MyCelx Technologies Corporation Contract Extension in Saudi Arabia (9265V)
July 27 2018 - 2:00AM
UK Regulatory
TIDMMYX TIDMTTM
RNS Number : 9265V
MyCelx Technologies Corporation
27 July 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU No. 596/2014) ("MAR"). This inside
information is now considered to be in the public domain.
27 July 2018
MYCELX TECHNOLOGIES CORPORATION
("MYCELX" or the "Company")
Contract Extension in Saudi Arabia
MYCELX Technologies Corporation (AIM: MYX), the clean water
technology company providing patented solutions for the Oil and Gas
market and commercial industrial markets worldwide, is pleased to
announce that it has secured a further contract extension for its
successful Waste Water Solution at a SABIC affiliate.
As a result of this extension and the higher than expected
revenue generated by its other Saudi Arabian installations, the
Company has increased its revenue forecast for 2018 to
$19-$20m.
The Company continues to pursue additional advanced
opportunities and will update the market as these further expand
its installation base in Saudi Arabia.
Commenting on the market update, Connie Mixon, CEO said:
"The extension of one of our Waste Water Solutions is testament
to its reliably superior performance. Since the start of the year,
MYCELX has successfully treated almost 10 million cubic metres of
challenging waste water in Saudi Arabia and ensured that it
consistently met Royal Commission Environmental Regulatory
standards. We are delighted to be able to improve our revenue
forecast for the year to $19-$20m, and continue to seek to secure
further opportunities this year in Saudi Arabia, North America and
Europe."
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO Tel: +1 888 306 6843
Kim Slayton, CFO
Cantor Fitzgerald Europe - NOMAD and Broker
David Porter Tel: +44 20 7894 7000
Richard Salmond
Celicourt Communications
Mark Antelme Tel: +44 20 7520 9266
Jimmy Lea
Notes to Editors
MYCELX is a revolutionary oil-free water technology company
solving the world's toughest oil removal problems in the oil and
gas industry. The systems are based upon scientific breakthrough
for a completely different approach to permanent oil removal. The
Company created the patented MYCELX polymer using innovative
molecular cohesion for removing oil from water far beyond what
conventional systems have ever achieved. MYCELX systems remove oil
to critically low levels in a much smaller physical footprint than
conventional systems and in a virtually fail-safe process.
www.mycelx.com
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END
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