SANTA FE, NM / ACCESSWIRE / February 26, 2020 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software for the commercial 3D printing industry, has been awarded a contract by the Mississippi State University Center for Advanced Vehicular Systems (CAVS), a world-class interdisciplinary research center that uses state-of-the-art technology to address engineering challenges facing U.S. mobility industries.
The Mississippi State University Center for Advanced Vehicular Systems will install PrinteRite3D on a Renishaw AM400 machine, a new OEM platform for Sigma Labs, further proving out PrintRite3D's platform interoperability potential to an increasingly large machine base. Per the terms of the agreement, in addition to any research or commercial applications of PrintRite3D®, CAVS has agreed to serve as a real-world test bed for new product improvements that Sigma will roll out over time.
"The Research & Development and University sectors of the additive manufacturing (AM) market is important to Sigma as we expand our footprint in the retail market segment with another contract win with the Mississippi State University Center for Advanced Vehicular Systems, a leading research institution and thought leader," said Mark K. Ruport, Executive Chairman of Sigma Labs. "They have agreed to act as a test bed for new product improvements to PrintRite3D®, uniquely allowing us a real-world feedback loop to continuously improve our technology suite. I look forward to working with the entire team at CAVS to bring a new level of quality assurance to both their partners and the additive manufacturing industry as a whole," concluded Ruport.
PrintRite3D® is Sigma Labs' patented in-process quality assurance software for the commercial 3D metal printing industry, providing real-time melt pool analytics. The software uniquely leverages thermal signatures to monitor the quality of each product part in the production process, layer by layer and in real-time, allowing operators to correct or stop production of a defective part - resulting in reduced error rates and higher yields. The software is currently being evaluated by tier-1 aerospace and OEM partners worldwide.
About Mississippi State University Center for Advanced Vehicular Systems
The Center for Advanced Vehicular Systems (CAVS) is one of the premier university automotive research centers in the world, composed of over 300 staff and researchers in addressing some of today's most pressing challenges. CAVS is a strong partner at the state, national, and international level; with academic partnerships in place across multiple continents, CAVS forms collaborations which help us work smarter, faster, and more efficiently. Together with government and industry partners, CAVS is developing solutions to enhance transportation safety, improve vehicle efficiency, increase workforce productivity and enable a brighter future.
About Sigma Labs
Sigma Labs, Inc. (NASDAQ:SGLB) is a leading provider of quality assurance software to the commercial 3D printing industry under the PrintRite3D® brand. Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (CAI) solutions known as PrintRite3D® for 3D advanced manufacturing technologies. Sigma Labs' advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling non-destructive quality assurance mid-production, uniquely allowing errors to be corrected in real-time. 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 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 1, 2019 and which may be viewed at www.sec.gov.
SOURCE: Sigma Labs, Inc.