AMPG - .062/.069
AmpliTech Receives First Extendable $500,000 Multiple Award Government Contract
Bohemia, NY , April 10, 2018 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (OTCQB: AMPG) announced today that its subsidiary, AmpliTech Inc. was awarded a General Services Administration (GSA) Multiple Award Contract initially valued at an estimated $500,000. The contract begins April 6, 2018 and ends on April 5, 2023 with the potential of three (5) year options to extend it . The contract can increase in value since this enables AmpliTech to access many open government solicitations as a GSA Multiple Award Recipient. Fawad Maqbool, President and CEO, stated, The GSA purchases over $45 Billion of Goods and Services required to operate the Federal Government and its over 800 Federal Agencies. Securing this contract is very beneficial for our organization to increase contracting opportunities with the United States government. Our amplifiers have many applications for government agencies such as the Army, Navy, Air Force, DoD, Administration services, and many others (over 800 in all) in terms of communication equipment (surveillance drones, Wi-Fi solutions, radar systems, satellite payloads and ground stations to name just a few). There are a whole host of others, and this award will allow access to multiple solicitations from the Federal agencies for AmpliTech and its unique product line that would not have been possible without this award. We can now offer the largest customer in the world, products for research and development (NASA, DoD, DARPA, etc.) as well as for everyday technology necessary for daily operations as well as state-of-the-art products used in vehicles, offices, and just about everywhere in the world. We are very excited about this award and look forward to taking advantage of this huge opportunity. It took us many years of preparation, but we finally succeeded.
CFO Louisa Sanfratello added, considering that a company like SpaceX receives many of its largest contracts from the GSA, gives us an idea of how significant this award is for a leading technology company like AmpliTech. We look forward to continue building our business, and this is a huge step in the path to our growth and success.
Key benefits of the GSA Award are:
-- Preferred vendor for all government contracts that require
microwave/millimeter wave amplifiers because the prices have already been
deemed fair and reasonable
-- Streamlined purchasing process that reduces the number of competitors
eliminating time-consuming responses to RFPs
-- Estimated award value of $500,000 can increase as government solicitation
responses increase
-- Worldwide geographic coverage for all government agencies
-- Competitive advantage in Federal market and in some cases the State and
Local Government as well
The award demonstrates AmpliTechs standing as a reputable and capable technology company with years of experience in delivering quality products. The Company is an ISO 9001:2015 registered organization.
