Sigma Labs Awarded Contract From Coherent for Its New PrintRite3D Lite In-Process Quality Assurance System
PrintRite3D Lite Developed for Small, Compact, Entry Level Machines Targeted at R&D, Dental and Small Lot Production
SANTA FE, NM / ACCESSWIRE / October 6, 2020 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software for the commercial 3D metal printing industry, has launched its newest product, the PrintRite3D Lite In-Process Quality Assurance system for which it was awarded its first contract from Coherent, Inc. (NASDAQ:COHR), one of the world's leading providers of lasers and laser-based technology for scientific, commercial, and industrial customers. The PrintRite3D® Lite IPQA® system was designed and developed specifically to fulfill the need for melt pool quality monitoring for the small, compact, entry level machines being used in academia, R&D, dental, and industrial small lot production.
The latest addition to the PrintRite3D suite of products, PrintRite3D Lite features Sigma's patented and proven TED (Thermal Energy Density) metric only for use in applications that do not require the full feature PrintRite3D solution. The less complex, smaller footprint, lower price point product provides users of entry level machines the ability to monitor and validate melt pool thermal conditions gaining valuable insights to part design and manufacturing.
According to Markus Wolf, R&D Manager at the Coherent site in Dieburg, Germany, "Like all companies that serve the additive manufacturing space, our objective is to help our customers improve throughput while reducing costly errors. Because of its ease-of-use and ability to validate thermal models in combination with thermal measurement, the new PrintRite3D Lite system from Sigma Labs gives us valuable insights to part design and manufacturing."
According to Mark Ruport, President and CEO of Sigma Labs, "We are very pleased to announce the launch of our new PrintRite3D Lite product as we begin implementation on the Coherent CREATOR metal 3D printer. PrintRite3D Lite is a great solution for 3D metal printing companies and end-user manufacturers that do not require the full functionality of PrintRite3D and increases our addressable market. PrintRite3D Lite will be available for OEM licensing as well as third party retrofit installations."
Added Todd Grimm, President of T. A. Grimm & Associates, "The output from PrintRite3D Lite provides insights and answers, in real time, to what was previously unknown. These insights and enhanced visibility allow companies to quantify, qualify and characterize the metal additive manufacturing ("AM") process. This strengthens metal AM, adding predictability and control, which are much needed in production processes. Sigma Labs is a pioneer in AM in-process quality monitoring, and the new addition to their product line will meet user needs and enable further industry advancements."
Founded in 1966, Coherent Inc. is one of the world's leading providers of lasers and laser-based technology for scientific, commercial, and industrial customers. Coherent's common stock is listed on the Nasdaq Global Select Market and is part of the Russell 1000 and Standard & Poor's MidCap 400 Index. For more information about Coherent, visit the company's website at www.coherent.com for product and financial updates.
About Sigma Labs
Sigma Labs Inc. (NASDAQ:SGLB) is a leading provider of quality assurance software to the commercial 3D metal printing industry under the PrintRite3D® brand. Sigma specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D® for 3D metal advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process and informs the production manager of quality issues. Sigma Labs believes its software product will be a major catalyst for the acceleration and adoption of 3D metal printing. 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, including, but not limited to, the uncertain effect of the COVID-19 pandemic on Sigma Labs' business, results of operations and financial condition, 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 March 24, 2020 and which may be viewed at www.sec.gov.
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SOURCE: Sigma Labs, Inc.
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Released October 6, 2020