REG - MyCelx Tech. Corp. MyCelx Tech. Cp-MYXR - PFAS Update

Mycelx TechnologiesAnnouncement

19/07/2024 10:45

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RNS Number : 0174X  MyCelx Technologies Corporation  19 July 2024

19 July 2024

 

MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)

 

PFAS Update

 

Partnership enables MYCELX to work on US Department of Defense PFAS projects

 

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water
and clean air technology company transforming the environmental impact of
industry, is pleased to announce that it has signed a Business Partnership
Agreement with an 8a and HUBZone Certified Prime Contractor (the "Contractor")
with the sole purpose of developing a mutually beneficial business
relationship focused on the United States Department of Defense ("DoD") funded
PFAS remediation projects. HUBZone (Historically Under-utilized Business
Zones) is administered by the SBA (Small Business Administration) and allows
qualified businesses to be eligible to compete for the program's set-aside
contracts(1) within the DoD.

 

MYCELX considers the Contractor, who is also based in Georgia, to be well
connected within the DoD and The United States Environmental Protection Agency
and anticipates this agreement will lead to the award of future PFAS
remediation projects in this large, important market vertical throughout the
United States. The market for PFAS remediation services is a high growth high
margin industry and MYCELX is fully focused on furthering its entry into the
market.

 

DoD's estimated cost to investigate and clean up PFAS in Fiscal Year (FY) 2024
and beyond is $9.7 billion (estimate as of the end of FY 2023). This is a
preliminary estimate that DoD expects will increase significantly as the
ongoing investigations are completed and more information is known about the
extent of the cleanup required.

 

(1) Contracts that the government limits competition to small businesses in
order to help them compete and win federal contracts

 

Connie Mixon, CEO, commented:

 

"I am pleased to announce this exciting development for MYCELX which will
ensure great exposure for our proprietary technology to be used for PFAS
remediation work on projects being run by the DoD. We look forward to working
closely through this new partnership to address the DoD's PFAS removal needs
and to help remedy the proliferation of forever chemicals in the United
States."

 

 

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

 Ana Ercegovic

 Celicourt Communications (Financial PR)

 Mark Antelme                                       Tel: +44 20 7770 6424

 Jimmy Lea

 Charlie Denley-Myerson

 

 

 

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