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LONDON (Alliance News) - Mycelx Technologies Corp said Tuesday that it had won a new contract in the Middle East with an undisclosed Kuwaiti petrocehmical company, for a project to take place in the fourth quarter of 2014.
Financial details of the contract were not disclosed, though Mycelx said that the contract will generate "significant" revenue, most of which will be recognised in this year.
The deal is with a company that Mycelx won an initial six month contract with earlier in the year, it said.
"The Middle East region remains an area of specific opportunity for MYCELX and we are delighted to build upon our market entry into Kuwait earlier this year with this new contract award," said Chief Executive Connie Mixon in a statement.
Shares in Mycelx were trading up 1.9% at 400.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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