With Domestic IP Data Networking, Power Storage, Cybersecurity, and IoT Company

HAUPPAUGE, N.Y., Aug. 20, 2024 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW), a designer, developer, and manufacturer of state-of-the-art signal processing components for satellite, Public and Private 5G, and other communications networks, including the design of complete 5G/6G systems and a global distributor of packages and lids for integrated circuits assembly, today announced the signing of a Memorandum of Understanding (MOU) with a USA based IP Data Networking company to deploy a Private 5G Network in the state of California.

AGTGSS, a provider of advanced 5G telecommunications solutions, is pleased to announce this MOU which aims to initiate our first Private 5G Network deployment within the continental United States. This would mark a significant milestone in AGTGSS's commitment to delivering cutting-edge 5G telecommunications infrastructure solutions across the United States and globally.

The MOU outlines the deployment of a complete Private 5G Network tailored to meet the specific needs of the customer, aiming to enhance connectivity to thousands of users while also providing signal reliability and security. AGTGSS's advanced technology solutions are poised to transform the customer's operations, to enable seamless connectivity for its users across the deployed sectors. Subject to entering into a definitive agreement, this MOU provides for an end-to-end solution deployment of ORAN P5G radio networks, Central and Distribution Units, software services and CPE hardware products to be installed externally and inside of end customer’s homes. AmpliTech will also provide network planning and optimization services.

“We are thrilled our Private 5G solutions have been selected to enter this MOU, which could lead to more of this type of projects across locations in the US.” said Fawad Maqbool, CEO of AGTGSS. “Once a definitive agreement is reached for this deployment, it will underscore our expertise in delivering scalable, secure, and high-performance 5G networks that empower businesses to achieve their digital transformation goals.” Furthermore, Mr. Maqbool stated that “Securing our Private 5G product licensing was key and participation in an inaugural Private 5G deployment, could signify a pivotal milestone in our growth strategy and validate our efforts to enter both the Public and Private 5G markets, which collectively represent a multi-million-dollar addressable market.”

This domestic Private 5G Network deployment is expected to commence within the current fiscal year, could be valued in excess of $1M and can be finalized within 3 months after receipt of a final definitive contract agreement. AGTGSS anticipates being able to expand its footprint across multiple cities in the USA and Europe in the coming months, following this initial trial deployment.