REG - MyCelx Tech. Corp. MyCelx Tech. Cp-MYXR - Contract Award & PFAS Update

Mycelx TechnologiesAnnouncement

03/07/2023 14:45

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RNS Number : 7955E  MyCelx Technologies Corporation  03 July 2023

3 July 2023

 

MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)

 

Contract Award & PFAS Update

 

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water
and clean air technology company, is pleased to announce a contract award with
a new client in the Middle East.

 

The client required an efficient, reliable system that could treat complex
wastewater. MYCELX was selected specifically for its capability to treat the
toughest water challenges successfully and cost-effectively and for its
longstanding reputation in the region. The Company expects ca.$1 million in
revenue in 2023 which underpins the current forecast for 2023.

 

The Company continues to move forward with its PFAS pilot trials in several
different applications. In July, a landfill leachate trial will commence and
operate for up to two months utilizing MYCELX's proprietary P-Fluormer™
media technology. A drinking water trial will begin later in July testing
P-Fluormer™ media to demonstrate compliance with the latest proposed EPA
National Primary Drinking Water Regulation standards ("NPDWR") for PFOA and
PFOS, along with four additional PFAS components. The next trial will be a
landfill leachate application and will operate for up to six weeks, and will
utilize multiple proprietary technologies from MYCELX, including REGEN, PFAS
cartridges and P-Fluormer™ media. These trials will result in important data
for numerous PFAS applications, which will accelerate adoption of our unique
and cost-effective solution. We continue to focus on teaming and trialling
with strategic partners in our key markets as well as effective marketing
through webinars, conferences, social media and an upgraded website, which
will be rolled out in the coming months.

 

Connie Mixon, CEO, commented:

 

"We are thrilled to be expanding our customer base and application offering in
Saudi Arabia. Our patented technology together with our extensive local
experience have ensured MYCELX is recognised by waste management companies as
a leading technology solution provider for industrial water treatment.

 

In the burgeoning PFAS market, we continue to get traction with targeted
strategic partners and direct customers as we pilot our technology in a series
of trials. Specific data collection in different PFAS applications is key to
accelerating our solution in this large and lucrative market."

 

 

For further information, please contact:

 

 MYCELX Technologies Corporation

 Connie Mixon, CEO                                  Tel: +1 888 306 6843

 Kim Slayton, CFO

 Canaccord Genuity Limited (Nomad and Sole Broker)

 Henry Fitzgerald-O'Connor                          Tel: +44 20 7523 8000

 Gordon Hamilton

 Celicourt Communications (Financial PR)

 Mark Antelme                                       Tel: +44 20 7770 6424

 Jimmy Lea

 

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