, C-Bond's ability to raise capital; the Company's ability to target the automotive glass market; the Company's ability to successfully commercialize its products; as well as other risks. Additional information about these and other factors may be described in the Company's filings with the Securities and Exchange Commission ("SEC") including its Form 10-K filed on April 1, 2019, its Forms 10-Q filed on August 14, 2018 and November 14, 2018, and in future filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Allison TomekC-Bond Systems
6035 South Loop East
Houston, TX 77033
Source: C-Bond Systems