SANTA FE, N.M., Sept. 11, 2015 (GLOBE NEWSWIRE) -- 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 entered into an evaluation period for the Company's proprietary PrintRite3D® products with Additive Industries of The Netherlands. As part of the agreement, Additive Industries has purchased a non-exclusive license to use one of Sigma Labs' PrintRite3D® systems – including licensing of its INSPECT™, DEFORM™ and ANALYTICS™ software – to be integrated into a MetalFAB1 prototype machine for evaluation purposes. As previously announced, the two companies signed a Technology Cooperation Agreement in December, 2014 to evaluate Sigma Labs' technology for Additive Industries' system development.
Additive Industries is developing next-generation metal AM machines that address the demanding applications of high-end industrial markets. The company has developed and tested a prototype machine to the point where it can now begin to evaluate Sigma Labs' PrintRite3D® technology prior to the product launch of Additive Industries' MetalFAB1 machine in the fourth quarter of this year.
"Sigma Labs is delighted by this next stage of development with Additive Industries," said Mark Cola, President and CEO of Sigma Labs. "The fact that our PrintRite3D® technology is being recognized not just by users of metal AM machines but also by the OEMs that make them is a significant achievement. Machine manufacturers are beginning to understand the value of offering their customers an enabling technology to assure the quality and reliability of metal AM products. We are pleased to join with Additive Industries in their product launch later this year."
"I am excited that we are now able to capitalize on our partnership, which points to the rapidly-evolving industrial AM space as well as increased end-user demand," said Daan Kersten, Co-founder & CEO of Additive Industries b.v. "This evaluation period is the next logical step in the co-development project between Sigma Labs and Additive Industries, as well as a natural bridge in our joint efforts to improve the reliability and consistency of metal AM machines."
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 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.
About Additive Industries B.V.
Additive Industries is dedicated to bringing metal additive manufacturing for functional parts from lab to fab by offering a modular 3D printing system and seamlessly integrated information platform to high-end and demanding industrial markets. With substantially improved reproducibility, productivity, and flexibility, Additive Industries redefines the business case for additive manufacturing applications in aerospace, automotive, medical technology and high-tech equipment. Additional information can be found at www.additiveindustries.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." 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.
CONTACT: Investor Relations Contact: Chris Witty firstname.lastname@example.org 646-438-9385Source:Sigma Labs, Inc.