MTI Wireless Edge Limited US$1.5 million Contract Win (5313D)

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RNS Number : 5313D

MTI Wireless Edge Limited

29 October 2020

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

29 October 2020

MTI Wireless Edge Ltd ("MTI" or the "Group")

US$1.5 million 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 the St Petersburg office of MTI Summit has secured a significant order for delivery in 2021 from a Russian customer. The contract is worth approximately US$1.5 million and is a repeat order for the supply of radio frequency components.

Operating under the Group's Distribution & Professional Consulting Services Division, MTI Summit represents 40 international suppliers of radio frequency and microwave components and sells these products to customers. Expert knowledge of both the international suppliers and customers further enables MTI Summit to act as a consultant to all parties and assist with devising radio frequency and microwave solutions, as was the case with this contract win.

MTI's CEO, Moni Borovitz, commented: "We are very pleased to have received this significant follow-on order through our St Petersburg office. While still a relatively new market, our reputation in Russia for being a reliable partner and consultant to major corporations is growing. This is reflected in the increase in revenues from this office and the size of orders being received."

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 (Corporate Finance)

Guy McDougall (Equity Sales)

Peterhouse Capital Limited (Joint Broker) [phone]

Lucy Williams

Eran Zucker

Novella (Financial PR)

[phone]

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 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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October 29, 2020 03:00 ET (07:00 GMT)