Shares of Sigma Labs (NASDAQ: SGLB) have soared on Monday after the company revealed it has been awarded a contract for an initial system of its PrintRite3D in-process quality assurance solution by Lockheed Martin’s Space Additive Design & Manufacturing Center based in Sunnyvale, California.
Sigma’s share price has rallied over 155% to $8.53 after closing Friday’s session at $3.34.
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The centre supports the entire Space portfolio and integrates essential materials research and manufacturing processes for Lockheed.
As part of the agreement, Lockheed will assess the viability and performance of PrintRite3D technology for the Space division in support of a variety of defence and civil space programs.
PrintRite3D® is an interactive in-process quality assurance system that combines inspection, feedback, data collection and critical analysis.
“We are extremely pleased to welcome Lockheed Martin’s Space Additive Design & Manufacturing Center as a Sigma Labs customer,” said Mark Ruport, President and CEO of Sigma Labs.
“It’s gratifying that they recognize the commitment our company has made to supporting the entire additive manufacturing industry with innovative in-process quality solutions,” Ruport added.