Bohemia, Nueva York, June 16, 2021 (GLOBE NEWSWIRE) — AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art RF semiconductors for satellite and 5G communications networks, defense, space and other commercial applications, today announced a strategic investment and joint venture with SN2N LLC to design and manufacture an unhackable communications channel that creates a new security paradigm: state-of-the art signal amplification secured by intelligence-community-caliber hardware encryption. This joint development effort has already completed a proof-of-concept demonstration of the solution, which is designed to provide clients with an additional layer of security at the hardware level without sacrificing performance. The joint venture is now progressing to develop commercial-grade solutions based on proprietary chipsets designed to provide extremely secure data transfer to any cell phone, computer, server, router, PDA, etc. to address the market’s need for stronger communications security solutions.
To support development efforts for the joint venture, AmpliTech has committed up to $350,000 to purchase an initial equity stake in SN2N. The full funding of the investment is contingent on the completion of three additional development milestones: a secure device coding test, code optimization test, and FPGA design & production test. Upon successful completion of performance qualifications testing, AmpliTech would serve as exclusive manufacturer for the LNA product line used with this encryption technology.
The joint venture is intended to address the growing need for additional security in solutions that require wireless connections. Today an unprecedented level of connectivity is being built out to power speed and bandwidth demands of data and content distribution, Internet-of-Things (IoT) solutions, autonomous vehicles, quantum computing, deep space exploration, etc. Security is a top concern in any of these spaces. Currently, amplifiers used by companies in these rapidly growing spaces are not themselves encrypted at the hardware and stand to benefit greatly from the joint venture’s communications solution designed to deliver far greater bandwidth, data transfer speeds, and integrated hardware security.
The market opportunity is being fueled by anticipated rapid growth in the deployment of Low Earth Orbit Satellites communications as well as the build out of true 5G communications networks that can achieve transmission speeds of up to 20 gigabits per second (Gbps) or approximately 400X faster than current 5G performance of roughly 50 megabits per second (Mbps). The joint venture’s solution seeks to allow network providers to achieve substantially improved data carriage capacity, speed and security while significantly reducing related Capex requirements.
CEO Fawad Maqbool, stated, “SN2N was formed by a highly experienced team to provide state-of-the-art hardware-based security technologies previously only available to the global intelligence community for National Security applications. Our joint vision is to address the urgent need to provide next-generation data transmission capabilities and security required to support projected exponential growth in transmission requirements. This joint venture underscores AmpliTech’s commitment to innovation and leadership in building upon our best-in-class solutions to deliver new and enhanced products that deliver unrivaled performance and value to our customers. Our size and innovative culture enable us to move quickly and efficiently – something that is largely impossible at larger, less entrepreneurial companies.”
About AmpliTech (www.amplitechinc.com)
AmpliTech Group, Inc. designs, develops, and manufactures state-of-the-art radio frequency (RF) components for global satellite communications, telecom (5G & IoT), space, defense and quantum computing markets. 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 the unique skills, experience and dedication of our focused team which enables us to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business.
About SN2N LLC
SN2N is a start-up and developer of low-cost, platform-independent data protection and encryption solutions to protect communications between mobile devices, network appliances and servers. SN2N seeks to deliver security solutions currently only available on intelligence-community trusted devices at a much more affordable cost. The intelligence community protects devices utilizing a combination of integrated hardware and trusted software; however, these methods are expensive, require “custodians”, specialized training, and special secure facilities which are both unavailable and prohibitively expensive for most enterprise customers. SN2N was formed by a team of DoD security experts and technology industry veterans possessing over 100 years of collective experience and industry relationships.
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, all of 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.
Company Contact Investor Contact:
Shan Sawant, Director of Communications David Collins, Investor Relations
AmpliTech Group, Inc. Catalyst IR
[email protected] [email protected]
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