Sigma Labs Inc (NASDAQ:SGLB) has obtained a contract from Laser Zentrum Nord GmbH, a major Additive Manufacturing technology and research innovator based in Hamburg for PrintRite 3D INSPECT®. As of now, the terms of the deal have not been revealed.
The two firms have also agreed to actively associate to certify Sigma’s IPQA® solutions and methodology for serial production 3D printing in the segment of aerospace. The PrintRite3D® system is set to be deployed onto a selective laser melting machine of SLM Solutions. John Rice, the CEO of Sigma Labs, expressed that developments of 3D metal printing into manufacturing have been hindered by the inability to monitor, identify and mitigate faults during the printing procedure.
They are thrilled to collaborate with Laser Zentrum on the in- process dynamic performances that cause defects and to validate and document the way PrintRite3D IPQA® software resolves these issues. This contract further establishes company’s position as a pioneer in third-party, platform independent quality guarantee for the metal additive manufacturing market.
This instillation will get an additional machine platform to company’s successes for the implementation of PrintRite 3D quality assurance technology. The Laser Zentrum, established in 2009, pursues the objective of decisively promoting technology and knowledge transfer from basic research to actual industrial application. Their goal is to decisively enhance, accelerate and facilitate the transfer of technology and knowledge to industrial application from basic research. The LZN works as a link between application and basic research in an effort to fortify firm’s completive position within their relevant industries.
In the last trading session, the stock price of Sigma declined more than 12% to close the day at $3.05. The decline came at a share volume of 3.50 million compared to average share volume of 269,139. After the recent decline, the market cap of firm was noted at $16.5 million.