HOUSTON, June 26, 2018 (GLOBE NEWSWIRE) -- C-Bond Systems, currently trading as WestMountain Alternative Energy, Inc. (collectively, the “Company” or “C-Bond”) (OTC:WETM), a nanotechnology company that improves and strengthens brittle materials, today announced it has completed successful pilot studies of its C-Bond NanoShield windshield strengthening product with two leading rental car companies. The rental car companies tested C-Bond NanoShield on more than 6,500 vehicles in and around the Denver market.
C-Bond NanoShield, commercially launched in January 2018, is a patent-pending nanotechnology windshield glass strengthening solution that can also include a hydrophobic (water repellent). It improves windshield safety by increasing chip and crack resistance. The application process is quick and simple: C-Bond is sprayed directly on the windshield and then squeegeed off. NanoShield has no direct competition.
The insurance industry reports windshield glass damage as one of the most common claims in the U.S. With over 250 million registered vehicles and windshield damage claim rates at approximately 7%, this problem costs insurers over $4 billion dollars annually. Further, newer vehicles with increased windshield technology content such as Head-Up Display (HUD) are driving up replacement costs even more.
“With more than 15 million windshields being repaired or replaced each year in the U.S., NanoShield offers a cost-effective solution to a very expensive and common problem,” stated Scott R. Silverman, the Company’s Chairman and CEO. “NanoShield is an innovative yet easy way for rental car and trucking fleets, insurance carriers, and all car owners to protect themselves and save money.”
The rental car companies initiated the pilot studies of C-Bond NanoShield as a means of reducing maintenance costs for windshield damage and minimizing vehicle downtime. Following the successful completion of these first two pilot programs, the rental car companies plan to initiate further testing and evaluation of NanoShield.
C-Bond is engaged in the implementation of proprietary nanotechnology applications and processes to enhance properties of strength, functionality and sustainability of brittle material systems with a strong focus in the glass industry. The C-Bond™ technology enables ordinary glass to dissipate energy by permeating the glass surface and detecting microscopic flaws and defects that are randomly distributed over the glass surface. C-Bond’s unique qualities then work to locate and repair the identified surface imperfections that weaken the glass composite structure and ultimately act as failure initiators.
About C-Bond
C-Bond Systems, LLC, headquartered in Houston, Texas, is an advanced nanotechnology company and 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, or Twitter.
Statements in this press release about our future expectations, including the likelihood that with over 250 million registered vehicles and windshield damage claim rates at approximately 7%, this problem costs insurers over $4 billion dollars annually; the likelihood that newer vehicles with increased windshield technology content such as Head-Up Display (HUD) are driving up replacement costs even more; the likelihood that NanoShield is an innovative yet easy way for rental car and trucking fleets, insurance carriers, and all car owners to protect themselves and save money; the likelihood that the rental car companies plan to initiate further testing and evaluation of NanoShield; 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 flat 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 8-K filed on May 1, 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.