Business
Operational and Trading Update
Operational and Trading Update.
About this update from Mycelx Technologies Corp.
[{"type":"text","content":"\n\nThe information contained within this Announcement is deemed by MYCELX Technologies Corporation to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\").\n \n7 April 2025\n \nMYCELX Technologies Corporation\n(\"MYCELX\" or the \"Company\")\n \nOperational and Trading Update\n \nMYCELX Technologies Corporation (AIM: MYX), the clean water and clean air technology company, is pleased to provide an update on its trading and business operations.\n \nEarn-out on sale of Saudi Arabia business operations\n \nMYCELX confirms that the earn-out for the first 12-month period from the sale of its Saudi Arabia branch assets in 2024 is $1.25 million and the Company expects to recognize a further gain on the sale in 2025 based on the earn-out for the second 12-month period.\n \nSuccessful water trial in the United States\n \nMYCELX is also pleased to update the market on a successful produced water trial in the United States (\"US\") that was completed in Q1 2025. The project deployed the MAC (\"MYCELX Advanced Coalescer\") and REGEN system with a global integrated oil producer. The trial confirmed that the patented MYCELX solution achieves performance benefits with its two-stage system that are beyond the operating capability of the traditional three stage systems currently in use by our competitors. The primary goals of the trial were showcasing the efficiency of removing residual oil from produced water as well as measuring the quality level of the captured oil.\n \nThe MYCELX system recovered over 99% of the oil in the water and the oil quality was well above the producer's sales specification. The immediate benefits to the producer include their ability to sell the high-quality recovered oil creating a continuous revenue stream, and recycling the remaining water for use in their other processes. The Company believes that this is a leap forward in creating value and optimizing benefits from produced water treatment and looks forward to updating the market on future progress and projects.\n \nThe Company will begin two anticipated PFAS trials within the next 4-6 weeks and is working with channel partners to sell its PFAS-Flex™ mobile syste...