AmpliTech Group Awarded Membership into Meta Platform’s Telecom Infra Project

Rhea-AI Summary

AmpliTech Group, Inc. (NASDAQ: AMPG) announced its membership in the Telecom Infra Project (TIP), aimed at enhancing telecom infrastructure. This move comes alongside the launch of its TGSS division, which focuses on 5G systems. Founder and CEO Fawad Maqbool highlighted the importance of this recognition for AmpliTech as a key player in next-gen telecom networks. TIP's initiative includes collaboration with industry leaders to tackle the challenges of modern telecommunications, including high data transmission rates needed for emerging technologies.

Positive

• Awarded membership in the Telecom Infra Project (TIP), enhancing industry credibility.
• Launch of the TGSS division focusing on designing and deploying 5G systems.
• Offering advanced low noise amplifiers, improving data transmission speed and reliability.

Negative

• None.

Hauppauge, NY, Sept. 21, 2022 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks and a worldwide distributor of packages and lids for integrated circuit assembly, and designer of complete 5G/6G systems, today announced that it has been awarded membership into the Telecom Infra Project (TIP), a telecom focused organization formed by Meta Platforms.

TIP was formed to align industry leaders in the telecom space as an engineering-focused initiative that brings operators, infrastructure providers, system integrators, and other technology companies together to collaborate on the development of new technologies as well as reimagine traditional approaches to building and deploying telecom network infrastructure.

AmpliTech is joining the project shortly after the launch of its new division, TGSS, which is focused on designing, building, integrating, deploying, and maintaining complete 5G systems as a managed service. The Company also manufactures leading low noise amplifier designs that increase throughput and reliability, leading to higher data transmission throughput and decreased network downtime.

Founder and CEO Fawad Maqbool stated, “AmpliTech is proud to join the prestigious TIP organization and be recognized as a leading enabler of next-gen telecom networks that will power the future of mobile networking technology. AmpliTech was founded with the mission of enabling human connectivity like never before. From the start, we anticipated the day when telecom networks would simply not be able to support the increased data transmission rates required by the broader industry. Everything we have built has been to address this impending challenge.”

“Meta established the TIP program to draw attention to the lack of performant telecom infrastructure that enables developments like augmented reality/ virtual reality, metaverse, and high-resolution video streaming, and collaborate with industry leaders to develop solutions to this problem. AmpliTech currently offers solutions which include our leading edge performance Low Noise Amplifiers that enable data transfer to occur at higher speeds. We’re also working to develop key partnerships and offering our technical support to others in our constant search to be designed into programs that require AmpliTech’s differentiating and proven low noise technology.  Joining TIP brings us into a group of like-minded contributors focused on improving the world’s telecom infrastructure. We’re excited to be in a position to contribute to this cause as we all work together to meet the challenges the industry is facing today,” concluded Mr. Maqbool.

About AmpliTech Group

AmpliTech Group, Inc. designs, develops, manufactures, and distributes state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. In December 2021, AmpliTech completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. a global specialty distributor of semiconductor components based in San Jose, CA. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of our focused team's unique skills, experience and dedication, which enables us to deliver superior solutions, faster time to market, competitive pricing, excellent customer satisfaction and repeat business. For more information, visit: www.amplitechgroup.com

Safe Harbor Statement

This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's ability to execute its business plan as anticipated; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may" "would" "will" "expect" "estimate" "anticipate" "believe" "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising these forward-looking statements, except as required by applicable law.

Corporate Social Media                                                       
Twitter: @AmpliTechAMPG                                               
Instagram: @AmpliTechAMPG                                          
Facebook: AmpliTechInc

Company Contact:                                                                  
Shan Sawant, Director of Communications                   
AmpliTech Group, Inc.                                                           
shan@amplitechgroup.com                                               
646-546-7128

Investor Social Media                                                           
Twitter: @AMPG_IR
StockTwits: @AMPG_IR

Investor Relations Contact:
Kirin Smith, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com
www.pcgadvisory.com

FAQ

What is AmpliTech Group's recent announcement regarding TIP?

AmpliTech Group has been awarded membership in the Telecom Infra Project (TIP), focusing on improving telecom infrastructure.

How does TIP relate to AmpliTech's business strategy?

TIP aligns with AmpliTech's strategy to develop and deploy advanced telecom technologies, especially in the 5G sector.

What is the significance of the TGSS division for AmpliTech Group?

The TGSS division aims to design and manage complete 5G systems, positioning AmpliTech as a leader in telecom solutions.

How will AmpliTech Group's membership in TIP impact its operations?

Membership may enhance collaboration with industry leaders and improve the development of next-gen telecom infrastructure.