Benzinga | Jun 22, 2021 08:38AM EDT

Ondas Wins First Purchase Order From Major European Rail Customer

* Ondas Holdings Inc's (NASDAQ:ONDS) subsidiary, Ondas Networks Inc, bagged its first purchase order from a major European rail customer for its FullMAX MC-IoT private wireless network technology.

* The financial terms of the order remain undisclosed.

* Ondas' success in the North American Rail markets with the Class 1 Railroads enabled new adoption outside of North America, Ondas Holdings CEO Eric Brock said. Rail operators in Europe faced many of the same challenges as Ondas' Class 1 rail customers.

* Price action: ONDS shares traded higher by 6.49% at $8.20 in the premarket session on the last check Tuesday.