SANTA FE, N.M., Jan. 15, 2015 /PRNewswire/ -- Sigma Labs, Inc. (OTCQB: SGLB) ("Sigma Labs" or the "Company"), a developer of advanced, in process, non-destructive quality inspection systems for metal-based additive manufacturing and other advanced manufacturing technologies, today announced that it has been granted its first contract, worth approximately $500,000, from GE Aviation as a member of the winning team, previously announced, of companies and universities awarded an "America Makes" additive manufacturing (AM) research project. This project is funded by the National Additive Manufacturing Innovation Institute (NAMII) and covers Sigma Labs' proprietary In-Process Quality Assurance (IPQA®) software for advanced AM monitoring. The contract will showcase the Company's PrintRite3D® technology across multiple platforms, in particular high-volume, high-quality aerospace components. Sigma Labs is expected to deploy a total of three systems – one each to GE Aviation and to other team members Honeywell and Aerojet Rocketdyne, a unit of GenCorp – over the next 18 months.
"We are very pleased to announce this first contract under our previously-announced award with NAMII," said Mark Cola, President and Chief Executive Officer of Sigma Labs. "Working with some of the best known companies in the industry, including GE Aviation and Honeywell, we will use this project to further demonstrate our PrintRite3D® technology and provide for additional data collection. We believe awards such as this open up the way for business development opportunities and, at the same time, strengthen Sigma Labs' position in the nascent yet rapidly-growing AM space."
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, in-process, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for metal-based additive manufacturing or 3D printing, and other advanced manufacturing technologies. For more information please visit us at www.sigmalabsinc.com.
About America Makes
America Makes is the National Additive Manufacturing Innovation Institute. As the national accelerator for additive manufacturing and 3D printing, America Makes is the nation's leading and collaborative partner in AM and 3DP technology research, discovery, creation, and innovation. Structured as a public-private partnership with member organizations from industry, academia, government, non-government agencies, and workforce and economic development resources, we are working together to innovate and accelerate AM and 3DP to increase our nation's global manufacturing competitiveness. Based in Youngstown, Ohio, America Makes is the pilot institute for up to 45 manufacturing innovation institutes and is driven by the National Center for Defense Manufacturing and Machining (NCDMM). For more information about America Makes, visit http://americamakes.us.
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 and documents subsequently filed by the Company with the Securities and Exchange Commission. 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.
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SOURCE Sigma Labs, Inc.