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MTI Wireless to deploy tethered balloon system as part of US$1.4mln support services deal

The new contract, to be delivered by MTI's system engineering division, will see the balloon deployed over a period of 24 months

Antennas
The manager of MTI’s system engineering division, Menashe Mani, said going forward the company would “continue to focus on such projects"

MTI Wireless Edge Ltd (LON:MWE) has said it will deploy a tethered balloon system as part of a US$1.4mln deal for installation and integration support services.

The new contract for the AIM-listed antenna seller, which is to be delivered by its system engineering division, will see the balloon deployed over a period of 24 months.

READ: MTI Wireless jumps as it inks deal to develop military antennas

The manager of MTI’s system engineering division, Menashe Mani, said going forward the company would “continue to focus on such projects, their implementation and operation”.

"We are very happy with this contract win, it provides us with another opportunity to continue and serve our customers in this industry”.

Balloon antennas have previously been used by tech giants such as Google to help transmit internet to remote regions, with articifical intelligence used to move the balloons to where coverage is most needed.

Quick facts: MTI Wireless Edge Limited

Price: 33.32 GBX

AIM:MWE
Market: AIM
Market Cap: £29.28 m
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