REG - MTI Wireless Edge - Contract Win

MTI Wireless EdgeAnnouncement

21/12/2021 07:00

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RNS Number : 2580W  MTI Wireless Edge Limited  21 December 2021

Dissemination of a Regulatory Announcement that contains inside information
for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.

 

21 December 2021

MTI Wireless Edge Ltd

("MTI" or the "Group")

 

Contract Win

 

MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on
comprehensive communication and radio frequency solutions across multiple
sectors, is pleased to announce that the St. Petersburg office of MTI Summit
has secured its largest order to date, totaling US$3.1 million. The order will
be delivered over an 18 month period commencing in the second half of 2022.

MTI's CEO, Moni Borovitz, commented: "This is an excellent contract win to
complete the year, providing our St. Petersburg office with great visibility
on revenue for the next two years and in addition, it will support our ability
to invest in growing this business further."

 

For further information please contact:

 

 MTI Wireless Edge Ltd                                         +972 3 900 8900
 Moni Borovitz, CEO                                            http://www.mtiwirelessedge.com (http://www.mtiwirelessedge.com)

 Allenby Capital Limited (Nomad and Joint Broker)              +44 20 3328 5656
 Nick Naylor/Alex Brearley/Piers Shimwell (Corporate Finance)
 Amrit Nahal/David Johnson (Sales and Corporate Broking)

 Peterhouse Capital Limited (Joint Broker)                     +44 20 7469 0930
 Lucy Williams/ Eran Zucker

 Novella (Financial PR)
 Tim Robertson/Fergus Young                                    +44 20 3151 7008

 

About MTI Wireless Edge Ltd. ("MTI")

 

Headquartered in Israel, MTI is a technology group focused on comprehensive
communication and radio frequency solutions across multiple sectors through
three core divisions:

Antenna Division

MTI is a world leader in the design, development and production of high
quality, state-of-the-art, and cost-effective antenna solutions including
Smart Antennas, MIMO Antennas and Dual Polarity Antennas for wireless
applications. MTI supplies antennas for both military and commercial markets
from 100 KHz to 90 GHz.

Internationally recognized as a producer of commercial off-the-Shelf and
custom-developed antenna solutions in a broad frequency range, MTI addresses
both commercial and military applications.

MTI supplies directional and omnidirectional antennas for outdoor and indoor
deployments, including smart antennas for WiMAX, Broadband access, public
safety, RFID, base stations and terminals for the utility market.

Military applications include a wide range of broadband, tactical and
specialized communication antennas, antenna systems and DF arrays installed on
numerous airborne, ground and naval, including submarine, platforms
worldwide.

Water Control & Management Division

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI provides
high-end remote control solutions for water and irrigation applications based
on Motorola's IRRInet state-of-the-art control, monitoring and communication
technologies.

As Motorola's global prime-distributor Mottech serves its customers worldwide
through its international subsidiaries and a global network of local
distributors and representatives. With over 25 years of experience in
providing customers with irrigation remote control and management, Mottech's
solutions ensure constant, reliable and accurate water usage, while reducing
operational and maintenance costs. Mottech's activities are focused in the
market segments of agriculture, water distribution, municipal and commercial
landscape as well as wastewater and storm-water reuse.

Distribution & Professional Consulting Services Division

Via its subsidiary, MTI Summit Electronics Ltd., MTI offers consulting,
representation and marketing services to foreign companies in the field of RF
and Microwave solutions and applications including engineering services
(including design and integration) in the field of aerostat systems and the
ongoing operation of Platform subsystems, SIGINT, RADAR, communication and
observation systems which is performed by the Company.

 

 

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