Company Advancing Towards Production of Optical Fiber Preforms
Las Vegas, NV (GLOBE NEWSWIRE) - Ameritek Ventures (OTC: ATVK) (“the Company”), today announced that it expects the global supply of optical fiber preforms to remain insufficient to meet industry demand through 2018. Given its outlook for sustained demand growth trends for the global technology and telecommunications industries, Ameritek recently initiated pre-production activities that it expects will enable preform production in its Roanoke, Virginia facility in early 2019.
According to Reportlinker, global market demand for optical fiber in 2016 was in excess of 400 million kilometers (km). Over the next five years, global market demand is projected to surpass 700 million km/year by 2021. This level of expected growth is attributable to multiple segments of the global technology and telecommunications markets which utilize optical fiber as a network backbone, including mobile phone network’s implementation of 5G technologies, 4K television, higher internet bandwidths and fiber to the home installation.
“To help address the supply/demand imbalance in the global data marketplace, Ameritek plans to initiate commercial operations with capacity of 5 million km/year, escalating to 20 million km/year by the end of 2021,” stated Clinton Stokes III, Ameritek’s Chief Executive Officer. “We expect Ameritek’s targeted production capacity to provide a new source of preform supply to help ease this sustained imbalance occurring across the industry.”
As an ever-growing list of devices are connected to the internet, creating an “Internet of Things (IOT)” that includes cell phones, alarm systems, thermostats, gaming systems, televisions, appliances and home automation systems, network bandwidth requirements have increased at a dramatic rate in recent years. In order to meet end-user demand, networks must increase their bandwidth in order to be able to distribute that data.
Wesley Poff, Ameritek’s Head of Technology, added, “The fiber industry is benefitting from the unprecedented growth of customer demand for data and the networks that carry that data. Optical fiber continues to be the preferred medium for the data highway. The implementation of 5G, higher internet speeds and bandwidth demand for home applications are consuming fiber at record rates, which we expect to continue for the foreseeable future.”
About Ameritek Ventures
Ameritek Ventures is a manufacturer of proprietary machinery that is used to produce optical fiber preforms. These preforms are then used to produce commercial grade optical fiber. Once produced, this optical fiber is fabricated into fiber optic cable which serves as the backbone of the multi-billion-dollar telecommunication industry.
The market demand for preforms and optical fiber has experienced rapid growth in the wireless, cable television, internet and high-speed data transmission industries. The Company's equipment, processes and managed system deployments will provide the market with the highest quality preforms used to manufacture fiber optic cable and will support significant growth worldwide.
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements.
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SOURCE: Ameritek Ventures, Inc.