Sigma Labs Wins Additional Contract with Aerojet Rocketdyne for U.S. Air Force Applications
March 02 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 received a contract from Aerojet
Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings, Inc.
(NYSE:AJRD), as a follow-on to last year’s award tied to a U.S. Air
Force propulsion initiative. As previously announced in March,
2016, Sigma Labs’ technology is being evaluated by Aerojet
Rocketdyne for its contract with the Air Force for liquid-fueled
rocket engine applications – part of a plan to transition away from
the Russian-made RD-180 engines currently used on the Atlas V
launch vehicle.
This follow-on contract includes an upgrade of
Sigma Labs’ PrintRite3D® software with new and improved sensors and
enhanced algorithms. Sigma Labs will provide engineering support
via complex geometry-specific data analysis and, among other tasks,
work with Aerojet Rocketdyne to assess and quantify any in-process
data variation. Additional terms of the award were not
disclosed.
“Our longstanding relationship with Aerojet
Rocketdyne continues to result in additional work to move additive
manufacturing forward, particularly with regard to aerospace and
defense applications,” said Mark Cola, President and Chief
Executive Officer of Sigma Labs. “We’re pleased that our
PrintRite3D® software is being recognized as a game changer within
the industry, and awards such as this show the increased confidence
that customers have in our technology as they mature toward product
qualification and process certification. Working together, we can
bring advanced solutions to the U.S. Air Force for state-of-the-art
component manufacturing.”
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 us at
www.sigmalabsinc.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 Labs' 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
Labs 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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