Micronet Receives New $3,100,000 Order From Leading ELD Compliance Telematics Provider

MONTVALE, N.J., Oct. 30, 2017 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (Nasdaq CM: MICT) announced today that its Mobile Resource Management (MRM) subsidiary Micronet Ltd., via its wholly owned subsidiary Micronet Inc., received a purchase order valued at approximately $3,100,000 for its recently released SmartHub-TREQr5 product. The SmartHub-TREQr5 is an innovative ruggedized telematics, Android on-board computer optimized for Internet of Things (IOT) and fleet management applications.

This order also includes a $100,000 renewable yearly license for Micronet's Guardian System Design (GSD), a cloud based Software-as-a-Service (SaaS) platform which enables remote management of Micronet's products while on the move via Firmware Over The Air (FOTA) updates, resulting in efficiency and significant savings in data plan costs. This is consistent with Micronet's strategy to combine additional SaaS features into its offerings.

"We are extremely pleased with the significant increase in orders for our new line of products. Micronet is working on expanding its offerings by adding services and developing applications, internally or via third party application providers and value-added resellers (VARs), in order to provide our customers with more comprehensive solutions," said David Markus, Chief Executive Officer of Micronet Ltd.

"We believe that $9,000,000 in total orders in just four months clearly indicates the market's growing demand for electronic logging device (ELD) products and, more importantly, Micronet's power to design and deliver MRM technologies that optimally serve customers' needs," said David Lucatz, Chief Executive Officer of Micronet Enertec Technologies. "We are pleased with the pace at which Micronet is closing on new sales and we look forward to shipping on this purchase order."

The SmartHub-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. SmartHub-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.

About Micronet Enertec Technologies, Inc.

Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) 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. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing a multi-billion-dollar defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities.  MICT's MRM division develops, manufactures and provides mobile computing platforms for the multibillion dollar mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction.

Forward-looking Statements

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws.  These forward-looking statements include, but are not limited to, those statements regarding when we discuss our belief that the total SmartHub /TREQr5 orders received to date serves as further validation that Micronet's MRM products are what customers are looking for in the robust and growing MRM market.  Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

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SOURCE Micronet Enertec Technologies, Inc.