Sigma Labs, Inc. Awarded Contract From Leading Supplier Of Power Generation Systems To Develop And Demonstrate Advanced Manufacturing Repair Technology For Gas Turbines
SANTA FE, N.M., Sept. 25, 2012 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) announced today that it was awarded a contract from one of the world's leading suppliers of power generation systems to develop and demonstrate advanced manufacturing repair technology for land-based gas turbines. Such technology should enable Sigma Labs' client to assist its customers in managing life cycle costs and maximizing powerplant uptime. Sigma Labs expects this contract to generate up to $260,000 in revenues. Mark Cola, President of Sigma Labs, states that "becoming a qualified vendor for this important repair technology is an exciting step toward our commercialization of an enabling technology that should allow our client to implement a repair program that minimizes maintenance costs and maximizes equipment availability. Once developed and commercialized, our client could apply a repair technology throughout its global network of service centers and provide repair services for safety-critical components in its customer's turbine. Our client is a leading supplier of advanced power systems and uninterrupted energy services and we are proud to be a part of its technology team. Its installed base of steam and gas turbines has grown to many thousands of units in more than 100 countries."
About Sigma Labs, Inc.
Sigma Labs, Inc. comprises three wholly-owned subsidiaries, including B6 Sigma, Inc., Sumner & Lawrence Limited (dba Sumner Associates) and La Mancha Company. B6 Sigma develops advanced manufacturing solutions (e.g., PrintRite3D™ for Additive Manufacturing) and materials technologies (e.g., Advanced Reactive Materials & Structures - ARMS®) as well as R&D solutions for first-tier integrators like GE, Boeing, Honeywell, Pratt & Whitney, and other commercial firms around the globe. Sumner Associates and La Mancha provide high-level consultants to Federal government and commercial clients seeking productive solutions for emerging and strategic development technologies. Sigma Labs has current contracts with Federal government and private industry clients to provide high-level consultants, and develop technologies from their conception through the design, building, and testing of prototype systems by integrating sensing, software, materials and manufacturing technology risk-reduction solutions. 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 most recent annual report on Form 10-K. 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 September 25, 2012