Sigma Labs Enters New OEM Negotiations
SANTA FE, N.M., Dec. 04, 2018 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (NASDAQ: SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, has advanced conversations to negotiations with several potential Original Equipment Manufacturer (OEM) partners at the successful Formnext show earlier this month in Germany, and is effectively implementing the Company’s previously announced strategies, including active and high-priority negotiations with multiple OEMs of Additive Metal Manufacturing Equipment. “Our goal is to become the ‘Intel Inside’ of the additive manufacturing equipment industry. Our demonstration of the commercial ready version and real time quality control is what advanced our negotiations,” said John Rice, Chairman and CEO of Sigma Labs. In a separate sales channel, Sigma Labs has agreed to furnish 20 diverse companies and institutions with proposals to test and evaluate PrintRite3D® using Sigma’s recently announced rapid proof-of-concept process.
John Rice, Chairman and CEO of Sigma Labs, said, “We came away from a dynamic Formnext conference for Sigma with numerous high-priority negotiations underway to evaluate Sigma’s product suite in crucial Additive Manufacturing (AM) efforts. We received strong interest from the industry and our software gained critical acclaim as we demonstrated our significant value proposition to OEMs and manufacturers alike. Our value proposition to customers includes potential increases in production yields of 3D metal manufactured parts, related significant cost savings, and reduced time to market. These benefits address issues that are still major hurdles affecting emerging manufacturers and slow or deter many manufacturers that are considering entering serial production. Sigma’s strategy of engaging customers in rapidly deployed proof-of-concepts, followed by strong commercialization support, was well-received by prospective customers. Likewise, we extended our base of OEM interest and look forward to cultivating these new relationships to advance the AM market into serial production with real time, closed-loop IPQA®.”
Sigma Labs’ IPQA® technology can shorten time to market and increase production yield. It uses sensor data and establishes in-process quality metrics to optimize melt pool thermal conditions during the process, enabling user control of parameter settings to keep parts at this optimal setting. IPQA® uses position mapping to locate off-nominal part conditions, enabling the user to offset discrepancies and increase quality. In addition to characterizing and quantifying process and consistency across build plates and between machines, IPQA® also provides part quality reporting using statistical analysis of process data to validate repeatability. It enables forensic interrogation of suspect part data for process improvement, optimization and control, and provides end-of-build part-by-part quality reports while comparing build to build, enabling warnings to users about machine reliability.
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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Released December 4, 2018