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

Mycelx TechnologiesAnnouncement

08/12/2022 07:00

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RNS Number : 0438J  MyCelx Technologies Corporation  08 December 2022

8 December 2022

 

MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)

 

Trading Update

 

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 will end the year trading fully in
line with market expectations for 2022.

 

While the year was a challenge primarily because of project award timelines,
the Company is poised to continue its progress into next year with its focus
on REGEN, PFAS and the Middle East.

 

MYCELX Technologies is also pleased to announce it has successfully completed
a paid trial in the USA with a global integrated energy company deploying
REGEN and Polishing Systems as part of the solution to treat oilfield produced
water to the stringent specifications required for beneficial reuse. This is a
significant step forward in repurposing produced water for agricultural use
given the enormous need in water sensitive regions. REGEN is also currently in
service in the Middle East where it is saving water and increasing performance
compared to conventional technologies across the petrochemical and upstream
oil and gas sectors, in particular at Enhanced Oil Recovery production. Use of
our effective technology places REGEN on the forefront of technological
innovation that is solving the toughest water problems such as beneficial
reuse and preservation.

 

Within Saudi Arabia, the Company has commenced a rapid response project which
is the fifth ammonia removal installation that we have undertaken with SABIC
Agri-Nutrients, a global leader in the fertiliser industry. We are also happy
to report that the Company has received a project extension with our newest
customer due to our consistent superior results which we hope will help
strengthen our relationship with this leading independent petrochemical
company. These projects underpin our forecast for this year and into 2023.

 

 

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 8434 2754

 Jimmy Lea

 

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