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Mycelx Technologies touts 'strong' start to 2021 after contract extensions

By BFN News | 09:49 AM | Tuesday 02 March, 2021


Clean water and air technology group Mycelx Technologies said it had made a strong start to the year, thanks to contract wins, following a difficult 2020. The company said it had secured two project extensions with customers in Saudi Arabia. Mycelx also said it had secured a paid trial for its Regen solution, with the value of the project extensions, trial and a capital sale amounting to $3.5 million in revenue for 2021. 'As previously reported, the impact of the Covid-19 pandemic and the resulting disruption to its core markets meant that 2020 was an extremely challenging year for the business, with generated revenue of $7.1 million during the year,' Mycelx said. 'The company's strong start to this year demonstrates it has successfully navigated the downturn by focusing on supporting customers, advancing product development initiatives and implementing cost controls.' 'The company notes the recent increase in activity in core markets, and is well positioned to progress new contracts as the global economy begins to recover.' At 9:49am: (LON:MYX) MyCelx Technologies Corporation share price was 0p at 29p Story provided by StockMarketWire.com

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