Actelis Networks Inc (NASDAQ:ASNS) shares are sharply higher in early Wednesday trading, extending a rally after the company announced a new contract with the California Department of Transportation (Caltrans). Here’s what investors need to know.
Actelis Wins Caltrans Order For Highway Modernization Project
Actelis on Monday said it received an order to supply its MetaLight hybrid fiber-copper networking gear for a Caltrans highway modernization project in San Mateo County. The work is part of an approximately $120 million initiative and is tied to traffic signal and monitoring systems, with Actelis supporting the project's communications infrastructure.
MetaLight is designed to deliver "fiber-grade" Ethernet connectivity over existing copper lines, aiming to speed deployments and reduce disruption by avoiding new fiber trenching; the company says devices can be installed in minutes to connect traffic management centers with field assets such as signals, cameras and monitoring stations.
The Caltrans win adds to a run of government transportation agency orders, including deals in Orange and Ventura counties and follow-on work with Washington, D.C.'s Department of Transportation, Actelis said. The company cited research estimating North American smart transportation demand could approach $90 billion in 2026.
ASNS Stock Explodes Wednesday Morning
ASNS Price Action: Actelis Networks shares were up 244.42% at 65 cents at the time of publication on Wednesday, according to Benzinga Pro data.
Image: Shutterstock
