SANTA FE, N.M., Jan. 23, 2014 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) announced today that its wholly-owned subsidiary, B6 Sigma, Inc., was a participant on the winning team of companies and universities to be awarded an "America Makes" additive manufacturing research project from The National Additive Manufacturing Innovation Institute (NAMII) for Sigma Labs proprietary In-Process Quality Assurance™ (IPQA®) System for monitoring of additive manufacturing (AM) and 3D Printing (3DP). According to America Makes, "This project addresses the need for the development of a commercially available, platform-independent Quality Assurance technology for high-volume AM production of aerospace components, which technology is currently lacking within the industry." Further, Sigma Labs expects to generate up to $750,000 in revenues over the next 18 months from this project. Additional information on the project can be found at https://americamakes.us/news/item/475-second-projectcall-awardees.
Mark Cola, President and Chief Executive Office of Sigma Labs, stated that, "We are quite pleased to have been chosen along with our partners by the premier AM and 3DP association to participate in accelerating commercialization of our quality assurance technology. This award further establishes Sigma Labs as an organization that is growing in stature along with the major players in the field of AM and 3DP."
According to America Makes Director and NCDMM Vice President Ed Morris, "We were very pleased by the quality of the projects proposed by our members for this second round of additive manufacturing R&D projects being launched, which of course made the final selection process even more challenging. Combined with the projects underway from our first project call, we will soon have nearly $30 million of public and private funds invested in advancing the state-of-the-art in additive manufacturing in the United States."
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers real-time, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for additive manufacturing and 3D 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.
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. 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.