Sigma Labs Forms Strategic Alliance with Morf3D
February 22 2017 - 8:00AM
Sigma Labs, Inc. (NASDAQ:SGLB) (“Sigma Labs” or the “Company”), a
provider of quality assurance software under the PrintRite3D®
brand, today announced that it has signed a commercial alliance
with Morf3D to bring enhanced solutions for additive manufacturing
(“AM”) to the aerospace and defense (“A&D”) sector. Morf3D,
based in El Segundo, California, is an AM product developer
specializing in high-level consulting and manufacturing services
including conceptualization, optimization, metallurgical
examination, certification and data analysis. Leveraging Sigma
Labs’ PrintRite3D® quality assurance software, Morf3D will be able
to provide a means for customers to increase AM production rates
while ensuring consistent part quality. The two companies will also
work together to manufacture certain 3D printed parts going
forward; contracts already in hand are expected to translate into
substantial revenue for Sigma Labs in 2017.
“Today we announce a groundbreaking agreement
with another innovative company in the AM space, Morf3D,” said Mark
Cola, President and CEO of Sigma Labs. “Due to the growth in demand
for 3D printed metal components within the A&D industry, we’ve
decided to join forces to better serve a number of OEMs with their
next-generation applications. Working together, we can design,
engineer, manufacture, and assure the quality of AM components
across a number of exciting A&D opportunities, and existing
contracts are anticipated to dramatically impact Sigma Labs’ growth
trajectory beginning this year.”
Ivan Madera, CEO of Morf3D, added, “This
partnership with Sigma Labs is a critical step towards accelerating
our vision of operating as a strategic supplier-partner while
meeting the high quality demands of our aerospace customers. Sigma
Labs’ proprietary PrintRite3D® software will enable us to have a
unique competitive advantage with In-Process Quality Assurance™ and
deliver game-changing performance for end use aerospace components.
We strongly believe that our combined expertise and capabilities
can help the industry more rapidly advance and grow the entire
addressable market in tandem.”
About Sigma Labs, Inc. Sigma
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 www.sigmalabsinc.com.
About Morf3DMorf3D is a
privately held corporation headquartered in El Segundo, CA.
The company specializes in additive engineering and manufacturing
with metals, and provides advisory services in additive
manufacturing strategy and technology adoption
road-mapping.
Morf3D opened its Innovation Center in September
2015, and received AS9100 certification and ITAR approval in 2016.
The company has received product development contracts from
aircraft, space, medical and automotive customers, and expects to
commence serial production contracts in 2017. It has further
scaled its business with the addition of engineering staff,
computerized scanning and inspection systems, and post-process
machining and finishing equipment. For more
information, please visit www.morf3d.com.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements often contain words such as
"expects," "anticipates," "intends," "believes" or "will." These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions that could adversely affect us,
including the risks set forth in Sigma's most recent annual report
on Form 10-K. The forward-looking statements in this press release
are made only as of the date of this press release. Sigma
undertakes no obligation to update any of these forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:
Chris Witty
cwitty@darrowir.com
646-438-9385
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