HAUPPAUGE, N.Y., April 16, 2025 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW), a leading designer, developer, and manufacturer of advanced signal processing components for satellite, public and private 5G, and other communications networks, including full 5G/6G system design and global distribution of integrated circuit assembly packages and lids, today announced the receipt of company-record Purchase Orders valued at approximately US$11 million. These orders are part of a multi-year Letter of Intent (LOI) from a Tier 1 Mobile Network Operator (MNO) in North America, further solidifying AmpliTech's position as a key provider of ORAN 5G radio solutions.
This new LOI follows closely on the heels of another major US$78 million LOI announced earlier this month, bringing the total value of signed LOIs with two leading ORAN 5G telecom customers, to over US$100 million. To date, AmpliTech has received approximately US$12 million in firm purchase orders under these agreements, all of these deliverable within FY2025.
"We are thrilled to announce this milestone achievement, which comes just weeks after our previous record-setting LOI," said Fawad Maqbool, CEO/CTO of AmpliTech Group. "These ~US$11 million PO's, a company record, not only affirms the commercial readiness of our 5G ORAN radios, but also reflects our emergence as a frontrunner in the global ORAN 5G marketplace. This new engagement with one of North America's most prominent Tier 1 MNOs, recognized for its innovation and high-quality network services, highlights the demand for our differentiated ORAN 5G technology."
Mr. Maqbool continued, "These back-to-back agreements mark a significant turning point for AmpliTech Group, as we execute on our strategy to expand our presence in the next-generation 5G ORAN telecom landscape. As these LOIs are fulfilled with additional purchase orders, they will pave the way for AmpliTech to become a dominant force in the delivery of high-performance ORAN 5G radio products."
Looking forward, AmpliTech expects continued momentum in the 5G ORAN sector through deepening collaborations with these Tier 1 telecom partners. The confidence these companies have placed in AmpliTech's advanced manufacturing capabilities and engineering excellence further underscores the company's rising stature in the industry.
Jorge Flores, Chief Operating Officer of AmpliTech Group, added, "This is a defining moment for AmpliTech. These achievements lay the foundation for a transformative chapter in our growth, in addition to previously announced agreements, record breaking LOI's now worth in excess of US$100 Million, we have now achieved an strategic validation of our 5G ORAN technology by getting orders from an established leading MNO in the telecom industry, we are certainly energized by the opportunities that lie ahead."
ADDITIONAL COVERAGE
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About AmpliTech Group
AmpliTech Group, Inc., comprising five divisions, AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services is a leading designer, developer, manufacturer, and distributor of cutting-edge radio frequency (RF) microwave components and 5G network solutions. Serving global markets including satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, AmpliTech Group is committed to advancing technology and innovation. For more information, please 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 o?cers with respect to, among other things, that the receipt of these orders and level of orders will lead to further production orders, work for the customer, growth and profitability. The words "may" "would" "will" "expect" "estimate" "anticipate" "believe" "intend" for 5G orders 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 identi?ed and described in more detail in the "Risk Factors" section of the Company's ?lings with the SEC, which are available on our website and with the SEC at sec.gov. 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.
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Company Contact:
Jorge Flores
Tel: 631-521-7831
Investors@amplitechgroup.com
