MyCelx Technologies Corporation MyCelx and Schlumberger Sign Upstream Agreement (1306C)
June 24 2016 - 2:00AM
UK Regulatory
TIDMMYX TIDMMYXR
RNS Number : 1306C
MyCelx Technologies Corporation
24 June 2016
MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)
("MYCELX" or the "Company")
MYCELX and Schlumberger Sign Upstream Agreement
HOUSTON, June 24, 2016-MYCELX Technologies Corporation (AIM:
MYX), the clean water technology company providing patented
solutions for commercial industrial markets worldwide, is pleased
to announce that it has entered into an exclusive marketing and
distribution agreement with Cameron, a Schlumberger company.
The agreement provides Schlumberger exclusive rights to
distribute MYCELX products in the upstream market. In particular,
both companies will work to expedite the industry adoption of
MYCELX's new RE-GEN product line as the water treatment method of
choice in the upstream oil and gas market. MYCELX will retain its
current business in the downstream market for all its products and
services.
MYCELX's Chief Executive Officer, Connie Mixon, commented:
"We are extremely pleased to be working with Schlumberger to
bring our products to their global upstream customer base. This
agreement is in line with our focus on establishing strategic
alliances to leverage sales and marketing channels globally. We
believe the RE-GEN product is a paradigm shift for upstream
producers in that it allows them to meet their produced water
treatment needs and provides meaningful cost savings."
About MYCELX
MYCELX is a leading water technology company with primary focus
in the oil and gas, power, and marine sectors. The patented
MYCELX(R) polymer owned and manufactured by MYCELX Technologies
uses novel molecular cohesion to reliably remove oil from water
consistently to less than 1 ppm (part per million) or to the
specific requirements of its upstream and downstream customers.
MYCELX's systems provide superior performance compared to
traditional equipment that results in significant operational cost
savings. MYCELX water management systems are operating successfully
across the globe with customers that include global integrated oil
and gas companies, leading petrochemical companies, engineering,
procurement and construction companies and global water treatment
companies. For more information, visit http://www.mycelx.com
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO Tel: +1 (770)
Kim Slayton, CFO 534-3118
investor.relations@mycelx.com
RFC Ambrian Limited Tel: +44 20 3440
Corporate Finance 6800
Jonathan Stephens
Corporate Broking
Jonathan Williams
Kim Eckhof
Numis Securities Limited Tel: +44 20 7260
Corporate Broking 1000
James Black
Ben Stoop
Bell Pottinger Tel: +44 20 3772
Nick Lambert 2500
Henry Lerwill
This information is provided by RNS
The company news service from the London Stock Exchange
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