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MTI Wireless Edge - Contract Win

RNS Number : 7380E
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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Quick facts: MTI Wireless Edge Limited

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Market: AIM
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