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SANTA FE, N.M., Aug. 13, 2019 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (NASDAQ: SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, has been selected by a major international OEM machine manufacturer to install the company’s proprietary PrintRite3D® products. As part of the agreement, the OEM will complete Sigma’s Rapid Test and Evaluation program and will install the PrintRite3D® in two different countries for analysis and proof-of-performance purposes.
Under the program, Sigma Labs will provide on-site equipment and in-depth technical support teaming with the OEM to demonstrate PrintRite3D®’s capability to boost 3D Metal Additive Manufacturing Machine (“AM") performance to significantly improve and sustain machines’ yield of high quality parts by providing in-process third party, independent quality assurance. The objective of the two RTEs is to prove a business use case on-site that clearly demonstrates the value of PrintRite3D INSPECT® to characterize materials, differing machines, product-specific processes, and provide a logical starting point for Sigma and the OEM to work more closely together in the future.
John Rice, Chairman and CEO of Sigma Labs, said, “Having this opportunity to install two PrintRite3D® Rapid Test and Evaluation units with an OEM that is one of the most respected machine manufacturers in the world, renowned for the precision and quality of its equipment is an important benchmark for Sigma Labs.
“Moreover, this OEM is one of the most renowned brands in the industry and has long been a leading pioneer of in-process machine quality and process controls on a vast number of its high precision manufacturing machines even before the company’s diversification into additive manufacturing, so we believe that our in-process tools are an excellent fit to both the technology and very high quality culture of this great company. We look forward to providing a granular update on our progress after the conclusion of the RTE program in the fourth quarter of 2019,” concluded Rice.
PrintRite3D is an in-process-quality-assurance tool that monitors the laser meltpool in order detect precursors and avert quality discontinuities. The OEM partner is one of the most renowned brands in the industry and has long been a leading pioneer of in-process machine quality and process controls on a vast number of high precision manufacturing machines even before its diversification into additive manufacturing.
About the OEM
As a global machine manufacturer with many decades of experience in the manufacturing of high precision and high-volume metal processing machines, the OEM represents innovative manufacturing technologies and worldwide service. The Company’s AM product line includes specialized equipment developed for volume production.
About Sigma Labs
Sigma Labs, Inc. is a provider of quality assurance software under the PrintRite3D® brand and a developer of advanced, in-process, non-destructive quality assurance software for commercial firms worldwide seeking productive solutions for advanced manufacturing. For more information please visit us at www.sigmalabsinc.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Annual Report on Form 10-K (including but not limited to the discussion under “Risk Factors” therein) filed with the SEC on April 17, 2018 and which may be viewed at http://www.sec.gov.
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