Sigma Labs, Inc. (OTCQB: SGLB) ("Sigma Labs" or the "Company"), a developer of advanced, in process, non-destructive quality inspection systems for metal-based additive manufacturing and other advanced manufacturing technologies, today announced that it has received a contract from Honeywell Aerospace as part of a Defense Advanced Research Project Agency (DARPA) Phase II award; Phase I work was completed earlier in 2014. The DARPA program's goal is to develop an Integrated Computational Material Engineering (ICME) framework to accurately predict the properties of metal components produced using additive manufacturing. Phase II work is expected to begin in the fourth quarter and run through mid-2016, with a total award value to Sigma Labs of approximately $0.5 million.
"We are pleased to have been selected for this follow-on contract with Honeywell as part of a Phase II DARPA award," said Mark Cola, President and Chief Executive Officer of Sigma Labs. "Having successfully completed the Phase I piece of the program earlier this year, we look forward to working with Honeywell and its team to further demonstrate our PrintRite3D® technology for precise metal manufacturing applications. Through this award we will have additional opportunities to showcase our unique software and help develop a standardized, rapid-qualification approach to metal 3D printing, potentially leading to faster commercialization of our cutting-edge technology."
Source: Sigma Labs, Inc.
Date: Nov 3, 2014