Sigma Labs Enters New OEM Negotiations
December 04 2018 - 8:00AM
Sigma Labs, Inc. (NASDAQ: SGLB) (“Sigma Labs” or the “Company”), a
provider of quality assurance software under the PrintRite3D®
brand, has advanced conversations to negotiations with several
potential Original Equipment Manufacturer (OEM) partners at the
successful Formnext show earlier this month in Germany, and
is effectively implementing the Company’s previously announced
strategies, including active and high-priority negotiations with
multiple OEMs of Additive Metal Manufacturing Equipment. “Our goal
is to become the ‘Intel Inside’ of the additive manufacturing
equipment industry. Our demonstration of the commercial ready
version and real time quality control is what advanced our
negotiations,” said John Rice, Chairman and CEO of Sigma Labs. In a
separate sales channel, Sigma Labs has agreed to furnish 20 diverse
companies and institutions with proposals to test and evaluate
PrintRite3D® using Sigma’s recently announced rapid
proof-of-concept process.
John Rice, Chairman and CEO of Sigma Labs, said, “We came away
from a dynamic Formnext conference for Sigma with numerous
high-priority negotiations underway to evaluate Sigma’s product
suite in crucial Additive Manufacturing (AM) efforts. We received
strong interest from the industry and our software gained critical
acclaim as we demonstrated our significant value proposition to
OEMs and manufacturers alike. Our value proposition to customers
includes potential increases in production yields of 3D metal
manufactured parts, related significant cost savings, and reduced
time to market. These benefits address issues that are still major
hurdles affecting emerging manufacturers and slow or deter many
manufacturers that are considering entering serial production.
Sigma’s strategy of engaging customers in rapidly deployed
proof-of-concepts, followed by strong commercialization support,
was well-received by prospective customers. Likewise, we extended
our base of OEM interest and look forward to cultivating these new
relationships to advance the AM market into serial production with
real time, closed-loop IPQA®.”
About IPQA®Sigma Labs’ IPQA® technology can
shorten time to market and increase production yield. It uses
sensor data and establishes in-process quality metrics to optimize
melt pool thermal conditions during the process, enabling user
control of parameter settings to keep parts at this optimal
setting. IPQA® uses position mapping to locate off-nominal part
conditions, enabling the user to offset discrepancies and increase
quality. In addition to characterizing and quantifying process and
consistency across build plates and between machines, IPQA® also
provides part quality reporting using statistical analysis of
process data to validate repeatability. It enables forensic
interrogation of suspect part data for process improvement,
optimization and control, and provides end-of-build part-by-part
quality reports while comparing build to build, enabling warnings
to users about machine reliability.
About Sigma LabsSigma Labs, Inc. is a provider
of quality assurance software under the PrintRite3D® brand and a
developer of advanced, in-process, non-destructive quality
assurance software for commercial firms worldwide seeking
productive solutions for advanced manufacturing. For more
information please visit us at www.sigmalabsinc.com.
Forward-Looking StatementsThis 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 17, 2018 and which may be viewed at http://www.sec.gov.
Media Relations Contact:Cheryl SchneiderDGI
Comm212-825-3210cschneider@dgicomm.com
Investor Relations Contact:Bret ShapiroManaging
DirectorCORE IR561-479-8566brets@coreir.com
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