Sigma Labs Announces Launch of PrintRite3D(R) DEFORM(TM)
SANTA FE, N.M., Sept. 30, 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 the launch of its long-awaited DEFORM™ software – part of the Company's PrintRite3D® family of quality assurance and process control products. Sigma Labs has completed all in-house development and testing such that DEFORM™ is now available for beta installations, including for customers within the Company's Early Adopter Program (EAP). As previously announced, the first fielded application of DEFORM™ will be with Honeywell Aerospace at its AM development facility in Phoenix; this contract is part of a larger award announced in May, 2015.
"We are very pleased to announce the launch of our DEFORM™ software, which complements our existing INSPECT™ module and further enhances our support of AM applications worldwide," said Mark Cola, President and CEO of Sigma Labs. "While the product was delayed due to the need for additional development and testing, we are excited to offer a unique tool that uses proprietary, in-process algorithms to generate geometrical property data for each layer of an AM build cycle. Our technology offers real-time, layer-by-layer analysis to ensure compliance to production specifications.
"The launch of DEFORM™ – and its first installation, with Honeywell – represents the achievement of a major milestone for the metal AM industry. Sigma Labs is pleased to help pioneer the advancement of In-Process Quality Assurance™ (IPQA®) in this rapidly-evolving space."
PrintRite3D® INSPECT™ and DEFORM™ software modules can now be used in combination for embedded, stand-alone, or third party platform-independent installations. DEFORM™ is expected to be delivered to Honeywell in October and will be shipped to Sigma Labs' global EAP participants as appropriate. DEFORM™ will also be showcased at upcoming industry-leading events.
Sigma Labs' Early Adopter Program remains open to new entrants through year-end. The program offers many benefits to users looking to obtain objective evidence of compliance to design intent, conduct rapid qualification, and create value through process control and optimization. The EAP continues to draw strong interest from potential customers and is expected to boost revenue in 2016.
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.
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.
CONTACT: Investor Relations Contact: Chris Witty cwitty@darrowir.com 646-438-9385
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