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SANTA FE, N.M., March 07, 2016 -- Sigma Labs, Inc. (OTCQB:SGLB) (“Sigma Labs” or the “Company”), a developer of advanced, in process, non-destructive quality inspection systems for metal-based additive manufacturing (“AM”) and other advanced manufacturing technologies, today announced that it has received a contract from Aerojet Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD), for a non-exclusive license of the Company's PrintRite3D® software applications. Terms of the award were not disclosed. Sigma Labs’ technology will be utilized on Aerojet Rocketdyne’s contract with the U.S. Air Force to define standards for qualifying AM components, to be used in liquid-fueled rocket engine applications. The Air Force initiative is part of a plan to transition away from the Russian-made RD-180 engines currently used on the Atlas V launch vehicle.
Separately, Sigma Labs received an order from Aerojet Rocketdyne under the previously-announced “America Makes” additive manufacturing research project with GE Aviation. The program, funded by the National Additive Manufacturing Innovation Institute (NAMII), uses Sigma Labs’ proprietary In-Process Quality Assurance (IPQA®) software for advanced AM monitoring. This is the second PrintRite3D® system being deployed under America Makes, the first being with GE Aviation.
“Working alongside Aerojet Rocketdyne on this Air Force program, as well as with America Makes, allows Sigma Labs to once again showcase the benefits of our unique technology,” said Mark Cola, President and CEO of Sigma Labs. “This is a great opportunity for Sigma Labs to gain additional exposure within the aerospace and defense industry, particularly as part of an initiative designed to define standards and qualification requirements for 3D-printed rocket components. We look forward to the rollout of these programs in 2016 and appreciate the trust that both Aerojet Rocketdyne and the U.S. Air Force have placed in Sigma Labs.”
About Sigma Labs, Inc.
Sigma Labs, Inc. develops and engineers advanced, in-process, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for metal-based additive manufacturing or 3D printing, and other advanced manufacturing technologies. For more information please visit 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'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 [email protected] 646-438-9385
