Sigma Labs, Inc. Awarded Contract for Lighter, More Energetic Next-Generation Munitions Development
SANTA FE, N.M., May 2, 2011 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) announced today that it was previously awarded a contract from the US Army's Armament Research, Development and Engineering Center (ARDEC) an agency with over $1,000,000,000 in annual revenue. To enhance this contract, Sigma Labs, Inc. has teamed with one of the largest ordnance manufacturers in the United States and expects this contract to generate up to $135,000 in revenues.
Mark Cola, President of Sigma Labs, Inc., states, "The close working relationship we have with our teaming partner will enable more rapid deployment of this technology to the defense market and greater participation in current and future weapons programs of record."
Richard Mah, CEO of Sigma Labs Inc., stated, "We believe that our patent-pending technology will allow 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."
About Sigma Labs, Inc.
Sigma Labs, Inc. comprises leading scientists and engineers from Los Alamos National Laboratory with over 75 years of combined industrial R&D experience and has become a developer of manufacturing and materials technologies and an important R&D provider to first-tier integrators, including Boeing, Honeywell, and Pratt & Whitney, as well as to commercial firms within the United States and internationally. Sigma Labs, Inc. currently has contracts with both the federal Government and private industry to develop technologies from their conception through the design, building, and testing of prototype systems. Sigma Labs, Inc. is aggressively designing and developing innovative sensing, software products, materials technologies and other unique manufacturing quality assurance solutions for the federal Government and our commercial clients. Visit Sigma Labs at www.sigmalabsinc.com.
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.
Released May 2, 2011