Mycelx Di Regulatory News (MYX)

14 May 2021

MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)

PFAS System Validation

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water and clean air technology experts, is pleased to announce validation and capacity upgrade of its PFAS system at an Australian Department of Defence location.

This follows a successful deployment of the PFAS system by our Australian partner in 2018. The capacity upgrade contract was awarded as a consequence of the robust operating performance demonstrated over a two-year period, within budget, as well as allowing the customer to both support, improve and adhere to, its environmental goals.

PFAS (Perfluoroalkyl substances) remediation has been a key area of organic diversification for MYCELX and the Company is delighted with the progress made. This re-deployment is a step forward for the Company and has the potential to lead to further contract awards in due course. With the increasing awareness and legislation worldwide, the benefits of MYCELX's proprietary technology allows for efficient removal of toxic "forever" chemicals associated with adhesives and Teflon related products and has the potential to be a leading solution for PFAS remediation worldwide.

We look forward to updating shareholders further when the Company announces its 2020 Full Year Results the week commencing 24 May 2021.

Connie Mixon, CEO, said:

"This is an important contract as it proves that our PFAS system is cost effective, robust and reaffirms the rationale for our investment in this market since 2018."

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Notes to Editors

Through its revolutionary oil-free water technology, MYCELX brings its customers material benefits in terms of performance enhancement, cost savings and significantly improved environmental footprints. Working beyond any ordinary filtration methods, MYCELX's proprietary technology achieves oil removal to less than one part per million. MYCELX supports leading international customers across the oil & gas value chain, as well as other industrial users. MYCELX also provides advanced air filtration technology for manufacturing and industrial facilities, effectively removing oil particles and biologicals to maintain continuous and safe air quality levels.

For more information, visit www.MYCELX.com