MyCelx Technologies Corporation Trading Update (0438J)
December 08 2022 - 2:00AM
UK Regulatory
TIDMMYX TIDMMYXR
RNS Number : 0438J
MyCelx Technologies Corporation
08 December 2022
8 December 2022
MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)
Trading Update
MYCELX Technologies Corporation ("MYCELX" or the "Company"), the
clean water and clean air technology company transforming the
environmental impact of industry, is pleased to announce that it
will end the year trading fully in line with market expectations
for 2022.
While the year was a challenge primarily because of project
award timelines, the Company is poised to continue its progress
into next year with its focus on REGEN, PFAS and the Middle
East.
MYCELX Technologies is also pleased to announce it has
successfully completed a paid trial in the USA with a global
integrated energy company deploying REGEN and Polishing Systems as
part of the solution to treat oilfield produced water to the
stringent specifications required for beneficial reuse. This is a
significant step forward in repurposing produced water for
agricultural use given the enormous need in water sensitive
regions. REGEN is also currently in service in the Middle East
where it is saving water and increasing performance compared to
conventional technologies across the petrochemical and upstream oil
and gas sectors, in particular at Enhanced Oil Recovery production.
Use of our effective technology places REGEN on the forefront of
technological innovation that is solving the toughest water
problems such as beneficial reuse and preservation.
Within Saudi Arabia, the Company has commenced a rapid response
project which is the fifth ammonia removal installation that we
have undertaken with SABIC Agri-Nutrients, a global leader in the
fertiliser industry. We are also happy to report that the Company
has received a project extension with our newest customer due to
our consistent superior results which we hope will help strengthen
our relationship with this leading independent petrochemical
company. These projects underpin our forecast for this year and
into 2023.
For further information, please contact:
MYCELX Technologies Corporation
Connie Mixon, CEO Tel: +1 888 306 6843
Kim Slayton, CFO
Canaccord Genuity Limited (Nomad and Sole Broker)
Henry Fitzgerald-O'Connor Tel: +44 20 7523 8000
Gordon Hamilton
Celicourt Communications (Financial PR)
Mark Antelme Tel: +44 20 8434 2754
Jimmy Lea
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