TIDMMWE
MTI Wireless Edge Limited
17 January 2024
17 January 2024
Reach non-regulatory announcement*
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 Mottech Water
Solutions Ltd ("Mottech"), its Water Control & Management
division, has successfully retained a key service contract with a
local municipality in Israel. Under the contract, Mottech will
continue to be responsible for the efficient and cost-effective
irrigation of the green land within the municipality. The contract
is for a basic term of two years with the potential for extension
for up to a further five years, at US$200,000 per annum, in total
worth up to US$1.4 million. As the contract is for an existing
long-term client, MTI considers it likely that the Company will
complete the full seven-year term.
Commenting on the win, Moni Borovitz, CEO, said: "We are very
pleased to have successfully renewed this local contract, which
demonstrates the long-term nature of Mottech's business. As with
similar recent contracts for Israeli municipalities, Mottech has
been able to agree an increased fee level for our services which
reflects the strength and reliability of our services together with
our ability to significantly reduce water usage and associated
costs, whilst maintaining optimum irrigation levels."
For further information please contact:
MTI Wireless Edge Ltd
+972 3 900 8900
Moni Borovitz, CEO http://www.mtiwirelessedge.com
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
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 internationally recognized as a producer of commercial
off-the-Shelf and custom-developed antenna solutions in a broad
frequency range of HF to 170 GHz for commercial, RFID and military
applications. MTI continuously invests in ground breaking
technologies, explores new frequencies, and devises innovative
solutions which empower our wireless communication customers with
cutting-edge off-the-shelf and custom-made antennas.
We are at the forefront of technology and innovation, being the
first to introduce Dual Band parabolic antennas, E Band Automatic
Beam Steering antennas, E Band FCC compliant flat antennas, and
more.
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.
*About Reach announcements
This is a Reach announcement. Reach is an investor communication
service aimed at assisting listed and unlisted (including AIM
quoted) companies to distribute media only / non-regulatory news
releases into the public domain. Information required to be
notified under the AIM Rules for Companies, Market Abuse Regulation
or other regulation would be disseminated as an RNS regulatory
announcement and not on Reach.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit 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.
END
NRAEANFKFSLLEFA
(END) Dow Jones Newswires
January 17, 2024 02:00 ET (07:00 GMT)
Mti Wireless Edge (LSE:MWE)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Mti Wireless Edge (LSE:MWE)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
