Micronet Receives $4.3-Million Order: Largest Since 2012

On Aug 4, 2017

Montvale-based Micronet Enertec Technologies, Inc. announces that its Mobile Resource Management (MRM) subsidiary Micronet Ltd., via its wholly owned subsidiary Micronet Inc., received purchase orders valued at approximately $4.3 million for its recently released TREQr5 product. The orders were received from a current strategic customer, a leading fleet management solutions provider. This order is the largest order received by Micronet since 2012 and brings the company’s backlog to $13.5 million, a record amount.

“The magnitude of these orders, and the fact that they come from one current customer, serve as further validation that Micronet’s next-generation MRM products are what customers are looking for in this robust and growing market. As the deadline for the Electronic Logging Devices (ELD) government mandate nears, Micronet expects more orders for these products. As Micronet’s competitive products continue to prove their value to its customers, we plan to focus on greater market share and building long term revenue growth in the MRM space,” said David Lucatz, Chief Executive Officer of Micronet Enertec Technologies, Inc.

TREQr5 is an innovative ruggedized telematics Android on-board computer optimized for Internet of Things (IOT) and fleet management applications. The Company expects to fulfill these orders during the following quarters.

The TREQr5 provides a comprehensive suite of fleet management products, which are key assets that help its customers focus on driver safety, efficiency and compliance, ELD and Hours of Service (HOS), driver coaching and fuel reports for local fleets and heavy duty trucks and equipment. TREQr5 improves efficiencies and safety for trucking and other fleet management operations, while also bringing truckers into compliance with the federal ELD mandate set for enforcement by the end of 2017.

Micronet Enertec Technologies, Inc. provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial Mobile Resource Management (MRM) market.

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