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26-08-2014

Middle East contract win for MYCELX Technologies Corporation

MYCELX Technologies Corporation, the clean water technology company providing patented solutions for commercial industrial markets worldwide, is pleased to announce a new contract win in the Middle East.

The Company has been awarded a water treatment contract from a Kuwaiti petrochemical company for a project that will take place in Q4 2014. This follows the Company's successful market entry into Kuwait earlier this year, the installation of one of the Company's systems and an initial six month contract with the same petrochemical company.

Whilst the Company's focus is on securing long term contracts with all the benefits of recurring revenue generation, this win demonstrates how the MYCELX systems are designed to manage difficult and fluctuating influent conditions and volume, and is therefore ideally suited for turnaround projects and emergency response given the reliability, mobility and small physical footprint.

Connie Mixon, CEO of MYCELX, commented:
"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. We faced tough competition to secure this contract, which is further evidence that our technology and treatment systems offer leading edge performance in extremely challenging conditions.

The nature of this contract will generate significant revenue most of which will be recognised in this year and is a demonstration of how our investment in personnel and infrastructure for new business development in the region continues to yield significant dividends. "

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