AMPD Partners with Lightbits Labs™ as their first Cloud Service Provider Partner with the Aim of Developing One of the World’s Fastest High-Performance Storage Systems for the Media & Entertainment Sector
February 16, 2021
Vancouver, British Columbia – February 16, 2021 – AMPD Ventures Inc. (“AMPD” or the “Company”, CSE: AMPD; FRA: 2Q0) is pleased to announce that it has been selected as the first company to sign a CSP (Cloud Service Provider) agreement with Lightbits Labs Inc. (“Lightbits”).
AMPD and Lightbits, in conjunction with Intel® Corporation and utilizing Intel® Optane™ technology, are in the process of developing a new high-performance storage system specifically targeting the needs of the rapidly evolving media and entertainment sector. The system is being designed to be one of the fastest storage systems ever built to run digital media production specific workloads, including animation and visual effects rendering, as well as data capture and storage for the high speed cameras associated with volumetric capture and real-time virtual production.
Founded in 2016, the Lightbits team were key contributors to the development of the new NVMe (Non-Volatile Memory Express) protocol and an originator of NVMe over Fabrics (NVMe-oF™) standards. Lightbits is a key player in helping drive the transition from inefficient Direct-Attached SSD architecture to low-latency shared NVMe flash architecture. As businesses contend with the perpetual growth of data, they need to rethink how data is captured, preserved, accessed, and transformed. Performance, economics, and endurance of data at scale is paramount. NVMe is having a great impact on businesses and what they can do with data.
“As the first Lightbits CSP Partner, AMPD is working directly with engineers from both Lightbits and Intel to architect this next generation digital media storage system based around the NVMe over TCP protocol,” said Anthony Brown, CEO at AMPD. “We plan to offer these solutions to customers as part of our High-Performance Cloud service offering, helping them access cutting-edge technology on an opex basis.”
“AMPD’s High-Performance Computing at the Edge approach to cloud computing is closely aligned with the goals of Lightbits,” said Eran Kirzner, Co-Founder and CEO of Lightbits. “Our technology is designed specifically to increase performance and manageability of data. In high-performance media and entertainment environments such as those that AMPD operates, it is crucial that data storage performance keeps up with the high-speed processors being utilized. When thousands of processors are working on a rendering job for example, those servers may be accessing millions of files simultaneously. Traditional storage systems cannot keep up when it comes to serving these platforms effectively.”
The global next-generation data storage market size was estimated at USD 65.28 billion in 2020 and is expected to grow at a compound annual growth rate of 12.5% from 2019 to 2025 to reach USD 118.22 billion by 2025 (1).
About Lightbits Labs™
Lightbits Labs’ mission is to lead the cloud-native data center transformation by delivering scalable and efficient software defined storage that is easy to consume. Founded in 2016, Lightbits brings the agility of hyperscale storage to private clouds and edge clouds. The company pioneered NVMe/TCP so the solution is easy to deploy at scale, while delivering performance that is similar to local flash. Lightbits Labs is backed by strategic investors including Cisco Investments, Dell Technologies Capital, Intel Capital, and Micron, as well as top investors and VCs including Avigdor Willenz, Lip-Bu Tan, Marius Nacht, SquarePeg Capital, and WRVI Capital.
About AMPD Ventures Inc.
AMPD Ventures Inc. (CSE: AMPD), through its operating subsidiary, AMPD Holdings Corp. (dba “AMPD Technologies”), specializes in providing high-performance cloud and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anthony Brown”
CEO & Director
AMPD Ventures Inc.
Tel: 604-332-3329 ext. 3
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to the perceived benefits and outcomes of the relationship between AMPD and Lightbits, AMPD’s participation in the Lightbits Cloud Service Provider program, including the success of the high-performance storage system to be jointly developed, and expectations for the growth rate for the global data storage market over the next few years.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including expected benefits and outcomes of its participation in the Lightbits Labs Cloud Service Partner Program, as well as growing market demand for high-performance computer storage solutions. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include the inability of AMPD and Lightbits to successfully develop the systems described herein, the market fit or applicability of such systems, market demand for next generation storage systems not happening as quickly as assumed or at all, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Form 2A Listing Statement dated October 17, 2019 and “Risk and Uncertainties” in the Company’s most recent Management Discussion and Analysis filed on SEDAR.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada.
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