MyCelx Technologies Corporation

04/23/2018 | News release | Distributed by Public on 04/23/2018 07:00

April 10, 2018 - Al Jubail, Saudi Arabia - Purchase Order Award

MYCELX Technologies Corporation (AIM: MYX), the clean water technology company providing patented solutions for the Oil and Gas market and commercial industrial markets worldwide, is pleased to announce that SABIC, the diversified Saudi Arabian petrochemical company, has awarded a new purchase order for a twelve-month extension for one of the Company's rapid response systems that was deployed in Q4 2017. The contract has been secured in collaboration with one of the Company's waste management partners in The Kingdom.

With this new purchase order, the Company currently has visibility over $13-14m of revenues from both annual recurring sales and the contracted order book; this is the equivalent of the Company's full year 2017 unaudited revenue. In addition to this new purchase order, the Company is continuing to pursue further opportunities and looks forward to leveraging its success to further increase its installation base in Saudi Arabia.