Sigma Labs is partnering with Interactive Machines as they explore the latest 3D metal printing technologies.
Sigma Labs has announced it is set to explore the formation of a joint venture for the purposes of developing and commercialising next-generation 3D printing devices with Interactive Machines.
The company has signed a memorandum of understanding (MOU) stating both parties' intend to partner up to explore technologies in order to produce an increased 3D printing output of up to ten times more than the speeds currently available.
Both companies will enter into definitive agreements before the end of the second quarter of this year and the demonstration of a prototype is planned for introduction during the third quarter of 2014 subject to Sigma Labs and Interactive Machines obtaining adequate financing to implement a business plan.
It has been projected that Sigma Labs will have worldwide, exclusive manufacturing and marketing rights to the device and that Interactive Machines would own the intellectual property and receive a royalty from Sigma Labs for the use of its production technology.
Interactive Machines is an innovator in advanced manufacturing technology and has designed and built custom manufacturing solutions for Fortune 50 companies operating within the entire spectrum of markets, including aerospace, defence and semiconductors.
The complementing areas of expertise of the two firms will be important in developing a unique device that is designed to significantly outperform existing 3D printers that operate with metals in terms of deposition rates, while maintaining requisite part quality.
President and chief executive officer of Sigma Labs Mark Cola commented: "Upon completion of the prototype, we expect to immediately showcase the machine to potential buyers, thereby enabling our team of companies to offer a new and unique production technology to the additive metals manufacturing market."
Pursuant of the MOU, neither Sigma Labs nor Interactive Machines is obliged to take any action until mutually acceptable, definitive agreements have been executed by the parties and there is no assurance that the parties will be able to enter in to the definitive agreements on the terms proposed, or on any other terms.
President of Interactive Machines Frank Yopak welcomed the deal and stated: "I believe that the market for such a system is significant, as most users of 3D metal equipment are currently limited by slower production rates and lower overall machine productivity."