New Partnership with Northwestern University Expands In-Process Quality Assurance Technology Across a Broad Array of 3D Printing Processes
SANTA FE, NM / ACCESSWIRE / October 21, 2020 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software for the commercial 3D metal printing industry, announced the newly formed partnership for the development and expansion of its industry leading PrintRite3D In-Process Quality Assurance technology for an application to powder-blow Directed Energy Deposition (DED) additive processes. Sigma Labs has developed the hardware and software and will validate the technology in partnership with Northwestern University, who acquired the first PrintRite3D DED system. The beta system will be installed onto the customized open-architecture DED system, named Additive Rapid Prototyping Instrument (ARPI) system located at Northwestern's Advanced Manufacturing Processes Laboratory (AMPL). Sigma Labs is seeking additional commercial DED machine OEM partners to expand the beta testing program.
DED has been successfully applied in various industries, including aerospace, oil & gas, defense, marine and architecture. Aerospace manufacturers are increasingly using the technology to produce structural parts for satellites and military aircraft. According to Autonomous Manufacturing, Lockheed Martin was able to use the technology to reduce production time on a critical component by 87% and cut lead-time from two years to three months.
"OEM's have seen an increase in demand of the directed energy deposition machine ranging from high-level R&D projects to the production of prototype and production parts, many of which are for the aerospace industry," said Mark Ruport, Chief Executive Officer of Sigma Labs. "This initiative expands our market opportunity and is the first step in Sigma's strategy to apply our technology across a broad array of Additive Manufacturing processes."
About Sigma Labs
Sigma Labs Inc. (NASDAQ: SGLB) is a leading provider of quality assurance software to the commercial 3D metal printing industry under the PrintRite3D® brand. Sigma specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D® for 3D metal advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process and informs the production manager of quality issues. Sigma Labs believes its software product will be a major catalyst for the acceleration and adoption of 3D metal printing. For more information, please visit www.sigmalabsinc.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including, but not limited to, the uncertain effect of the COVID-19 pandemic on Sigma Labs' business, results of operations and financial condition, which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K (including but not limited to the discussion under "Risk Factors" therein) filed with the SEC on March 24, 2020 and which may be viewed at www.sec.gov
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Media Contact:
Investor Contact:
Chris Tyson
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Steven Gersten
Sigma Internal IR
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SOURCE: Sigma Labs, Inc.