Contract Win

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                                                                                                   [phone]

Moni Borovitz, CEO                                                                         http://www.mtiwirelessedge.com

Allenby Capital Limited (Nomad and Joint Broker)                                            ​   [phone]

Nick Naylor/Alex Brearley/Piers Shimwell (Corporate Finance)

Guy McDougall/Amrit Nahal (Sales and Corporate Broking)

Shore Capital (Joint Broker)                                                                                        [phone]

Toby Gibbs/Rachel Goldstein

Novella (Financial PR)                                                                                                   [phone]

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.

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