REG - MyCelx Tech. Corp. MyCelx Tech. Corp.. - MyCelx and Schlumberger Sign Upstream Agreement <Origin Href="QuoteRef">MYXR.L</Origin>

Mycelx TechnologiesAnnouncement

24/06/2016 07:00

RNS Number : 1306C
MyCelx Technologies Corporation
24 June 2016
MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)
("MYCELX" or the "Company")
MYCELX and Schlumberger Sign Upstream Agreement
HOUSTON, June 24, 2016-MYCELX Technologies Corporation (AIM: MYX), the clean water technology company providing patented solutions for commercial industrial markets worldwide, is pleased to announce that it has entered into an exclusive marketing and distribution agreement with Cameron, a Schlumberger company. 
The agreement provides Schlumberger exclusive rights to distribute MYCELX products in the upstream market. In particular, both companies will work to expedite the industry adoption of MYCELX's new RE-GEN product line as the water treatment method of choice in the upstream oil and gas market. MYCELX will retain its current business in the downstream market for all its products and services.

MYCELX's Chief Executive Officer, Connie Mixon, commented:
"We are extremely pleased to be working with Schlumberger to bring our products to their global upstream customer base. This agreement is in line with our focus on establishing strategic alliances to leverage sales and marketing channels globally. We believe the RE-GEN product is a paradigm shift for upstream producers in that it allows them to meet their produced water treatment needs and provides meaningful cost savings."
About MYCELX
MYCELX is a leading water technology company with primary focus in the oil and gas, power, and marine sectors. The patented MYCELX polymer owned and manufactured by MYCELX Technologies uses novel molecular cohesion to reliably remove oil from water consistently to less than 1 ppm (part per million) or to the specific requirements of its upstream and downstream customers. MYCELX's systems provide superior performance compared to traditional equipment that results in significant operational cost savings. MYCELX water management systems are operating successfully across the globe with customers that include global integrated oil and gas companies, leading petrochemical companies, engineering, procurement and construction companies and global water treatment companies. For more information, visit http://www.mycelx.com
For further information please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO 
Kim Slayton, CFO
Tel: +1 (770) 534-3118
investor.relations@mycelx.com
RFC Ambrian Limited
Corporate Finance
Jonathan Stephens
Corporate Broking
Jonathan Williams
Kim Eckhof
Tel: +44 20 3440 6800
Numis Securities Limited 
Corporate Broking
James Black
Ben Stoop
Tel: +44 20 7260 1000
Bell Pottinger 
Nick Lambert
Henry Lerwill
Tel: +44 20 3772 2500



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