Sigma Labs Forms Strategic Alliance with Morf3D
Significant Revenue Potential for 2017
SANTA FE, N.M., Feb. 22, 2017 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (NASDAQ:SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, today announced that it has signed a commercial alliance with Morf3D to bring enhanced solutions for additive manufacturing (“AM”) to the aerospace and defense (“A&D”) sector. Morf3D, based in El Segundo, California, is an AM product developer specializing in high-level consulting and manufacturing services including conceptualization, optimization, metallurgical examination, certification and data analysis. Leveraging Sigma Labs’ PrintRite3D® quality assurance software, Morf3D will be able to provide a means for customers to increase AM production rates while ensuring consistent part quality. The two companies will also work together to manufacture certain 3D printed parts going forward; contracts already in hand are expected to translate into substantial revenue for Sigma Labs in 2017.
“Today we announce a groundbreaking agreement with another innovative company in the AM space, Morf3D,” said Mark Cola, President and CEO of Sigma Labs. “Due to the growth in demand for 3D printed metal components within the A&D industry, we’ve decided to join forces to better serve a number of OEMs with their next-generation applications. Working together, we can design, engineer, manufacture, and assure the quality of AM components across a number of exciting A&D opportunities, and existing contracts are anticipated to dramatically impact Sigma Labs’ growth trajectory beginning this year.”
Ivan Madera, CEO of Morf3D, added, “This partnership with Sigma Labs is a critical step towards accelerating our vision of operating as a strategic supplier-partner while meeting the high quality demands of our aerospace customers. Sigma Labs’ proprietary PrintRite3D® software will enable us to have a unique competitive advantage with In-Process Quality Assurance™ and deliver game-changing performance for end use aerospace components. We strongly believe that our combined expertise and capabilities can help the industry more rapidly advance and grow the entire addressable market in tandem.”
About Sigma Labs, Inc.
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 www.sigmalabsinc.com.
Morf3D is a privately held corporation headquartered in El Segundo, CA. The company specializes in additive engineering and manufacturing with metals, and provides advisory services in additive manufacturing strategy and technology adoption road-mapping.
Morf3D opened its Innovation Center in September 2015, and received AS9100 certification and ITAR approval in 2016. The company has received product development contracts from aircraft, space, medical and automotive customers, and expects to commence serial production contracts in 2017. It has further scaled its business with the addition of engineering staff, computerized scanning and inspection systems, and post-process machining and finishing equipment. For more information, please visit www.morf3d.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." These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in Sigma's 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. Sigma undertakes no obligation to update any of these forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: Chris Witty email@example.com 646-438-9385Source: Sigma Labs, Inc.
Released February 22, 2017