SANTA FE, N.M., Dec. 21, 2010 /PRNewswire/ -- Sigma Labs, Inc. (OTC Bulletin Board : SGLB ) announced today it was awarded a new munitions development contract from the US Department of Defense that seeks new, lighter weight, munitions solutions capable of more energy on target and reduced collateral damage.
Mr. Richard Mah, CEO of Sigma Labs, Inc., stated that: "Current munitions are 30 percent high explosive and 70 percent steel, or extra weight being carried around that releases no energy. This steel often ends up as shrapnel and causes unintended casualties. We believe that our patent-pending technology will turn this ratio on its head – allowing weapons to carry twice as much energetic material for every pound of weapon delivered, or to pack the same explosive punch in a much smaller weapon. It will also enable a new class of 21st Century munitions for precision delivery."
Sigma Labs, Inc. is working with a commercialization partner, one of the largest munitions producers in the United States. Mr. Mark Cola, President of Sigma Labs, Inc., believes that: "The close working relationship we have with our commercialization partner could enable more rapid deployment of this technology to the defense market and greater participation in current or future weapons programs of record."
About Sigma Labs, Inc.
Sigma Labs, Inc. is comprised of leading scientists and engineers out of the Los Alamos National Laboratory, with over 50 years of combined experience. Management has previously done business with Fortune 100 defense and aerospace firms, USAF, US Army and other major organizations. B6 Sigma currently has a number of ongoing contracts with both the military and private industry. Sigma Labs, Inc is aggressively commercializing advanced sensing, software, materials technologies and other unique manufacturing processes for the defense, aerospace, and general industries.
This news release contains forward-looking statements that reflect Management's current views about future events and financial performance. 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 and uncertainties that may cause actual results and events to differ materially from those projected in the forward-looking statements. Risks and uncertainties that could adversely affect us include, without limitation, the loss of major customers, our failure to obtain new contracts, our inability to patent products or processes, our infringement of patents held by others, our inability to finance our business and the other risks and uncertainties that are discussed in our most recent filings with the Securities and Exchange Commission, including our Report on Form 8-K that was filed in connection with the transaction we recently completed with B6 Sigma. The forward-looking statements in this news release are made only as of the date of this news 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.