Sigma Labs Awarded Contract by VTT Technical Research Centre of Finland
Leading International Research and Technology Organization for Private and Public Sectors Now Incorporating PrintRite3D Real-Time Melt Pool Analytics Software for Additive Manufacturing
SANTA FE, NM and ESPOO, FINLAND / ACCESSWIRE / October 23, 2019 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software for the commercial 3D printing industry, has been awarded a contract by VTT Technical Research Centre of Finland Ltd to install its proprietary PrintRite3D Real-Time Melt Pool Analytics software platform at the VTT 3D metal printing facility.
VTT is a visionary research, development and innovation partner for its customers. VTT 3DMetalprint service brings top level expertise and unique infrastructure to support 3D printing development activities. It enables a new, economical way to produce optimized and cost-effective products with digital process. The service takes into account the application-specific aspects as well as the overall process efficiency.
VTT has for years been the most active Finnish participant in EU-funded research projects. VTT plays a key role in national and international innovation partnerships with 96% of VTT's customer survey respondents reporting their cooperation with VTT in a project promoted their networking. Over 45% of VTT's revenues come from public and private sector outside Finland. Sigma Labs plans to install its PrintRite3D technology at VTT's Espoo, Finland facility by year-end.
"Sigma Labs is striving to become the standard for in-process quality assurance within the additive manufacturing industry," said John Rice, Chairman and Chief Executive Officer. "VTT's selection of our PrintRite3D software is not only a validation of our technology, but also a conduit to some of the largest global corporations who trust their recommendations for new technologies. In demonstrations to VTT, PrintRite3D demonstrated technical capabilities far exceeding the competing offerings. I look forward to monetizing our incredible software product in this exciting, emerging industry - creating long-term value for our shareholders."
VTT Research Scientist Joni Reijonen stated: "Additive manufacturing (AM) offers many opportunities to improve product performance and produce totally new products. Sigma Labs industry leading PrintRite3D software will greatly enhance our research and development services related for applications, production and AM material development."
PrintRite3D is Sigma Labs' patented in-process quality assurance software for the commercial 3D metal printing industry, providing real-time melt pool analytics. The software uniquely leverages thermal signatures to monitor the quality of each product part in the production process, layer by layer and in real-time, allowing operators to correct or stop production of a defective part - resulting in reduced errors rates and higher yields. The software is currently being evaluated by tier-1 aerospace and OEM partners worldwide.
About the VTT Technical Research Centre of Finland
Founded in 1942, VTT Technical Research Centre of Finland (VTT), is an impartial, state-owned non-profit Research and Technology Organization with the mission to support economic competitiveness, societal development and innovation in Finland. VTT is organized around three main areas: Knowledge intensive products and services, Smart industry and energy systems, and Solutions for natural resources and environment. All VTT activities are characterized by genuine trans-disciplinary and cross-sectoral approaches and the daily project work is planned and implemented within multi-year, coordinated programs. For more information, please visit here.
About Sigma Labs
Sigma Labs, Inc. (NASDAQ: SGLB) is an emerging provider of quality assurance software to the commercial 3D printing industry under the PrintRite3D® brand. Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (CAI) solutions known as PrintRite3D® for 3D advanced manufacturing technologies. Sigma Labs' advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling non-destructive quality assurance mid-production, uniquely allowing errors to be corrected in real-time. For more information, please visit 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 1, 2019 and which may be viewed at http://www.sec.gov.
SOURCE: Sigma Labs, Inc.
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Released October 23, 2019