AMPD Subsidiary AMPD Technologies Inc. Announces CAD $1.8M Binding Memorandum of Understanding with Unleash Future Boats GmbH
June 15, 2022
Vancouver, British Columbia – AMPD Ventures Inc. (CSE: AMPD) (OTCQB: AMPDF) (FRA: 2Q0) (“AMPD” or the “Company”), a next-generation digital infrastructure provider, is pleased to announce that its wholly-owned subsidiary, AMPD Technologies (Canada) Inc. (“AMPD Technologies”), has entered into a binding Memorandum of Understanding (“MOU”) with Unleash Future Boats GmbH (“UFB”), for CAD $1.8 million in revenue to AMPD as part of an anticipated broader collaborative relationship between the two companies. UFB are experts in water-based autonomous transportation and recipients of the Regulatory Sandbox Innovations Award by the Federal Republic of Germany.
AMPD Technologies will be developing and manufacturing four Computing Containers which will then be shipped to Schleswig-Holstein in Germany to commence “Proof of Concept” trials on a government-approved 42 km test field Schlei for autonomous ships. This agreement marks an exciting new vertical for AMPD Technologies in the zero-emission, autonomous, maritime vessel market. The global autonomous ships market size was estimated to be worth USD $5.8 billion in 2020 and is projected to reach USD $14.2 billion by 2030, at a compound annual growth rate (CAGR) of 9.3% from 2020 to 2030.
The signing of the definitive agreement contemplated by the MOU is contingent upon the successful awarding of funds from the German Federal Ministry for Digital and Transportation, regarding a previously submitted funding grant to develop the Digital Port Schleswig-Holstein. The grant award is anticipated by the fourth quarter of 2022.
“UFB and AMPD share the vision of a sustainable, greener future,” commented Anthony Brown, CEO of AMPD Ventures. “Having the opportunity to architect and build the next generation of digital infrastructure for maritime traffic, that will support zero-emissions watercraft, is very exciting. Lars and his team in Germany have developed first-class expertise in autonomous vehicle technology and we are looking forward to building out this solution that will have global implications together.”
“We are very pleased to enter into a formal relationship with our Canadian partners, AMPD Technologies and their extremely impressive, high-performance computing capabilities,” said Lars Engelhard, Founder and CEO of Unleash Future Boats.
About Unleash Future Boats GmbH (UFB)
UFB is a pioneer in the field of autonomous and zero-emission transport systems for mobility and logistics on the water. UFB develops sustainable solutions through electric drive systems with fuel cells and green hydrogen. The company has previously introduced ZeroOne, the world's first fully autonomous ship with international registration and global insurance.
Clean and sustainable mobility for people will be provided by FutureOne, an on-demand ferry that offers significant shortcuts on both urban and rural waterways. The logistics of the future on the water will be redefined by CargoOne, a zero-emission truck on the water. UFB's complete ecosystem includes fully digital ports, joint ventures and mobility hubs that are rewriting the rulebook of maritime transportation.
About AMPD Ventures Inc.
AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as ‘the hosting company of the Metaverse.’ Through a mix of infrastructure as a service (“IaaS”) and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades. Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.
For further information please contact Investor Cubed Inc.:
Neil Simon, CEO
Telephone: (647) 258-3310
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anthony Brown”
CEO & Director
AMPD Ventures Inc.
Forward Looking Information
Certain statements in this news release may contain forward-looking information within the meaning of the Canadian securities laws. Often, but not always, 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 statements or information with respect to the Company's relationship with UFB, the expected receipt and timing of grant funds from the German government to fund the MOU, expectations for the size and growth of the global autonomous ships market, the benefits AMPD expects to realize from the MOU, and the Company’s intended expansion into the zero-emission, autonomous, maritime vessel market.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: uncertainties related to UFB and the MOU, including in regard to the receipt and timing of government funds for the MOU, the success of AMPD’s collaboration with UFB, the possibility that the autonomous maritime market will grow more slowly or will not grow as large as expected; and the possibility of competing superior technology; general business, economic, competitive, geopolitical, technological and social uncertainties; 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. Because of these risks and uncertainties, forward-looking information should not be unduly relied upon. The Company does not undertake to update this forward-looking information, except as required by law.