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

Mycelx TechnologiesAnnouncement

06/05/2025 07:00

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RNS Number : 3470H  MyCelx Technologies Corporation  06 May 2025

 

The information contained within this Announcement is deemed by MYCELX
Technologies Corporation to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").

 

6 May 2025

 

MYCELX Technologies Corporation

("MYCELX" or the "Company")

 

PFAS Contract Award

 

MYCELX Technologies Corporation (AIM: MYX), the clean water and clean air
technology company, is pleased to announce the award of a short-term rental
contract for a mobile PFAS treatment system to treat groundwater contamination
at a site in North Dakota for the U.S. Department of Defense (DoD).

 

The original contract for PFAS treatment is for three months, but we believe
volumes will increase so we are anticipating the rental potentially extending
beyond the original term. As part of the project, MYCELX is conducting
in-house treatability analysis to assess groundwater characteristics and
predict system performance, enabling the Company to optimize PFAS removal
efficiency on site. The ability to perform in-house treatability analyses
accelerates sales timelines by giving MYCELX control over the testing process
ultimately decreasing the amount of time to determine system design.

 

The contract is included in the Company's revenue forecasts for the 2025
financial year. It reflects the continued validation of MYCELX's innovative
solutions by major clients with numerous sites, such as the DoD, who has
assessed 718 sites to date and moved more than 50% to the next investigative
phase which will require effective solutions such as MYCELX for long-term
cleanups. According to the U.S. Government Accountability Office, remediation
costs will continue to increase as the DoD learns more about the extent of
PFAS releases. This is a decades long cleanup and working with the DoD now
gives the Company more reference projects that can be promoted within the DoD
as well as with other similar application projects.

 

Connie Mixon, CEO, commented:

 

"Working with the Department of Defense on this PFAS remediation project as a
very positive step forward for MYCELX. We have focused significant time and
resources on developing our offering in the PFAS remediation market and being
selected for contracts with the DoD demonstrates that our systems are cost
effective, high performing, and reliable. We will shortly be involved in two
highly anticipated PFAS trials, which, if successful, have the potential to
convert into further commercial sales contracts in due course. As a team, we
are very excited about the U.S.EPA's recent notification of plans to support
PFAS remediation in the U.S., which we believe will create urgency and
confidence for decision makers to move on clean up timelines. We look forward
to keeping all of our stakeholders updated on our progress over the remainder
of 2025."

 

 For further information, please contact:

 

 MYCELX Technologies Corporation

 Connie Mixon, CEO                                                      Tel: +1 888 306 6843

 Kim Slayton, CFO

 Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker)

 Giles Balleny / Dan Hodkinson (Corporate Finance)                      Tel: +44 20 7220 0500

 Ondraya Swanson (Corporate Broking)

 Jasper Berry / Michael Johnson (Sales)

 Celicourt Communications (Financial PR)

 Mark Antelme                                                           Tel: +44 20 7770 6424

 Jimmy Lea

 Charlie Denley-Myerson

 

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