Sigma Labs Expands into U.S. Federal Government Markets with Appointment of Phillips Federal as Exclusive Reseller

Rhea-AI Summary

Sigma Labs has appointed Phillips Federal as its exclusive reseller to the U.S. federal government, aiming to provide a standardized quality monitoring solution for additive manufacturing. The partnership will include the installation of the PrintRite3D system at the Phillips Additive Innovation Center, enhancing training and demonstrations for Department of Defense personnel. This collaboration is expected to improve part qualification and production efficiency in government initiatives, reflecting a commitment to quality and scalability in the additive manufacturing sector.

Positive

• Appointment of Phillips Federal as exclusive reseller to the U.S. federal government.
• Installation of PrintRite3D system at Phillips Additive Innovation Center for demonstrations and training.
• Expected improvement in part qualification and efficiency for additive manufacturing in government projects.

Negative

• None.

Leading Additive Manufacturing Companies Combine to Offer Scalable Quality Assurance Solution

SANTA FE, NM / ACCESSWIRE / February 24, 2022 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software to the commercial 3D printing industry, today announced that it has named Phillips Federal, a Division of Phillips Corporation, as the company's exclusive reseller to the United States federal government. The purpose of the agreement is to deliver an agnostic quality monitoring and analytics solution to standardize qualification across government installations, unify various technologies and accelerate readiness, quality, scale, and supply chain options for the U.S. government.

To facilitate the ability of Phillips Federal to provide testing and onsite demonstrations, Sigma Labs will install a PrintRite3D® system at the Phillips Additive Innovation Center inside the Army Center of Excellence for Advanced Manufacturing at Rock Island Arsenal Joint Manufacturing and Technology Center. Phillips' Additive Innovation Center is a dedicated space utilized in conjunction with their collaborative work with the Department of Defense (DoD) to educate, inspire, and redefine the capabilities of additive manufacturing. The PrintRite3D system will be installed on an EOS M290 DMLS machine to be used for demonstration, training and education of DoD personnel on the benefits of in-process monitoring.

Joe Harrison, President of Phillips Federal, stated, "We are extremely pleased to represent a company of the caliber of Sigma Labs. Our domain and implementation expertise, combined with the PrintRite3D in-process monitoring and analytics solution, makes for a great combination to improve part qualification and process efficiency in additive manufacturing implementations throughout the U.S. government."

According to Mark Ruport, CEO of Sigma Labs, "Phillips Federal is a great choice to serve as our reseller partner to the federal government because of their incredible team of experts that offer a wide variety of additive manufacturing services to solve the biggest logistic challenges in the DoD and other agencies. Phillips Federal mirrors our commitment to improve the quality and production scalability of government additive manufacturing initiatives while maintaining a laser focus on client value."

About Sigma Labs

Sigma Labs Inc. is a leading provider of in-process quality assurance (IPQA™) software to the additive manufacturing industry. Sigma Labs specializes in the development and commercialization of real-time monitoring and analytics solutions known as PrintRite3D® for 3D metal and polymer advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process, enabling significant cost-savings and production efficiencies. Sigma Labs believes its software product will be a major catalyst for the acceleration and adoption of industrial 3D printing. For more information, please visit www.sigmalabsinc.com.

About Philips Corporation

For more than 60 years, federal government, private sector industry and education leaders have trusted the experts at Phillips Corporation to solve their greatest manufacturing challenges. Our mission is to create legendary value for the manufacturing community by unlocking solutions to propel capabilities, profitability, and productivity. Phillips represents a robust combination of equipment, applications expertise, and services that are well-suited to meet the growing range of present and future manufacturing applications requirements.  Learn more at phillipscorp.com/federal.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, market and other conditions, Sigma Labs' business and financial condition, the extent of the market's acceptance of PrintRite3D® version 7.0, Sigma Labs' ability to satisfy its capital needs through increasing its revenue and obtaining additional financing, and the impact of COVID-19, general economic, industry or political conditions in the United States or internationally. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see disclosures contained in Sigma Labs' public filings with the SEC, including the "Risk Factors" in Sigma Labs' Annual Report on Form 10-K, and which may be viewed at www.sec.gov.

CONTACT:
Investor Contact:
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
SGLB@mzgroup.us
www.mzgroup.us

Company Contact:
Steven Gersten
Sigma Internal IR
813-334-9745
investors@sigmalabsinc.com

SOURCE: Sigma Labs, Inc.

View source version on accesswire.com:
https://www.accesswire.com/690203/Sigma-Labs-Expands-into-US-Federal-Government-Markets-with-Appointment-of-Phillips-Federal-as-Exclusive-Reseller

FAQ

What is Sigma Labs' new partnership with Phillips Federal?

Sigma Labs has appointed Phillips Federal as its exclusive reseller to provide quality assurance solutions to the U.S. federal government.

What technology will be installed at the Phillips Additive Innovation Center?

The PrintRite3D system will be installed at the Phillips Additive Innovation Center to aid in demonstrations and training.

What is the purpose of the PrintRite3D system?

The PrintRite3D system is designed to monitor and analyze quality in real-time during the additive manufacturing process.

How does this partnership affect Sigma Labs' business?

This partnership aims to enhance Sigma Labs' presence in the government market and improve production efficiency for federal manufacturing initiatives.