SAN ANTONIO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a developer and marketer of glass strengthening solutions for enhanced safety, announced today it is seeing increased demand for its bullet-resistant and forced entry-resistant film systems, which are now installed in 165 Texas schools, as evidenced by its backlog of more than $3.3 million. Due to this rising demand, the Company, through its Patriot Glass Solutions subsidiary, is broadening its efforts to market to glass and glazing contractors and end customers such as schools outside the State of Texas.
Schools, hospitals, government, and commercial buildings across the country are seeking more protection from gun violence, riots, forced entry, and smash and grab robberies. Patriot Glass Solutions’ bullet-resistant film system, called C-Bond BRS, is certified by third-party labs to meet National Institute of Justice Level I, Level IIA, Level II, and Underwriters Laboratories (UL) 752 ballistic-resistant protection standards. C-Bond BRS is more affordable than bulletproof polycarbonate and is simple to install.
Patriot Glass Solutions’ ballistic-resistant film system continues to gain traction in Texas, which has passed a school mandate for safer windows and fences. According to the Texas Education Agency, the Texas legislature has provided new funding for school safety totaling $1.4 billion, including $1.1 billion in one-time funding through a supplemental appropriations bill to address new minimum school safety standards and other facilities-related safety improvements.
Texas has taken the lead in seeking to protect schools from gun violence, and now other states are following suit and seeking to protect schools, government, and commercial buildings. It was recently reported that the State of Florida is spending over $60 million to install bullet proof windows in the state capitol. Missouri is proposing that all schools be fitted with bullet-stopping doors and windows at entry points. Oakland, California, is seeing a rise in demand for bulletproof glass due to rising crime. A Virginia school district announced that it will add ballistic film to all of its school’s entry points to deter attackers from entering the facilities. Hospitals across the nation are calling for bulletproof glass to help stop a sharp rise in gun violence in hospitals.
Government and commercial buildings across the country are also a segment with a growing need for ballistic protection. The global bulletproof glass market is projected to grow from $7.37 billion in 2022 to $14.90 billion by 2029, at a CAGR of 10.6%. Although Patriot Glass Solutions does not sell polycarbonate, we believe our C-Bond BRS is less expensive and more aesthetically pleasing than traditional bulletproof materials. The Company is currently installing one of its largest commercial ballistic-resistant projects to date, which is more than $700,000.
Scott R. Silverman, Chairman and CEO of the Company, said, “2023 was a record year for C-Bond Systems, creating a backlog in excess of $3 million. We are committed to substantial revenue growth in 2024 and beyond as our marketing efforts take hold.”
The Company expects the majority of its backlog to be installed in 2024, but some installations could stretch into 2025 since certain projects are new construction.
Patriot Glass Solutions protects personal, commercial and government property from looting, smash-and-grabs, break-ins, and gunfire. Its leading products are C-Bond BRS and C-Bond Secure.
To see a demonstration of Patriot Glass Solutions’ security products, watch our video at: https://bit.ly/3l93oZV
For more information about Patriot Glass Solutions’ products, please call 844-602-2663 or email Michael Wanke at mike@patriotglasssolutions.com.
About C-Bond
C-Bond Systems, Inc. (OTC: CBNT) is a San Antonio-based nanotechnology company and marketer of the patented C-Bond technology, which is independently proven to strengthen glass in architectural applications. The Company’s Patriot Glass Solutions subsidiary sells ballistic-resistant glass solutions and forced entry deterrent solutions to private enterprises, schools, and government agencies. For more information, please visit our websites: www.cbondsystems.com, www.patriotglasssolutions.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBondSys and https://twitter.com/Patriot_Glass.
Forward-Looking Statements
Statements in this press release about our future expectations, including the likelihood of continued growth in commercial and educational sectors; the likelihood that the global bulletproof glass market is projected to grow from $7.37 billion in 2022 to $14.90 billion by 2029; the likelihood that we will reach revenue of $4 million in 2024; the likelihood that we expect the majority of our backlog to be installed in 2024, but some installations could stretch into 2025 since certain projects are new construction; 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, the Company’s ability to successfully commercialize its products; the likelihood that schools will comply with the Texas Education Agency’s rule on school safety; the Company’s and its customers’ ability to source materials; construction delays; film delays; the Company’s ability to raise capital; regulatory risks; 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 March 31, 2023, its Forms 10-Q filed on November 14, 2023, August 14, 2023, and May 15, 2023, 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.
Contact:
Allison Tomek
C-Bond Systems
atomek@cbondsystems.com
