8 Aug 2012 07:00
8 August 2012
MYCELX TECHNOLOGIES CORPORATION
("MyCelx" or the "Company")
CONTRACT WIN FOR US$2.35 MILLION
MyCelx Technologies, Inc (AIM: MYX), the clean water technology company providing patented solutions for the oil and gas industry and industrial markets worldwide, is pleased to announce a significant contract win, worth US$2.35 million.
The contract is the Company's second project for a major US fuel oil terminal. MyCelx will provide its patented 'Clean Water' system at a new oil storage terminal to manage a combination of storm water runoff, boiler condensate and sump water for discharge. Engineering and installation will take place from late 2012 through Q1 2013. Revenue will be impacted positively in both years with a small portion reflected in 2012 and the remainder in 2013.
Commenting on today's announcement Connie Mixon, CEO of MyCelx, said:
"I am pleased to announce another contract win for MyCelx. By leveraging a successful project in a nearby oil terminal site, the current win highlights further acceptance of MyCelx's solutions in the oil terminal space and will provide continued momentum through the second half of the year and into 2013."
For further information please contact:
MyCelx Technologies Corporation
Connie Mixon, CEO
Tel: +1 888 306 6843
Numis Securities Limited
Corporate Finance
Alastair Stratton / Stuart Skinner / Jamie Loughborough
Tel: +44 20 7260 1000
Corporate Broking
James Black / Ben Stoop
Tel: +44 20 7260 1000
Pelham Bell Pottinger
Nick Lambert / Mark Antelme / Henry Lerwill
Tel: +44 20 7861 3232
Notes for Editors
·; MyCelx Technologies Corporation is a clean water technology company that provides novel water treatment solutions to the oil and gas, power, marine and heavy manufacturing sectors;
·; MyCelx invented and is the owner of the MyCelx polymer which is infused in the consumable media contained in equipment supplied by the Company;
·; The technology produces treatment results that compare favourably to existing competition in effectiveness, cost and footprint. The MyCelx polymer and its use are protected by patents and other intellectual property rights;
·; The defining difference of the MyCelx polymer as compared with alternative technologies currently available is that it is capable of permanently and reliably removing free, emulsified and dissolved hydrocarbons from water upon contact to levels between 0-10 parts per million (ppm) at any flow rate;
·; MyCelx equipment has been installed successfully at the facilities of leading industry operators around the globe. The focus of the Company is now directed at the commercial application of MyCelx solutions in both upstream and downstream markets in the oil and gas industry;
·; Over the last three years, the Company has sold its products primarily in North America, Asia, Australia, Middle East and Europe. Customers include such oil and gas companies as Chevron, BP, Anadarko Petroleum Corporation, SABIC, engineering, procurement and construction companies such as Mustang Engineering and global water treatment companies;
·; Further information on MyCelx Technologies Corporation can be found at www.mycelx.com