RNS Number : 8125B
MyCelx Technologies Corporation
23 April 2012
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This press release does not constitute or form a part of, and should not be construed as, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in MyCelx Technologies Corporation ("MyCelx" or the "Company").
THE COMPANY'S COMMON SHARES HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT") OR ANY STATE SECURITIES LAWS (THE "STATE ACTS") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS THE SECURITIES ARE REGISTERED UNDER THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS IS AVAILABLE.
23 April 2012
MYCELX TECHNOLOGIES CORPORATION
("MyCelx Technologies, Inc or the "Company")
Purchase Orders Received for US$2.65 million
MyCelx Technologies, Inc (AIM: MYX), the clean water technology company providing patented solutions for commercial industrial markets worldwide, has received two separate Purchase Orders from Saudi Basic Industries Corp ("SABIC") and Oil and Natural Gas Corporation ("ONGC"), Saudi Arabia's largest listed company and India's state owned oil and gas company, respectively. The total value of both purchase orders is US$2.65 million.
The Purchase Order to deliver a MyCelx Clean Water system from SABIC has a value of US$745,000 with media sales to follow. The MyCelx oil removal system will enhance the performance of SABIC's petrochemical production process with start-up scheduled for Q3 2012. This will be the third MyCelx Clean Water system installed in the SABIC complex and the first of its kind in the mainstream production process.
The Purchase Order from ONGC is for effluent treatment support and has a value of US$1.9 million. Work will be delivered in Q4 2012.
Commenting on today's announcement Connie Mixon, CEO of MyCelx, said:
"We are delighted to be working with SABIC again and to have received a first time order from ONGC. These Purchase Orders from both a new and existing client is another endorsement of MyCelx's unique offering and a demonstration of the progress we are making with our growth strategy which we have vigorously pursued since our listing last year. "
MyCelx Technologies Corporation
+1 888 306 6843
Connie Mixon - CEO
David Pattillo - CFO
Numis Securities Limited
+44 207 260 1000
Corporate Finance/Nominated Adviser
Pelham Bell Pottinger
+44 207 861 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 favorably 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
This information is provided by RNS
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