REG - MyCelx Tech. Corp.MyCelx Tech. Corp.. - Middle East Contract Win <Origin Href="QuoteRef">MYXR.L</Origin>

Mycelx TechnologiesAnnouncement

29/10/2014 15:03

RNS Number : 8994P
MyCelx Technologies Corporation
26 August 2014
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THE COMPANY'S COMMON SHARES HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT") OR ANY STATE SECURITIES LAWS (THE "STATE ACTS") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS THE SECURITIES ARE REGISTERED UNDER THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS IS AVAILABLE.
MYCELX Technologies Corporation
("MYCELX" or the "Company") (AIM: MYX)
26 August 2014 
Middle East Contract Win
MYCELXTechnologies Corporation (AIM: MYX), the clean water technology company providing patented solutions for commercial industrial markets worldwide, is pleased to announce a new contract win in the Middle East.
The Company has been awarded a water treatment contract from a Kuwaiti petrochemical company for a project that will take place in Q4 2014. This follows the Company's successful market entry into Kuwait earlier this year, the installation of one of the Company's systems and an initial six month contract with the same petrochemical company.
Whilst the Company's focus is on securing long term contracts with all the benefits of recurring revenue generation, this win demonstrates how the MYCELX systems are designed to manage difficult and fluctuating influent conditions and volume, and is therefore ideally suited for turnaround projects and emergency response given the reliability, mobility and small physical footprint.
Connie Mixon, CEO of MYCELX, commented:
"The Middle East region remains an area of specific opportunity for MYCELX and we are delighted to build upon our market entry into Kuwait earlier this year with this new contract award. We faced tough competition to secure this contract, which is further evidence that our technology and treatment systems offer leading edge performance in extremely challenging conditions. 
The nature of this contract will generate significant revenue most of which will be recognised in this year and is a demonstration of how our investment in personnel and infrastructure for new business development in the region continues to yield significant dividends. "
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO
Mark Clark, CFO  Tel: +1 888 306 6843
Numis Securities Limited
Corporate Finance 
Stuart Skinner / Jamie Loughborough
Corporate Broking
James Black / Ben Stoop  Tel: +44 20 7260 1000
Bell Pottinger
Mark Antelme / Nick Lambert / Henry Lerwill Tel: +44 20 7861 3232
Notes for Editors
 MYCELX Technologies Corporation is a clean water technology company that provides novel water
treatment solutions to the oil and gas, power, marine and manufacturing sectors
 MYCELX invented and is the owner of the MYCELX polymer which is infused in the consumable media
contained in equipment supplied by the Company
 The technology produces treatment results that compare favourably to existing competition in
effectiveness,costand footprint. The MYCELX polymer and its use are protected by patents and other
intellectual property rights
 The defining difference of the MYCELX polymer as compared with alternative technologies currently
available is that it is capable of permanently and reliably removing free, emulsified and dissolved
hydrocarbons from water upon contact to levels between 0-10 parts per million (ppm) at any flow rate
 MYCELX equipment has been installed successfully at the facilities of leading industry operators around
the globe. Thefocusof the Company is now directed at the commercial application of MYCELX solutions
in both upstream and downstream markets in the oil and gas industry
 Over the last three years, the Company has sold its products primarily in the Middle East, North
America, Asia, Australia, and Europe. Customers include global oil and gas and petrochemical
companies such as Chevron, BP, SABIC, Anadarko Petroleum, engineering, procurement and
construction companies and global water treatment companies
Further information on MYCELX Technologies Corporation can be found atwww.MYCELX.com

This information is provided by RNS
The company news service from the London Stock Exchange
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