Sigma Labs, Inc. Announces The Signing Of A Joint Venture Agreement With Fortune 100 Aerospace Company Relating To PrintRite3D™
SANTA FE, N.M., April 24, 2013 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) announced today that it has signed a Joint Technology Development Agreement (JTDA) with a Fortune 100 aerospace manufacturer for the purpose of collaborating on Sigma Labs 3D additive manufacturing systems. The agreement will accelerate the development and commercialization of products based on Sigma Labs core IPQA® technology, a.k.a., PrintRite3D™.
Sigma Labs' partner currently is making significant and industry-leading advances in 3D printing technology, primarily for aviation & aerospace metal components. 3D metal printing technology is a process that involves taking digital designs from computer aided design (CAD) software, and laying horizontal cross-sections to manufacture the part.
Mark Cola, President and Chief Executive Officer of Sigma Labs, stated, "We are pleased to have signed the agreement and to begin the next phase in demonstrating our PrintRite3D™ capabilities for additive manufacturing of metal parts. The signed agreement achieves a major milestone for Sigma Labs with the inclusion of our PrintRite3D™ systems in a leading aerospace company's 3D, additive manufacturing devices. Our partner is a worldwide leader in fully exploiting the benefits of additive manufacturing and 3D printing for the aerospace industry as well as many other commercial areas. Together, we will be focusing our efforts in working to assure the build quality and as-built repeatability of the 3D printing process, thereby ensuring predictable materials properties critical to successful product commercialization."
Dr. Allen Mason, Chairman of the Board for Sigma Labs and a retired U.S. Air Force Brigadier General, added that, "Our joint venture partner clearly views additive manufacturing as a game-changing technology. As more advanced materials are developed for the military and civilian jet propulsion and aerospace industry, producing large and small engine parts with these materials increasingly requires proprietary, highly sophisticated manufacturing quality assurance technology such as our PrintRite3D™ technology."
In related news, Sigma Labs is in final discussions with Interactive Machines, Inc. to complete a joint venture agreement between the two companies to complete the breakthrough 3D metal prototype machine previously announced on March 14, 2013.
About Sigma Labs, Inc.
Sigma Labs, Inc. has three wholly-owned subsidiaries – B6 Sigma, Inc., Sumner & Lawrence Limited (dba Sumner Associates) and La Mancha Company. B6 Sigma develops advanced manufacturing solutions and materials technologies, as well as R&D solutions for first-tier integrators and other commercial firms worldwide. Sumner Associates and La Mancha provide high-level consultants to Federal government and commercial clients seeking productive solutions for emerging and strategic development technologies. Sigma Labs has current contracts with Federal government and private industry clients to provide high-level consultants and develop technologies from their conception through the design, building, and testing of prototype systems. 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.