FORD Forward Industries Inc

Intelligent Product Solutions (IPS) today announced that it received a New York Product Design award, for its product design work on the EON Laser, a FDA-cleared, touch-free, and pain-free fat reduction device by Dominion Aesthetic Technologies. A global product design and development firm, Intelligent Product Solutions is a subsidiary of Forward Industries (NASDAQ: FORD).

The New York Product Design awards honor the efforts of talented product designers, design teams and manufacturers from all over the world. It recognizes the contributions they have made to daily living, with their practical and ingenious creations.

“At IPS, we’re proud to receive this award for our innovative medical device design of this revolutionary product,” said Bob Wild, CEO of Intelligent Product Solutions. “Working with Dominion Aesthetic Technologies, together we are redefining the future of aesthetic medicine, leveraging our expertise in product design.”

The EON Laser introduces revolutionary technology in subcutaneous fat reduction, offering patients the industry's first touch-free and painless treatment option, delivering safer outcomes and eliminating recovery time. Utilizing laser energy, the EON Laser locally raises the temperature of subcutaneous fat, triggering lipolysis (the breakdown and metabolization of adipose tissue) while simultaneously cooling the skin, offering patients a pain-free alternative with unprecedented results. The scientifically proven EON Laser has received multiple FDA clearances and can be found at esthetic surgery centers and med-spas across the United States, offering patients a non-invasive alternative to liposuction and other surgical interventions.

“It's such a wonderful surprise to learn that EON has be recognized for its beautiful design,” said Janet Campbell, founder and Chairman of the Board, Dominion Aesthetic Technologies. “It couldn't have been possible without the support of Intelligent Product Solutions. We are excited about the future of EON delivering the first of its kind non-invasive robotic fat reduction treatments. EON is dedicated to providing incredible patient outcomes with the safest fat reducing treatment available.”

About Intelligent Product Solutions

Intelligent Product Solutions (IPS), a subsidiary of Forward Industries (NASDAQ: FORD), is an award-winning global product design and development company with headquarters in New York. IPS offers a full range of expert product design and engineering services, with an expertise in medtech and wearable technology solutions. Its clients are among the leading brands in consumer electronics and medical devices, including Neuvotion, Google, Verizon, Zebra Technologies and Steinway. To learn more about IPS, visit https://intelligentproduct.solutions or contact info@ips-yes.com. Visit IPS on social media:https://www.linkedin.com/company/intelligent-product-solutions/

For more media information, contact:Lisa Hendrickson, LCH Communications for IPSLisa@lchcommunications.com516-643-1642

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/658ffae2-c750-4b47-adef-8c928e2c65fc