Sigma Labs Enters into Second Long Term Commercial Agreement With OEM Additive Industries for PrintRite3D®
SANTA FE, N.M. – March 29, 2017 – Sigma Labs, Inc. (NASDAQ: SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, today announced that it has entered into a long term non-exclusive commercial agreement with Additive Industries B. V. of The Netherlands. As part of the multi-year agreement, anticipated to be worth several million dollars over the next few years, Additive Industries will join Sigma Labs’ previously-announced OEM Partner Program – embedding and reselling Sigma’s PrintRite3D® software within its AM equipment. Additional terms were not disclosed.
Sigma Labs had previously entered into an evaluation period with Additive Industries in late 2015. Additive Industries is developing next-generation metal AM machines that address the demanding applications of high-end industrial markets, and the company launched its MetalFAB1 in the fourth quarter of 2015.
“We are very pleased that Additive Industries has taken the next step in strengthening our long-term relationship by officially joining our OEM Partner Program,” said Mark Cola, President and CEO of Sigma Labs. “Having worked with their esteemed staff for several years, we’ve come to realize the shared value of providing AM machines with the full capabilities of Sigma Labs’ In-Process Quality Assurance™ (IPQA®) applications. By embedding equipment with our PrintRite3D® software before being sold, we can better address the needs of metal component manufacturers across a range of industries and advance the reliability and quality of AM production in real time. We look forward to working with Additive Industries for many years to come.”
About Sigma Labs, Inc.
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 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 Labs' 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 Labs undertakes no obligation to update any of these forward-looking statements, whether as a result of new information, future events or otherwise.
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