MyCelx Technologies Corporation New Project Awards and Operations Update (4589X)
30 August 2022 - 4:01PM
UK Regulatory
TIDMMYX TIDMMYXR
RNS Number : 4589X
MyCelx Technologies Corporation
30 August 2022
30 August 2022
MYCELX Technologies Corporation
New Project Awards and Operations Update
MYCELX Technologies Corporation ("MYCELX" or the "Company"), the
clean water and clean air technology company, is pleased to provide
an update on recent operational momentum, including the award of
new contracts in the Middle East.
MYCELX has secured a new purchase order from SABIC
Agri-Nutrients, a SABIC affiliate, to provide clean water for
optimal performance in their fertiliser production process. This
installation is the fourth project with this customer and
demonstrates MYCELX's status as vendor of choice for the toughest
water treatment. The Company has also expanded its footprint in
Saudi Arabia with the award of a short-term emergency response
project with a leading independent petrochemical company. The
Company expects that this initial project will develop into a
longer-term partnership thereby helping to meet its goal of client
diversification. In addition to this exciting work, MYCELX
announces the renewal of two water treatment contracts with
long-standing customers in the region and the establishment of a
Master Framework Agreement with SABIC for Wastewater Treatment.
This is a testament to the quality of the work and benefits MYCELX
brings, the relationship the Company has with its customers and the
excellence of its technology. These projects underpin the 2022
revenue forecast and the Company remains on track to meet current
guidance.
MYCELX confirms the successful, ongoing trial of its unique
REGEN product for use in Enhanced Oil Recovery with a major
producer in the Middle East. The Company is also in advanced
negotiations with another major producer for a REGEN retrofit of
their existing equipment to benefit from MYCELX's superior removal
efficiency, cost savings and the potential to increase flow rate by
up to 30%. Beyond the Middle East, the Company is pleased to
announce that a further REGEN system has now been installed and
commissioned in Nigeria.
As part of MYCELX's strategy to expedite its access to the
significant PFAS remediation market, the Company is pleased to
confirm that it is currently in discussions with several global
water treatment companies, an environmental engineering firm and
companies focused on treatment for the residential market. Through
these channels, the Company expects to run further PFAS trials in
the USA. These will build upon the successful recent trial, through
the Company's Australian distribution partner, at a landfill
leachate installation where MYCELX PFAS technology was proven to
remove contaminants down to non-detectable levels cost effectively.
This broader capability in PFAS removal places MYCELX in a strong
position as a cost-effective solution, as the enormity of the PFAS
global problem is exposed and the need for complete removal gains
public attention. We look forward to updating shareholders with
further developments in the coming months.
Connie Mixon, CEO of MYCELX, said:
"I am pleased to provide an update in the Middle East, where our
team continues to secure our position as the 'supplier of choice'
for clean water solutions. In particular, REGEN is proving its
performance and sustainability credentials through the successful
ongoing trial in the sizeable enhanced oil recovery market. We look
forward to providing more updates, including with regards to our
critical PFAS remediation solution."
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO Tel: +1 888 306 6843
Kim Slayton, CFO
Canaccord Genuity, Nominated Adviser
Henry Fitzgerald-O'Connor Tel: + 44 20 7523 8000
Gordon Hamilton
Celicourt
Mark Antelme Tel: +44 20 8434 2754
Jimmy Lea
The relevant notifications set out below are provided in
accordance with the requirements of Article 19 of the EU Market
Abuse Regulation (No. 596/2014).
Notes to Editors
Through its revolutionary water technology, MYCELX brings its
customers material benefits in terms of performance enhancement,
cost savings and significantly improved environmental footprints.
MYCELX supports leading international customers in the Oil &
Gas industry, as well as the PFAS remediation market. MYCELX also
provides advanced air filtration technology for manufacturing and
industrial facilities, effectively removing oil particles and
biologicals to maintain continuous and safe air quality levels.
For more information, visit www.MYCELX.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STREANPNASFAEEA
(END) Dow Jones Newswires
August 30, 2022 02:01 ET (06:01 GMT)
Mycelx Technologies (LSE:MYX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mycelx Technologies (LSE:MYX)
Historical Stock Chart
From Jul 2023 to Jul 2024