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68.00 2.00 (2.99%)

Bid:

67.00

Ask:

69.00

Spread: 2.00 (2.985%)

Market Cap: £59.48m

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MTI Wireless Edge subsidiary secures two long-term contract wins

Wed, 19th Apr 2023 11:47

(Sharecast News) - Antennas developer MTI Wireless Edge has secured two long-term contract wins with a large Israeli municipality.

MTI Wireless Edge said on Wednesday that the contracts, secured via its Mottech Water Solutions subsidiary, were with an existing customer, which agreed to longer than previous contracts of five years.

The two contracts were worth $2.2m together over the contracted periods, with one covering installations and the other provision of services.

Chief executive 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.

As of 1145 BST, MTI Wireless shares were up 0.95% at 53.0p.

Reporting by Iain Gilbert at Sharecast.com