Sigma Labs, Inc. (NASDAQ: SGLB) disclosed Monday that it has entered into an agreement with Lockheed Martin (NYSE: LMT). As per the deal, the Space Additive Design & Manufacturing Center of LMT has conferred a deal to SGLB for its PrintRite3D(R) solution. The California-based center provides aid to the entire space portfolio and also responsible for combining vital materials research and production processes to ensure the flawless delivery of necessary satellite modules.
According to the term of the agreement, Lockheed Martin will initially carry out the duty to evaluate the performance and feasibility of PrintRite3D technology for the Space division in the support of a broad range of defense and civil space programs. PrintRite3D is a collaborative in-procedure quality management system that combines audit, response, data gathering, and crucial assessment.
Shares of Sigma Labs skyrocketed 127.40% at $7.59 at the time of writing on Monday. Sigma Labs has gained +4.25 during the trading session of Monday and recorded the day low range of $4.90 and a high range of $9.75. The firm’s share has rocketed with a heavy volume of 278.37 million as compared to the average volume of 427.02K. SGLB market capitalization has reached $25.38 million at the time of writing on Monday.
Lockheed Martin Space disclosed that the firm has chosen Sigma Labs after reviewing its needs. After the analysis of its need, the firm came to know that the PrintRite3D (R) system of SGLB is the best fit for the enterprise because of its strong assessment abilities, quality guarantee solutions, data acquisition technology, and scalable performance across numerous OEM 3D printing platforms.
Sigma Labs is also excited to serve its customer and expressed gratitude to Lockheed for identifying the potential of the firm. Lockheed Martin has identified the dedication of the firm to offer assistance to the whole additive production industry with advanced in-process quality solutions.