REG - MyCelx Tech. Corp. MyCelx Tech. Cp-MYXR - Project Award

Mycelx TechnologiesAnnouncement

29/10/2024 07:00

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RNS Number : 9442J  MyCelx Technologies Corporation  29 October 2024

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").

 

29 October 2024

MYCELX Technologies Corporation

("MYCELX" or the "Company")

Project Award

MYCELX Technologies Corporation (AIM: MYX), the clean water and clean air
technology company, is pleased to announce the award of a project which
represents the Company's second REGEN installation at a Middle East Producer
to treat produced water during Enhanced Oil Recovery ("EOR") production. This
contract follows on the successful installation of our proprietary REGEN
Retro-fit package that was delivered in April of this year.

 

The value of the project is c.$1.5 million and helps to underpin the Company's
2025 revenue forecast. This contract further solidifies MYCELX's
industry-leading position in ensuring improved production performance and
reliability as well as providing better water management and water savings
during EOR production. The Company looks forward to working closely with the
client as they continue to upgrade and expand their assets as well as with
other producers in the region who collectively operate multiple production
fields.

 

Connie Mixon, CEO, commented:

 

"We are pleased to have secured another project with this leading Middle East
Producer, which supports our view that the EOR production market will deliver
significant growth opportunities for the business. These project wins
highlight our strong technical position in produced water treatment where
conventional methods of treatment are struggling to meet the needs of advanced
oil production methods. We look forward to providing investors with further
updates as we move towards year-end and into 2025."

 

For further information, please contact:

 MYCELX Technologies Corporation

 Connie Mixon, CEO                                              Tel: +1 888 306 6843

 Kim Slayton, CFO

 Canaccord Genuity Limited (Nominated Adviser and Sole Broker)

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

 Charlie Hammond

 Sam Lucas (ECM)

 Celicourt Communications (Financial PR)

 Mark Antelme                                                   Tel: +44 20 7770 6424

 Jimmy Lea

 Charlie Denley-Myerson

 

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