09:06 AM EDT, 08/20/2024 (MT Newswires) -- AmpliTech Group ( AMPG ) said Tuesday it signed a Memorandum of Understanding with a US-based IP Data Networking company to deploy a Private 5G Network in California.

AMPG shares were up past 7% premarket Tuesday.

Under the contract, AmpliTech ( AMPG ) would also provide network planning and optimization services.

The company said the domestic Private 5G Network deployment is expected to commence within the current fiscal year and could be valued at more than $1 million.

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