REG - MTI Wireless Edge - Indian Contract Win Adds to Strong 5G Orderbook

MTI Wireless EdgeAnnouncement

24/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240924:nRSX3338Fa&default-theme=true

RNS Number : 3338F  MTI Wireless Edge Limited  24 September 2024

 

24 September 2024

 

 

MTI Wireless Edge Ltd

("MTI" or the "Group")

 

Indian Contract Win Adds to Strong Orderbook for 5G

 

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 it has received an initial order, worth
approximately US$0.7 million, for its 5G backhaul antenna solution for use by
one of India's leading cellular service providers.

The initial order will be delivered in the short term and the customer has
indicated that, if the initial order is delivered on schedule, further orders
will be forthcoming.  The Group estimates that these further orders will be
considerably larger multi-million US Dollar orders.

India is a substantial market for the Group's 5G antennas with 900 million
cellular phones currently in use across the country. The roll-out of 5G,
encouraged by the Indian Government and driven by the three leading cellular
service providers is progressing and having high-speed 5G backhaul solutions
in place is essential for transferring data from mobile towers to the core
network.

Commenting on the contract win, Moni Borovitz, MTI's CEO, said: "Last year we
extended our presence in India to accommodate further demand for our 5G
backhaul antenna solution.  This win vindicates that decision and, subject to
the timely fulfilment of the first stage, should grow to become the first
really significant 5G project for MTI in India.  It remains hard to predict
the timing of 5G projects, but the potential for significant orders in the
future is clear and MTI is ideally placed to continue to secure them."

For further information please contact:

 MTI Wireless Edge Ltd                                          +972 3 900 8900

 Moni Borovitz, CEO                                             http://www.mtiwirelessedge.com
                                                                (https://url.avanan.click/v2/___http:/www.mtiwirelessedge.com___.YXAxZTpzaG9yZWNhcDphOm86NmYwOTIzOWI5MmJkNTRjMmU5YmMzNTU3MTY4YTg0M2Q6NjozOGM0Ojk4MjU2ODJjZjFkYjFkNjJmMzg2MTVjZjIwZDFmNDZkNzJlNzZhOWUwMDY3ZTg4NWI2MmQ2NjkxMDVkYzk4ZDU6cDpUOk4)

 Allenby Capital Limited (Nomad and Joint Broker)               +44 20 3328 5656

 Nick Naylor/Alex Brearley/Piers Shimwell (Corporate Finance)

 Guy McDougall/Amrit Nahal (Sales and Corporate Broking)

 Shore Capital (Joint Broker)                                   +44 20 7408 4090

 Toby Gibbs/Rachel Goldstein (Corporate Advisory)

 Fiona Conroy (Corporate Broking)

 Novella (Financial PR)                                         +44 20 3151 7008

 Tim Robertson/Safia Colebrook

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  CNTFFFFFAEIVFIS