Patents Strengthen Sigma's Position as First Mover in Growing Additive Manufacturing Market
SANTA FE, NM / ACCESSWIRE / March 23, 2020 / Sigma Labs, Inc. (NASDAQ:SGLB), a leading developer of quality assurance software for the commercial 3D printing industry, has been awarded two U.S. patents for its industry-leading technology, PrintRite3D® :
- U.S. Application No.: 16/234,333 Titled: Systems and Methods for Additive Manufacturing Operations; and
- U.S. Application No.: 16/282,004 Titled: Systems and Methods for Measuring Radiated Thermal Energy During an Additive Manufacturing Operation.
The expansion of Sigma Labs' already-robust intellectual property portfolio - now composed of 11 issued and 24 pending patents, is a significant asset for such a young company in both protecting and enhancing the value of a technology function that appears to many to be essential to the growth of the additive manufacturing (AM) metal industry.
The patents were granted on March 10, 2020 and March 9, 2020 respectively. Combined with other patents already owned by the company, PrintRite3D® is able to detect defects and anomalies during the manufacturing process, saving time, money and waste and accelerating the transition of AM to serial production.
Darren Beckett, Chief Technology Officer of Sigma Labs, commented "I am extremely proud of our world-class engineering team and the diverse set of core-competencies that have come together at Sigma to solve these critical problems. The speed of innovation and selfless teamwork, is unlike any I have seen in my professional career."
Mark K. Ruport, Executive Chairman, commented, "3D manufacturing will become more and more critical to the major economies of the world in order to shorten and simplify complex supply chains by manufacturing metal parts closer to home. The recent crisis highlights the fact that economies that are too interdependent are subject to significant slowdowns in times of crisis. The fact that our technology could play a role in accelerating the industrialization of 3D metal printing, validates the investments that we have made in developing and commercializing our PrintRite3D® product."
The announcement comes shortly after the company shifted into full commercialization of PrintRite3D software after a successful year or tests and evaluations by major companies and organizations around the world, and is seeking to significantly expand its footprint in the market through strategic partnerships with Additive Manufacturing (AM) hardware and software vendors, OEMs, Research and Development organizations, Universities, and major manufacturers in the aerospace, medical, automotive and oil and gas industries.
The patents are the latest in a string of high-profile news about Sigma Labs' advancements and achievements, including contracts with prestigious university Additive Manufacturing (AM) programs and a joint sales agreement with a leading 3D printing software vendor.
About Sigma Labs
Sigma Labs, Inc. (NASDAQ:SGLB) is an emerging 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.