MyCelx and Schlumberger Sign Upstream Agreement

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: [phone] [e-mail]
RFC Ambrian Limited Corporate Finance Jonathan Stephens Corporate Broking Jonathan Williams Kim Eckhof	Tel: [phone]
Numis Securities Limited Corporate Broking James Black Ben Stoop	Tel: [phone]
Bell Pottinger Nick Lambert Henry Lerwill	Tel: [phone]

 

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