Sigma Labs, Inc. Awarded Contract Extension from Honeywell Aerospace for Additive Manufacturing Support of DARPA Open Manufacturing Program
SANTA FE, N.M., Nov. 18, 2013 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB), a developer of advanced, real-time, non-destructive quality inspection systems for 3D metal printing and other advanced manufacturing technologies, today announced that it has extended its contract with Honeywell Aerospace a division of Honeywell International (NYSE: HON) to include enhancements to further demonstrate the capabilities of Sigma Labs' PrintRite3D® technology. The contract extension is part of a Defense Advanced Research Project Agency (DARPA) project to develop an Integrated Computational Material Engineering (ICME) framework to accurately predict the material properties of components produced using Additive Manufacturing or 3D printing for metal parts. PrintRite3D® is Sigma Labs' product offering in the area of internal inspection of computer generated parts, which is an important component in the overall Additive Manufacturing process. Sigma Labs expects this contract with Honeywell Aerospace to generate up to $178,645 in additional revenues before the end of the first quarter of 2014. Mark Cola, President and Chief Executive Officer of Sigma Labs, stated, "This contract extension further validates the importance of Sigma Labs' PrintRite3D® technology in supporting our customer's migration into 3D metal printing."
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, real-time, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for 3D metal printing and other advanced manufacturing technologies. Sigma Labs' other wholly-owned subsidiary, Sumner & Lawrence Limited, provides high-level scientific consultants to Federal government clients seeking productive solutions for emerging and strategic development technologies. For more information please visit us at www.sigmalabsinc.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." Our forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in our 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. 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 November 18, 2013