Sigma Labs, Inc. Receives Contract From Los Alamos National Laboratory For Advanced Manufacturing Technology As Part Of Larger National Security Program
SANTA FE, N.M., Oct. 25, 2013 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) today announced that it received from Los Alamos National Laboratory a second contract to provide Sigma Labs' advanced manufacturing technology and continuing support efforts in nuclear weapons stockpile stewardship and disposition for the Advanced Recovery and Integrated Extraction System (ARIES). The ARIES program is the only program in the nation that disassembles and destroys surplus plutonium pits. The pits are transformed into plutonium oxide powder suitable for being made into fuel for civilian nuclear reactors. The ARIES Program is based on an agreement between the United States and the Russian Federation to eliminate 34 metric tons of weapons grade materials and turn them into nuclear fuel thereby reducing the threat of global weapons proliferation. Sigma Labs expects this contract with Los Alamos National Laboratory to generate up to $178,800 in revenues.
Mark Cola, President and Chief Executive Officer of Sigma Labs, stated , "This latest contract is one in a series of awards that validates our expertise and our ability to deliver solid technical results to the most demanding applications in the world, namely U.S. National Security and reducing the threat of weapons proliferation."
Mark also added, "This latest contract is part of a broader engagement strategy that Sigma Labs is implementing with the U.S. National Laboratories covering advanced manufacturing technology areas ranging from additive manufacturing and 3D printing to critical U.S. National Security objectives such as ARIES."
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers 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.