SANTA FE, N.M., May 4, 2015 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (OTCQB:SGLB) ("Sigma Labs" or the "Company"), a leading developer of proprietary In-Process Quality Assurance™ (IPQA®) software for additive manufacturing ("AM"), today announced that Honeywell has entered into a contract with the Company to acquire Sigma Labs' PrintRite3D® system. As part of the award, Sigma Labs will deliver and install its PrintRite3D® INSPECT™ software – including one license and a year of maintenance – for Honeywell to test within its AM development facility in Phoenix; the purchase order also includes Sigma Labs' first contract for its groundbreaking DEFORM™ software, which will be provided when ready for release. Payment terms were not disclosed. This contract is separate from the expected deliverable related to the America Makes research project.
"We are very excited to announce this award, which marks our first commercial sale to Honeywell of our proprietary PrintRite3D® INSPECT™ and upcoming DEFORM™ quality assurance software," said Mark Cola, President and Chief Executive Officer of Sigma Labs. "As stated on our fourth quarter earnings call, we have been actively marketing our software solutions as well as our new metal 3D printing capabilities and are pleased at the current level of business development discussions underway. We continue to believe that 2015 will be a year that showcases Sigma Labs' technology and greatly expands our top line growth."
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, in-process, non-destructive quality inspection systems for metal-based additive manufacturing and also serves as an AM contract manufacturer. For more information please visit www.sigmalabsinc.com.
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." Our forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in our 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. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Investor Relations Contact: Chris Witty email@example.com 646-438-9385Source:Sigma Labs, Inc.