Business
Contract Extension in Saudi Arabia
Contract Extension in Saudi Arabia.
About this update from Mycelx Technologies Corp.
[{"type":"text","content":"\n \nRNS Number : 9265V MyCelx Technologies Corporation 27 July 2018 \n\nThe 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.\n27 July 2018\nMYCELX TECHNOLOGIES CORPORATION\n(\"MYCELX\" or the \"Company\")\nContract Extension in Saudi Arabia\nMYCELX 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 further contract extension for its successful Waste Water Solution at a SABIC affiliate.\nAs a result of this extension and the higher than expected revenue generated by its other Saudi Arabian installations, the Company has increased its revenue forecast for 2018 to $19-$20m.\nThe Company continues to pursue additional advanced opportunities and will update the market as these further expand its installation base in Saudi Arabia.\nCommenting on the market update, Connie Mixon, CEO said:\n\"The extension of one of our Waste Water Solutions is testament to its reliably superior performance. Since the start of the year, MYCELX has successfully treated almost 10 million cubic metres of challenging waste water in Saudi Arabia and ensured that it consistently met Royal Commission Environmental Regulatory standards. We are delighted to be able to improve our revenue forecast for the year to $19-$20m, and continue to seek to secure further opportunities this year in Saudi Arabia, North America and Europe.\"\n \nFor further information please contact: \n\n\n\nMYCELX Technologies Corporation\nConnie Mixon, CEO\nKim Slayton, CFO\n \n\n\n \nTel: +1 888 306 6843\n\n\n\n\nCantor Fitzgerald Europe - NOMAD and Broker\nDavid Porter\nRichard Salmond\n \n\n\n \nTel: +44 20 7894 7000\n\n\n\n\nCelicourt Communications\nMark Antelme\nJimmy Lea\n\n\n \nTel: +44 20 7520 9266\n\n\n\nNotes to Editors\nMYCELX 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 C...