- AmpliTech was tasked by Amplify My Probe with creating a special cryogenic probe head to facilitate studies on materials, molecules, and drugs
- The probe is expected to help speed up Electron Paramagnetic Resonance experiments by more than 100 times
- AmpliTech will be the exclusive manufacturer for the device, and Amplify My Probe will have sole global distribution rights for at least the first 18 months
- Since uplisting to NASDAQ in February 2021, AmpliTech has raised $30 million, creating a strong balance sheet and cash position for the company and allowing it to stay focused on growth and hedge against future market volatility
AmpliTech Group (NASDAQ: AMPG, AMPGW), a designer, developer and manufacturer of custom and standard state-of-the-art RF components for various markets including commercial, SATCOM, space, defense and military, received a significant developmental order for a special cryogenic probe head used to facilitate studies on materials, molecules, and drugs to treat diseases, among other applications (https://ibn.fm/PYlkm).
The order was placed by Amplify My Probe, Ltd., a company that emerged from the Quantum Spin Dynamics group at the London Centre for Nanotechnology and UCLQ, and which specializes in commercializing technology to improve signal to noise ratio in Electron Paramagnetic Resonance (“EPR”) experiments.
AmpliTech’s will leverage its proprietary cryogenic low-noise amplifier technology that operates at 5 degrees Kelvin (-450 degrees Fahrenheit), to create the requested probe. The amplifier technology has a low power dissipation and can also be used in quantum computing, nanophysics, and astronomy applications.
The exclusive manufacturer for the product will be AmpliTech, with Amplify My Probe having the sole global distribution rights for a term of at least 18 months. Other possible applications include speeding up new drug design, increasing efficiency in catalytic processes, and discovering new materials for future quantum computers.
According to Dr. Simenas Mantas, one of the Amplify My Probe team members who designed the EPR cryogenic probe, the device is expected to significantly speed up EPR experiments by amplifying microwave signals and suppressing source noise. We anticipate close to 100x speedup of the experiments. Such an improvement is highly relevant in the field as it will significantly expand the domain of systems that can be studied by EPR. Among such systems are biomolecules, catalytic surfaces, materials for quantum computing and others,” Dr. Mantas added.
AmpliTech CEO Fawad Maqbool added that his company was looking forward to working with Amplify My Probe to help develop this innovative new product that will advance materials science and medical technology. “AmpliTech Group, Inc. is dedicated to being a driving force and leader in amplifier technology for communications and microwave applications that are part of everyday life around us,” Maqbool said.
This contract has the potential to help strengthen AmpliTech’s position in an expanding market and pave the way to new opportunities for growth in the future. The global market for RF components in 2020 was valued at $23.79 billion, and is expected to grow at a CAGR of 14% through 2025, resulting in an estimated $45.05 billion market (https://ibn.fm/26TSZ). The company has plans to be a facilitator for enhancing, developing, and distributing breakthroughs in the following markets:
- High speed terrestrial and satellite terminals (SATCOM, “Internet in the Sky”)
- IoT (Internet of Things)
- Quantum supercomputers and research
- Autonomous self-driving vehicles
- Drones, AUVs (unmanned aerial vehicles)
- Military and defense ECM/EW
- 5G/Wi-Fi6E and 6G wireless infrastructure (cellular base stations, small cells, private Wi-Fi networks)
- Cloud farms, big data, and MEC architecture
- Deep space astronomy
- Telemedicine, AR/VR (augmented and virtual reality)
- Cybersecurity
AmpliTech recently announced that since the company uplisted to NASDAQ on February 17, 2021, it has raised more than $30 million in capital. The company believes that this is a sign of validation of its strategic growth plan among the investment community (https://ibn.fm/wDoNo). “We are pleased to see the level of interest by so many investors in these capital raises,” Maqbool said. “We have raised this capital to strengthen the Company financially and thus be better positioned to fulfill larger orders and broaden our customer base.”
With the proceeds, AmpliTech plans to allocate funding, funneling it into specific endeavors. Among the potential uses of the $30 million raised, the company plans to focus on:
- Funding organic growth by sales force expansion and boosting the business development and marketing efforts,
- Expanding the production capabilities while strengthening the operations team,
- Making strategic acquisitions or acquire complementary intellectual properties,
- Funding additional research and development efforts to sustain continued organic growth, and
- Purchasing capital equipment to increase production efforts for productivity and engineering support.
The current investments into AmpliTech allow the company to pay down debt and use cash (and non-dilutive methods) for M&A activities aimed at building a world that the company envisions sustaining through its proprietary technology designed to improve everyone’s quality of life – whether it be through smart homes, cities, or high-speed 5G connectivity.
For more information, visit the company’s website at www.AmpliTechInc.com.
NOTE TO INVESTORS: The latest news and updates relating to AMPG are available in the company’s newsroom at https://ibn.fm/AMPG
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