SANTA FE, N.M., Dec. 23, 2013 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB), a developer of advanced, real-time, non-destructive quality inspection systems for 3D metal printing and other advanced manufacturing technologies, today announced the development of technology to support a low-cost, 3D metal printer based on arc welding technology. As part of this initiative, key strategic alliances have been established, including with respect to a Memorandum of Understanding (MOU), entered into as of December 20, 2013, by Sigma Labs and Michigan Technological University (Michigan Tech). The MOU with Michigan Tech sets forth the parties' intent to collaborate technically in the development of technology for a low-cost, 3D metal printer for near-net shape parts that require only 3- or 5-axis machining to take the parts to final form.
Mark Cola, President and Chief Executive Officer of Sigma Labs, stated that "Michigan Tech has recently developed an open source 3D printer based on gas metal arc welding technology. Sigma Labs has a unique knowledge base in advanced sensing and process control for gas metal arc welding. The enabling technology for the contemplated new product would be based on our proprietary and patent-protected PrintRite3D® quality control and sensing technologies. Along with strategic partners, we intend to develop, test, and launch a customized, low-cost 3D printing solution for metals like titanium, steel, aluminum, and nickel-based alloys. Our low-cost printing technology is directly focused at servicing the currently untapped market of tens of thousands of users presently dissuaded by the high-cost, barriers to entry of 3D laser powder-bed solutions. Lastly, we have identified manufacturing sources capable of producing our low-cost 3D printing technology."
Pursuant to the MOU, neither Sigma Labs nor Michigan Tech is obligated to take any action until a mutually acceptable agreement has been executed by the parties. There can be no assurance, however, that the parties will enter into such a definitive agreement.
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, real-time, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for 3D metal printing and other advanced manufacturing technologies. Sigma Labs' other wholly-owned subsidiary, Sumner & Lawrence Limited, provides high-level scientific consultants to Federal government clients seeking productive solutions for emerging and strategic development technologies. For more information please visit us at www.sigmalabsinc.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "believes" or "will." Our forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in our most recent annual report on Form 10-K. The forward-looking statements in this press release are made only as of the date of this press release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Sigma Labs, Inc.