MTI Wireless Edge Limited 5G Contract Wins (9938Q)

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RNS Number : 9938Q

MTI Wireless Edge Limited

02 November 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.

2 November 2021

MTI Wireless Edge Ltd

("MTI" or the "Group")

5G Contract Wins

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 antenna division has received blanket orders for 5G backhaul antenna from two key customers. The combined orders are worth approximately USD $0.85 million and are to be supplied in 2022.

MTI's CEO, Moni Borovitz, commented : "These significant new orders demonstrate the strength of our 5G backhaul solution and our customers' satisfaction with it. The orders are expected to be supplied before the end of 2022 and will be part of our expected uplift in 5G sales next year."

For further information please contact:

 
 MTI Wireless Edge Ltd                             [phone] 
 Moni Borovitz, CEO                                http://www.mtiwirelessedge.com 
 
 Allenby Capital Limited (Nomad and Joint 
  Broker)                                          [phone] 
 Nick Naylor/Alex Brearley/Piers Shimwell 
  (Corporate Finance) 
 Amrit Nahal/David Johnson (Sales and Corporate 
  Broking) 
 
 Peterhouse Capital Limited (Joint Broker)         [phone] 
 Lucy Williams/ Eran Zucker 
 
 Novella (Financial PR) 
 Tim Robertson/Fergus Young                        [phone] 
 

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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November 02, 2021 03:00 ET (07:00 GMT)