Sigma Labs Signs Agreement With Lockheed Martin for Its PrintRite3D(R) In-Process Quality Assurance Solution
Lockheed Martin is Speeding Production Using Melt Pool Monitoring Technology
SANTA FE, NM / ACCESSWIRE / March 15, 2021 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software for the commercial 3D metal printing industry, has been awarded a contract for an initial system of its PrintRite3D in-process quality assurance solution by Lockheed Martin Space Additive Design & Manufacturing Center based in Sunnyvale, California. The Additive Design & Manufacturing Center supports the entire Space portfolio and integrates key materials research and manufacturing processes to streamline the affordable delivery of satellite components.
As a part of this initial contract, the Lockheed Martin team will assess the viability and performance of PrintRite3D technology for the Space division in support of a variety of defense and civil space programs. PrintRite3D® is an interactive in-process quality assurance system that combines inspection, feedback, data collection and critical analysis. The system discovers potential anomalies and incorporates machine learning in conjunction with developed metrics to map those metrics to the post-process data. Through its careful attention to the unique requirements of the additive manufacturing industry, PrintRite3D provides a high-fidelity, accurate system that can confidently scale to multi-laser in dual and quad laser systems.
"After review of our needs and potential solutions, we selected the Sigma PrintRite3D system because of its robust analysis capabilities, quality assurance solutions, data capture technology, and scalability across various OEM 3D printing platforms," said Kristi Farley, vice president spacecraft and missile engineering at Lockheed Martin Space. "Assurance of print quality and repeatability is essential to the critical missions that we support."
Mark Ruport, President and CEO of Sigma Labs, stated, "We are extremely pleased to welcome Lockheed Martin's Space Additive Design & Manufacturing Center as a Sigma Labs customer. It's gratifying that they recognize the commitment our company has made to supporting the entire additive manufacturing industry with innovative in-process quality solutions."
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Please follow @LMNews on Twitter for the latest announcements and news across the corporation.
About Sigma Labs
Sigma Labs Inc. is a leading provider of in-process quality assurance (IPQA®) software to the additive manufacturing industry. Sigma Labs 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, enabling significant cost-savings and production efficiencies. 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. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, market and other conditions, Sigma Labs' business and financial condition, Sigma Labs' ability to satisfy its capital needs through increasing its revenue and obtaining additional financing, and the impact of COVID-19, general economic, industry or political conditions in the United States or internationally. 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 disclosures contained in Sigma Labs' public filings with the SEC, including the "Risk Factors" in Sigma Labs' Annual Report on Form 10-K, and which may be viewed at www.sec.gov.
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SOURCE: Sigma Labs, Inc.
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Released March 15, 2021