Contract Win

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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 Mottech Water Solutions Ltd ("Mottech"), its Water Control & Management division, has successfully retained a key service contract with a local municipality in Israel. Under the contract, Mottech will continue to be responsible for the efficient and cost-effective irrigation of the green land within the municipality. The contract is for a basic term of two years with the potential for extension for up to a further five years, at US$200,000 per annum, in total worth up to US$1.4 million. As the contract is for an existing long-term client, MTI considers it likely that the Company will complete the full seven-year term.

Commenting on the win, Moni Borovitz, CEO, said: "We are very pleased to have successfully renewed this local contract, which demonstrates the long-term nature of Mottech's business. As with similar recent contracts for Israeli municipalities, Mottech has been able to agree an increased fee level for our services which reflects the strength and reliability of our services together with our ability to significantly reduce water usage and associated costs, whilst maintaining optimum irrigation levels."