REG - MTI Wireless Edge - Contract Win

MTI Wireless EdgeAnnouncement

24/03/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220324:nRSX8238Fa&default-theme=true

RNS Number : 8238F  MTI Wireless Edge Limited  24 March 2022

 

24 March 2022

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 its subsidiary Mottech Water Solutions
Ltd ("Mottech") has won a new contract totaling approximately US$0.5 million
to monitor and partially control over 30 fountains on behalf of one of
Israel's largest cities.

Mottech already provides irrigation services in this City and management of
the water fountains is therefore an expansion of the services being offered to
this customer. Under the contract, which is expected to be completed in 2022,
the fountains which are currently operated individually will move to being
monitored and partially controlled under one system. Following which,
Mottech's services are expected to increase under an additional service
agreement to provide ongoing support.

Management of water fountains represents a new commercial application for
Mottech's services, which has the potential to be rolled out in a number of
cities.

MTI's CEO, Moni Borovitz, commented: "We are very pleased with this new
contract from one of our key customers in Israel. It both expands the solution
offering that we provide to them and demonstrates their confidence in our
capabilities. As importantly, we believe that this could be the start for
another niche, but valuable solution that we can roll out to Mottech's wider
customer base."

 

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)

 Shore Capital (Joint Broker)                                   +44 20 7408 4090

 Toby Gibbs/John More/James O'Neill (Corporate Advisory)

 Fiona Conroy (Corporate Broking)

 Novella (Financial PR)                                         +44 20 3151 7008

 Tim Robertson/Fergus Young

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 174 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 5G backhaul, Broadband access,
public safety, RFID, base station 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 and monitoring 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, increase crops
quality and yield while reducing operational and maintenance costs providing
fast ROI while helping sustain the environment. 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. It also specializes in
the development, manufacture and integration of communication systems and
advanced monitoring and control systems for the Government and defence
industry market.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTEAPDDAEAAEFA