Sigma Labs Wins Contract with Solar Turbines Incorporated
SANTA FE, N.M. – April 18, 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 received a contract from Solar Turbines Incorporated, a subsidiary of Caterpillar Inc. (NYSE: CAT) located in San Diego, California. Solar Turbines will implement Sigma Labs’ In-Process Quality Assurance™ (IPQA®) technology for the production of gas turbine components using metal additive manufacturing (“AM”). The division makes mid-size industrial turbines for use in electric power generation, gas compression, and pumping systems. Sigma Labs will initially install its PrintRite3D® software on a 3D Systems’ ProX300 machine, with the potential for multiple system orders as the company ramps up to full serial production.
"We’re excited to work with Solar Turbines and help them expand their use of additive manufacturing, particularly for power generation components,” said Mark Cola, President and Chief Executive Officer of Sigma Labs. “In addition, 3D Systems is one of the largest OEMs of AM equipment worldwide, and this marks a great opportunity for us to showcase our technology on a new machine as well as new industrial applications. By demonstrating our PrintRite3D® software to Solar Turbines, we’re expanding Sigma Labs’ customer base and market penetration while continuing to validate our unique capabilities in real world environments. We look forward to working with Solar Turbines as they pursue qualification and production certification for precision metal components using additive manufacturing.”
Solar Turbines is a wholly owned subsidiary of Caterpillar Inc., with approximately 8,500 employees, and is a leading industrial gas turbine OEM. More than 15,300 Solar Turbines units, operating in 100 countries, account for over 2.4 billion hours of operating experience. Solar Turbines has over 60 years of experience with the design, development and commercialization of industrial gas turbines and turbomachinery products.
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.
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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