- SGLB
awarded final phase of RTE contract with leading global energy technology
company
- Successful
completion of Phase 2 contract could result in material commercial order
from global client
- Sigma
Labs establishing enviable position in 3D printing industry with breakthrough
PrintRite3D software
Sigma
Labs Inc. (NASDAQ: SGLB), a leading developer of quality assurance software
for the commercial 3D-printing industry, announced that it has been awarded a
Phase 2 rapid test and evaluation (RTE) contract by a leading global energy
technology company. This final phase of an RTE contract is required to enable
end-users to make a purchase decision on deploying Sigma’s technology in serial
production (http://ibn.fm/iezKd).
The two-machine contract for the deployment of Sigma Lab’s
PrintRite3D(R) in-process quality assurance software comes after the successful
Phase 1 completion of the rapid test and evaluation (RTE) program. Sigma Labs
anticipates that a successful Phase 2 RTE outcome could result in a material
commercial order from the customer that would integrate PrintRite3D into
existing dedicated commercial production machines. This contract has
significant implications for Sigma as it continues to penetrate the global energy
service sector (http://ibn.fm/BYQGB),
which has been “projected to reach USD 86.9 billion by 2024 from an estimated
USD 52 billion in 2019.”
“The conversion from our initial test and evaluation program
to the Phase 2 pilot rollout is a testament to the traction our enabling
technology is garnering in the additive manufacturing industry,” said Sigma
Labs chairman and CEO John Rice. “We look forward to working with this
well-respected industry leader known for their innovative technology and
superior service to drive improved and serial printing quality on their
production lines.”
It wasn’t revealed until the Q3 earnings call that the RTE
customer is Baker Hughes. Baker Hughes provides technology and services that
enable oil and gas companies in more than 120 countries to deliver safe,
affordable energy to the world. Baker Hughes’ vast technological prowess
creates value by developing new ways to improve well construction efficiency,
integrates technology and services to develop new solutions that accelerate and
optimize hydrocarbon production, and researches new ways to increase ultimate
recovery.
The announcement of the Phase 2 contract was followed with
other impressive news from Sigma as it continues to gain traction and
recognition in the industry. The company was also selected by a major Japanese
OEM machine tool manufacturer for a test and evaluation program of
PrintRite3D’s real-time, melt-pool analytics (http://ibn.fm/HRWBx). SGLB was also awarded a contract
by VTT Technical Centre of Finland to install PrintRite3D at the VTT
3DMetalprint Centre for Additive Manufacturing, enabling VTT to best support
its customers’ development activities.
Sigma Labs is a leading provider of quality assurance
software to the commercial 3D printing industry under the PrintRite3D brand.
Founded in 2010, Sigma is a software company that specializes in the
development and commercialization of real-time, computer-aided inspection
solutions for 3D advanced manufacturing technologies. Sigma Labs’ advanced
computer-aided software product revolutionizes commercial additive
manufacturing, enabling nondestructive quality assurance mid-production,
thereby allowing errors to be corrected in real time.
For more information, visit the company’s website at www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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