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MTI Wireless Edge Limited
10 November 2020
10 November 2020
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 it has secured an
order from a new Northern European customer, worth up to US$0.65
million, for the development and manufacturing of military
antennas. The first stage of the agreement, which is underway and
is worth US$0.3 million, will provide the customer with prototype
units expected to be completed within 12 months. The second stage
is subject to the customer deciding to order the antennas to be
manufactured and is expected to be worth up to US$0.35 million,
depending on the size of the order.
Whilst most of the Company's antenna division activities are
based on business applications such as 5G backhaul antennas and
RFID, it also supplies a wide range of broadband, tactical and
specialized communications antennas installed on ground, airborne
and naval platforms, including submarines. As well as being a
reliable income stream, the military is an important sector for the
division because it is continually innovating and upgrading its
systems enabling MTI to reapply the technologies developed into the
commercial market.
MTI's CEO, Moni Borovitz, commented: "We are delighted with this
contract win as it not only demonstrates our ability to continue to
secure new customers during this extraordinary COVID-19 period but
also reflects well on our reputation in the military antenna
market. This is a good first contract to have secured especially as
the client has the potential to be a larger customer for MTI. We
are therefore looking forward to getting started and building a
long-term relationship."
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 (Corporate Finance)
Guy McDougall (Equity Sales)
Peterhouse Capital Limited (Joint Broker) +44 20 7469 0930
Lucy Williams
Eran Zucker
Novella (Financial PR) +44 20 3151 7008
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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