MTI Wireless Edge Limited Contract Win (3957U)

TIDMMWE

RNS Number : 3957U

MTI Wireless Edge Limited

29 March 2019

29 March 2019

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 it has secured a new contract, worth approximately US $1 million, for the development and manufacturing of military antennas. This order is from an existing customer for antennas developed serval years ago which are being customized for a new project.

MTI's CEO, Moni Borovitz, commented: "We are delighted with this additional contract win, which demonstrates this customer's satisfaction with our products, technology and service. We continue to see expansion and growth opportunities in all sectors of the antenna industry, particularly in the 80 GHz spectrum as mobile operators start to plan their implantation of 5G".

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

Peterhouse Corporate Finance Limited (Joint Broker) [phone]

Lucy Williams

Eran Zucker

About MTI Wireless Edge ("MTI" or the "Company")

Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through four 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 Wireless Edge 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.

Aerostat Operation Division

Via its system engineering division, the Group offers the design and integration of aerostat operation systems, along with the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems.

Water Control & Management Division

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), the Group 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.

RF and Microwave Representative and Consultation Division

Via its subsidiary, MTI Summit Electronics Ltd., the group offers representative and expert consultation services specializing in RF and Microwave solutions and applications. It provides its services to international electronics suppliers operating in Israel, Eastern Europe, and Russia.

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March 29, 2019 03:00 ET (07:00 GMT)