MTI Wireless Edge Limited Contract Win (8238F)

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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                                              [phone] 
  Moni Borovitz, CEO                                 http://www.mtiwirelessedge.com 
 Allenby Capital Limited (Nomad and Joint 
  Broker) 
  Nick Naylor/Alex Brearley/Piers Shimwell 
  (Corporate Finance) 
  Amrit Nahal/David Johnson (Sales and 
  Corporate Broking)                                               [phone] 
 
   Shore Capital (Joint Broker) 
   Toby Gibbs/John More/James O'Neill (Corporate 
   Advisory) 
   Fiona Conroy (Corporate Broking)                                [phone] 
 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 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.

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March 24, 2022 03:00 ET (07:00 GMT)