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SANTA FE, N.M., Dec. 21, 2016 -- Sigma Labs, Inc. (OTCQB: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 Honeywell Aerospace as part of a previously- announced award with the Defense Advanced Research Project Agency (DARPA) for Open Manufacturing (OM) Phase III; Phase I and II were completed in 2014 and earlier in 2016, respectively. The DARPA OM program’s goal is to develop an Integrated Computational Material Engineering (ICME) framework to accurately predict the properties of metal components produced using additive manufacturing (AM). Phase III work is expected to begin before the end of 2016 and run through mid-2018 – with a total award value to Sigma Labs of approximately $0.4 million.
"We are very pleased to have once again been selected for a follow-on contract with Honeywell as part of their DARPA OM award,” said Mark Cola, President and Chief Executive Officer of Sigma Labs. “Having successfully completed the Phase II piece of the program earlier this year, we look forward to working with Honeywell and its team to further demonstrate how our PrintRite3D® technology enables rapid manufacturing processes such as laser-based 3D printing for precision metal components. Through this award, we’ll have the opportunity to demonstrate how our PrintRite3D® software can be a key enabler for developing quality assurance standards for metal AM aerospace components.”
DARPA created the Open Manufacturing program to lower the cost and speed the delivery of high-quality manufactured goods with predictable performance. Additional information can be found at: http://www.darpa.mil/program/open-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 Statements
This 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 [email protected] 646-438-9385
