Mti Wireless Share News (MWE)

(Alliance News) - MTI Wireless Edge Ltd on Wednesday said it secured two long-term contracts with a large Israeli municipality via its subsidiary Mottech Water Solutions Ltd.

MTI provides communication and radio frequency technology. It is based in Rosh-Ha'Ayin, Israel, near Tel Aviv.

The municipality, which MTI didn't name, is an existing customer, and the new contracts are longer than the previous contracts of five years. MTI said one of the contracts is annual but is budgeted for five years and has an option to extend to five years.

The two contracts are together worth around USD2.2 million over the contracted periods. One contract covers installations, while the other covers provision of services.

MTI Wireless Edge said the municipality has responsibility for "extensive gardens and parkland" covering approximately 300 hectares.

Mottech has been working with the municipality for over 20 years, it said, providing "high-end remote control and monitoring solutions" for water and irrigation applications based on Motorola Solutions Inc's IRRInet "state-of-the-art control, monitoring and communication technologies".

MTI Wireless Edge Chief Executive Officer Moni Borovitz said: "We are very happy to secure these long-term contracts with the municipality, reflecting the trust they have in Mottech and its technology to deliver consistent and significant savings both financially and in terms of water usage, through accurate irrigation using remote supervision."

Shares in MTI Wireless Edge were up 2.8% at 53.98 pence each in London on Wednesday morning.

By Greg Rosenvinge, Alliance News reporter

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