Mti Wireless Share News (MWE)

(Sharecast News) - Technology group MTI Wireless Edge has secured a new contract valued at approximately $500,000 with to monitor and partially control over 30 fountains on behalf of one of Israel's largest cities.

MTI Wireless said on Thursday that its Mottech Water Solutions subsidiary, which already provides irrigation services in the unnamed city, had won the contract expansions, which was expected to be completed in 2022

The AIM-listed firm stated the fountains, currently operated individually, will move to being monitored and partially controlled under one system. Following which, Mottech's services were expected to increase under an additional service agreement to provide ongoing support.

Chief executive Moni Borovitz said: "We are very pleased with this new contract from one of our key customers in Israel. It both expands the solution offering that we provide to them and demonstrates their confidence in our capabilities. As importantly, we believe that this could be the start for another niche, but valuable solution that we can roll out to Mottech's wider customer base."

As of 1000 GMT, MTI Wireless shares were down 1.56% at 63.0p.