New Purchase Order Award and Equipment Sale

RNS Number : 3933L

MyCelx Technologies Corporation

19 April 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) ("MAR"). This inside information is now considered to be in the public domain.

19 April 2018

MYCELX TECHNOLOGIES CORPORATION

("MYCELX" or the "Company")

New Purchase Order Award and Equipment Sale in Australia

MYCELX Technologies Corporation (AIM: MYX), the clean water technology company providing patented solutions for the Oil and Gas market and commercial industrial markets worldwide, is pleased to announce that it has secured a new purchase order in Saudi Arabia and has sold equipment in Australia. The new purchase order is for a three-month extension for the rapid response unit that was placed in February 2018 and was secured in collaboration with one of the Company's Saudi waste management partners. The equipment sale in Australia marks the first sale into the LNG market in that country. As a result of these two developments, which have a combined revenue impact of $2.7 million, and following the significant purchase order secured earlier this month, the Company is pleased to increase its 2018 revenue forecast range to $16 - $17 million.

The Company continues to pursue further opportunities and looks forward to leveraging its success to expand its installation base in Saudi Arabia and Australia.

Commenting on the market update, Connie Mixon, CEO said:

"We are delighted to announce another Saudi purchase order and the Australian equipment sale and to be able to improve our revenue forecast for the year. These developments reflect the Company's continuing momentum that is underpinned by the combination of our client-focussed approach and the superior performance of our technology, which allows us to efficiently solve the water treatment challenges faced by our clients."

For further information please contact: 

MYCELX Technologies Corporation Connie Mixon, CEO Kim Slayton, CFO	Tel: [phone]
Cantor Fitzgerald Europe - NOMAD and Broker David Porter Richard Salmond	Tel: [phone]
Celicourt Communications Mark Antelme Jimmy Lea	Tel: [phone]

Notes to Editors

MYCELX is a revolutionary oil-free water technology company solving the world's toughest oil removal problems in the oil and gas industry. The systems are based upon scientific breakthrough for a completely different approach to permanent oil removal. The Company created the patented MYCELX polymer using innovative molecular cohesion for removing oil from water far beyond what conventional systems have ever achieved. MYCELX systems remove oil to critically low levels in a much smaller physical footprint than conventional systems and in a virtually fail-safe process.

www.mycelx.com 

 

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