Indian Contract Win Adds to Strong 5G Orderbook

MTI Wireless Edge Limited

24 September 2024

 

24 September 2024

MTI Wireless Edge Ltd

("MTI" or the "Group")

Indian Contract Win Adds to Strong Orderbook for 5G

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 received an initial order, worth approximately US$0.7 million, for its 5G backhaul antenna solution for use by one of India's leading cellular service providers. 

The initial order will be delivered in the short term and the customer has indicated that, if the initial order is delivered on schedule, further orders will be forthcoming.  The Group estimates that these further orders will be considerably larger multi-million US Dollar orders.

India is a substantial market for the Group's 5G antennas with 900 million cellular phones currently in use across the country. The roll-out of 5G, encouraged by the Indian Government and driven by the three leading cellular service providers is progressing and having high-speed 5G backhaul solutions in place is essential for transferring data from mobile towers to the core network.

Commenting on the contract win, Moni Borovitz, MTI's CEO, said: "Last year we extended our presence in India to accommodate further demand for our 5G backhaul antenna solution.  This win vindicates that decision and, subject to the timely fulfilment of the first stage, should grow to become the first really significant 5G project for MTI in India.  It remains hard to predict the timing of 5G projects, but the potential for significant orders in the future is clear and MTI is ideally placed to continue to secure them."

For further information please contact:

MTI Wireless Edge Ltd Moni Borovitz, CEO	[phone] http://www.mtiwirelessedge.com
Allenby Capital Limited (Nomad and Joint Broker) Nick Naylor/Alex Brearley/Piers Shimwell (Corporate Finance) Guy McDougall/Amrit Nahal (Sales and Corporate Broking)	[phone]
Shore Capital (Joint Broker) Toby Gibbs/Rachel Goldstein (Corporate Advisory) Fiona Conroy (Corporate Broking)	[phone]
Novella (Financial PR) Tim Robertson/Safia Colebrook	[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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