- Sigma Labs enters Joint Sales Agreement with industry leader Materialise to integrate, commercialize Sigma Labs’ Quality Assurance technology
- Momentous industry collaboration validates 3rd party in-process quality assurance’s critical role in adoption, acceleration of metal additive manufacturing (AM)
- SGLB’s PrintRite3D(R) is the only known technology that uniquely detects, identifies defects and anomalies real-time during 3D printing process of metal parts
- Sigma Labs looks to snag significant segment of an untapped $2 billion market
In a groundbreaking press release (http://nnw.fm/mCZ4f), Sigma Labs Inc. (NASDAQ: SGLB) announced a joint sales agreement to commercialize SGLB’s PrintRite3D Quality Assurance technology which has been integrated with the Materialise Control Platform. Materialize NV (NASDAQ: MTLS) is a recognized global leader in 3D-printing software and advanced 3D printing services. The widely used Materialise Control Platform is an embedded hardware and software solution that provides better control over the additive manufacturing (AM) process by giving full control to the end-user.
Just last November, Sigma Labs demonstrated the latest version of its proprietary PrintRite3D Real-Time Melt Pool Analytics software platform in conjunction with Materialise at the Formnext 2019 conference in Frankfurt (http://nnw.fm/9ui8U). Since then, the companies have achieved integration of their products and now will offer a unique product solution for the entire metal additive manufacturing market: the retrofit of existing AM machines, OEM machine integration and closed loop control.
A myriad of variables, from machines to materials, create production challenges in AM. The inability to know the quality of finished products until postproduction and the uncertainty of parts being produced with consistency has limited companies’ ability to scale and has severely limited the widespread adoption of additive manufacturing.
Sigma Labs is determined to change that uncertainty by using artificial intelligence (AI) to predict flaws in the meltpool during production, providing quality assurance in-process, rather than post-process. Sigma’s PrintRite3D uniquely leverages thermal signatures to monitor the quality of each part in the production process – layer by layer and in real time. This allows operators to correct or stop production of a defective part, resulting in reduced error rates and higher yields. This incredibly sophisticated and powerful technology holds tremendous value for the 3D metal printing industry, and the Materialise agreement is a clear recognition of the value.
The agreement marks the first time a 3rd party in-process quality assurance software has been integrated and embedded in an AM platform, and perhaps more importantly, the agreement also marks the launch of Sigma Labs into commercialization. Founded in 2010 by a team of Los Alamos scientists, physicists and metallurgists, Sigma Labs has undergone extensive testing and validation of efficacy, earning high marks from all parties along the way.
SGLB is in an enviable position with a market projected to exceed $2 billion dollars, based on just the estimated number of 3D metal printers shipped between 2021 and 2027. Even more significant is Sigma’s competitive role in the $2 billion market, as no comparable is known to exist. Sigma Labs is the sole provider of real-time, in-process quality control software for the metal additive manufacturing market. Beyond the looming existing market, 3D printing is booming and projected to grow at a CAGR of 32.5% from 2019 to 2020 – and Sigma should be able ride the crest of that wave as well.
A large untapped market in search of solutions, a big technological head start, strategic partnerships and alliances in place, multiple patents awarded with more pending, and a reputation as the leading technology with significant barriers to entry from competition, Sigma Labs now surges to expand commercialization.
For more information about Sigma Labs, please visit www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://nnw.fm/SGLB
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