SANTA FE, N.M., Dec. 03, 2018 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (NASDAQ: SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, and the Fraunhofer Research Institution for Additive Manufacturing Technologies (IAPT), based in Hamburg, Germany, announced a collaborative research and development agreement, focusing on the industrialization of additive manufacturing. John Rice, CEO of Sigma Labs, and Prof. Dr.-Ing. Claus Emmelmann, Managing Director of Fraunhofer IAPT, signed the agreement during the recent Formnext 2018 trade show in Frankfurt, Germany.
“The aim of this collaboration is to test and validate the use of the PrintRite3D system to identify and quantify machine and process inconsistencies as well as flag defect thermal signatures during the laser melting process, and correlate them to CT scan results,” Mr. Rice said. “Ultimately, this will allow users to reduce scrap, increase productivity and reduce post-process inspection costs.”
“There is a clear demand for independent process monitoring systems for Additive Manufacturing within the industry. Therefore we are looking forward to cooperating with Sigma Labs on the further development of their technology,” Prof. Dr.-Ing. Emmelmann said.
As part of the agreement, the existing PrintRite3D system at Fraunhofer IAPT in Hamburg, Germany, will be upgraded.
About Sigma Labs
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.
About Fraunhofer IAPT:
The Fraunhofer Research Institution for Additive Manufacturing Technologies (IAPT) is the 70th institute of the Fraunhofer-Gesellschaft which is one of the largest application-oriented research organizations with more than 25.0000 employees in Europe. The Fraunhofer IAPT was founded by the LZN Laser Zentrum Nord GmbH and parts of the Institute of Laser and System Technologies at the Hamburg University of Technology as one of the world’s leading institution for scientific-industrial technology transfer in the area of 3D printing. Furthermore, the Fraunhofer IAPT focuses on research and development of additive manufacturing technologies with main emphasis on design, process and factory with about 100 employees at the production sites in Hamburg and Lüneburg. For more information please visit www.iapt.fraunhofer.de/.
Forward-Looking Statements
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 17, 2018 and which may be viewed at http://www.sec.gov.
Media Relations Contact:
Cheryl Schneider
DGI Comm
212-825-3210
cschneider@dgicomm.com
Investor Relations Contact:
Bret Shapiro
Managing Director
CORE IR
561-479-8566
brets@coreir.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ceade2c9-9695-4282-87fe-fb429a4104b3