Mycelx Technologies Share Discussion Threads

[hedgehog 100] 30/8/2022 08:51

30/08/2022 07:01 UK Regulatory (RNS & others) MyCelx Technologies Corporation New Project Awards and Operations Update LSE:MYX Mycelx Technologies Corporation

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water and clean air technology company, is pleased to provide an update on recent operational momentum, including the award of new contracts in the Middle East.

MYCELX has secured a new purchase order from SABIC Agri-Nutrients, a SABIC affiliate, to provide clean water for optimal performance in their fertiliser production process. This installation is the fourth project with this customer and demonstrates MYCELX's status as vendor of choice for the toughest water treatment. The Company has also expanded its footprint in Saudi Arabia with the award of a short-term emergency response project with a leading independent petrochemical company. The Company expects that this initial project will develop into a longer-term partnership thereby helping to meet its goal of client diversification. In addition to this exciting work, MYCELX announces the renewal of two water treatment contracts with long-standing customers in the region and the establishment of a Master Framework Agreement with SABIC for Wastewater Treatment. This is a testament to the quality of the work and benefits MYCELX brings, the relationship the Company has with its customers and the excellence of its technology. These projects underpin the 2022 revenue forecast and the Company remains on track to meet current guidance.

MYCELX confirms the successful, ongoing trial of its unique REGEN product for use in Enhanced Oil Recovery with a major producer in the Middle East. The Company is also in advanced negotiations with another major producer for a REGEN retrofit of their existing equipment to benefit from MYCELX's superior removal efficiency, cost savings and the potential to increase flow rate by up to 30%. Beyond the Middle East, the Company is pleased to announce that a further REGEN system has now been installed and commissioned in Nigeria.

As part of MYCELX's strategy to expedite its access to the significant PFAS remediation market, the Company is pleased to confirm that it is currently in discussions with several global water treatment companies, an environmental engineering firm and companies focused on treatment for the residential market. Through these channels, the Company expects to run further PFAS trials in the USA. These will build upon the successful recent trial, through the Company's Australian distribution partner, at a landfill leachate installation where MYCELX PFAS technology was proven to remove contaminants down to non-detectable levels cost effectively. This broader capability in PFAS removal places MYCELX in a strong position as a cost-effective solution, as the enormity of the PFAS global problem is exposed and the need for complete removal gains public attention. We look forward to updating shareholders with further developments in the coming months.

Connie Mixon, CEO of MYCELX, said:

"I am pleased to provide an update in the Middle East, where our team continues to secure our position as the 'supplier of choice' for clean water solutions. In particular, REGEN is proving its performance and sustainability credentials through the successful ongoing trial in the sizeable enhanced oil recovery market. We look forward to providing more updates, including with regards to our critical PFAS remediation solution."

[hedgehog 100] 22/8/2022 08:31

"Breakthrough over potentially harmful chemicals found in most homes

By Esme Stallard
BBC News Climate and Science

Published
2 days ago

... PFAS stands for poly- and perfluoroalkyl substances. There are around 4,500 of these fluorine-based compounds and they are found in almost every dwelling on Earth in products including food packaging, non-stick cookware, rain gear, adhesives, paper and paints.

... The team of scientists hope that with further research PFAS could be filtered from drinking water and this new method applied to destroy the contaminants.

... This new method was applied to the 10 most prominent types of PFAS, but the US Environment Protection Agency has identified more than 12,000.

William Dichtel, one of the co-authors and professor of chemistry at Northwestern remains hopeful: "There are other classes that don't have the same Achilles' heel, but each one will have its own weakness." ..."




Yes that's right, Concentrate.

PFAS would still need to be removed from drinking water first, which is what MYX's solution does:

"• Systematic approach efficiently and economically removes PFAS and contaminant precursors from water

• No discrimination by PFAS carbon chain length - highly efficient removal for all size ranges of PFAS"




In addition, the new breakthrough has only been shown to work on under 1% of PFAS types, and it is still relatively early stage - further research is needed.

[concentrate] 19/8/2022 10:06

My (limited) understanding is that these news articles should be good news for Mycelx.

The articles state that scientists have found a solution to destroy PFAS; however, their solution needs to be applied to the PFAS material - and not the water body.

"Water companies can filter PFAS out of drinking water but the chemicals then need to be disposed of...The Northwestern-UCLA process will also need PFAS to be captured or concentrated from water and contaminated sites before they can be destroyed. The scientists behind the discovery said they are ready to work with the environmental remediation industry to apply the approach while they work to extend their strategy to other types of forever chemicals."

[hedgehog 100] 08/8/2022 11:59

MYX has said that they're evaluating partnership opportunities for their PFAS solution, so licencing out of their technology for this could be very possible:-

11/03/2022 07:00 UK Regulatory (RNS & others) MyCelx Technologies Corporation Proposed Placing and Subscription LSE:MYX Mycelx Technologies Corporation
"... Having achieved this highly significant validation, the Company is now looking to accelerate the commercialisation of its technology across the United States. The Company is evaluating partnership opportunities with several environmental engineering contractors and water treatment specialist companies to expedite its market penetration. Accordingly, the proceeds of the Fundraising are intended to be used to aggressively market and commercialise MYCELX's PFAS solution, which are expected to lead to customer education, further trials and contract wins...."

[hedgehog 100] 08/8/2022 11:40

Thanks to Skid35 on LSE today for flagging up this new research:-

"Pollution: 'Forever chemicals' in rainwater exceed safe levels

By Matt McGrath
Environment correspondent

Published
5 days ago

New research shows that rainwater in most locations on Earth contains levels of chemicals that "greatly exceed" safety levels.

These synthetic substances called PFAS are used in non-stick pans, fire-fighting foam and water-repellent clothes.

Dubbed 'forever chemicals', they persist for years in the environment.

Such is their prevalence now that scientists say there is no safe space on Earth to avoid them. ...

The researchers from Stockholm University say it is "vitally important" that the use of these substances is rapidly restricted.

Scientists fear PFAS may pose health risks including cancer, though research has so far been inconclusive. They have been growing increasingly concerned about the proliferation of PFAS in recent years.

PFAS stands for poly- and perfluoroalkyl substances.

There are around 4,500 of these fluorine-based compounds and they are found in almost every dwelling on Earth in hundreds of everyday products including food packaging, non-stick cookware, rain gear, adhesives, paper and paints.

Safety concerns about the presence of these long-lasting substances in drinking water have also been raised.

Earlier this year a BBC investigation found PFAS in water samples in England at levels that exceeded European safety levels, but did not exceed the current safety level in England and Wales.

This new study, which looks at four specific chemicals in the class, suggests that levels of one PFAS in rainwater around the globe often "greatly exceed" US drinking water advisory levels.

Soil around the world is similarly contaminated, evidence suggests.

The study's findings lead the authors to conclude that a planetary boundary has been crossed - that there simply is no safe space on Earth to avoid these substances. ...

Removing the chemicals in the study from drinking water at treatment plants is possible, if expensive.

But getting below the US advisory levels is extremely challenging, according to the authors.

As scientists have gained more knowledge about PFAS over the past 20 years, the safety advisories have been continuously lowered. ..."

[hedgehog 100] 13/7/2022 17:41

13/07/2022 15:32 UK Regulatory (RNS & others) MyCelx Technologies Corporation Result of Annual Meeting LSE:MYX Mycelx Technologies Corporation

The Company is pleased to announce that, at its Annual Meeting held on 13 July 2022 at the offices of Canaccord Genuity, 88 Wood Street, London, EC2V 7QR, the resolutions set out in the Notice of Annual Meeting were duly passed on a Poll.

Full details of the resolutions passed are set out in the Notice of Meeting which is available on the Company's website www.mycelx.com . ...

[hedgehog 100] 19/6/2022 11:57

13/06/2022 07:00 UK Regulatory (RNS & others) MyCelx Technologies Corporation 2021 Annual Report & Notice of 2022 Annual Meeting LSE:MYX Mycelx Technologies Corporation

Mailing of 2021 Annual Report and Notice of 2022 Annual Meeting

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water and clean air technology company transforming the environmental impact of industry, announces that, following the release on 17 May 2022 of the Company's Final Results for the year ended 31 December 2021, the 2021 Annual Report is today being mailed to shareholders together with the Notice of 2022 Annual Meeting.

Copies have been placed on the Company's website at www.mycelx.com . Copies will also be available free of charge from the Company's headquarters at 1650 International Court, Suite 100, Norcross, Georgia, USA 30093 for a period of at least one month.

Annual Meeting

The Company's 2022 Annual Meeting will be held at 2:00 p.m. (BST) on Wednesday 13 July 2022 at the offices of Canaccord Genuity, 88 Wood St, London EC2V 7QR.

For further information please contact:

MYCELX Technologies Corporation
Connie Mixon, CEO Tel: [phone]
Kim Slayton, CFO
Canaccord Genuity Limited (Nomad and Sole Broker)
Henry Fitzgerald-O'Connor Tel: [phone]
Gordon Hamilton
Celicourt Communications
Mark Antelme Tel: [phone]
Jimmy Lea

Notes to Editors

Through its revolutionary patented water technology with a mission to reduce the impact of industry on the environment, MYCELX brings its customers material benefits in terms of supporting environmental goals, performance enhancement, cost savings and small footprint. Working beyond any ordinary filtration methods, MYCELX's proprietary technology achieves oil removal to less than one part per million as well as removal of other emerging contaminants in water streams. MYCELX supports its international customers across the oil & gas value chain by ensuring clean water discharge or reuse and in groundwater remediation for industrial and military sites. 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

[slicethepie] 24/5/2022 14:45

Don't you love these characters called market makers, not content to take £240 for doing nothing but then mark the price down just in case someone else dares to try and sell some stock and they have to hope there is a buyer. Not fit for purpose.

[hedgehog 100] 17/5/2022 09:42

17/05/2022 07:01 UK Regulatory (RNS & others) MyCelx Technologies Corporation Final Results for Year Ending 31 December 2021 LSE:MYX Mycelx Technologies Corporation

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water and clean air technology company, announces its audited results for the year ended 31 December 2021.

Highlights

Financial

-- Revenue of $8.5 million (2020: $7.1 million)
-- Gross profit of $3.3 million (2020: $1.6 million)
-- EBITDA(1) of $19,000 (2020: negative $4.2 million)
-- Loss before tax $1.1 million (2020: loss before tax $5.8 million)
-- Cash & cash equivalents $3.2 million (2020: $3.8 million)

Operational

-- Middle East:

o Significant new contract and two contract extensions

o Two separate contract wins including REGEN media sale and paid REGEN trial with leading EOR producer

-- U.S. PFAS Market:

o Successful U.S. PFAS trial demonstrating ability to remove all PFAS compounds to non-detect levels

o Engineered and built two PFAS remediation units for commercialisation in 2022

-- U.S. Business Development

o Seasoned Business Development professional hired to drive sales in North America

o Further contract win for an industrial water treatment project

-- Launched new website

-- Sale of Duluth office for $5.4 million

Post Period

-- Closed a Placing of 3,539,273 Common Shares raising gross proceeds of approximately $2.3 million before expenses

Connie Mixon, CEO, said:

"In 2021, a more stable oil price benefitted the Company's core business which focusses primarily on supporting the energy industry's clean production initiatives. This energy market strength, along with the Company's efforts, helped MYCELX achieve both new contracts and the extension of existing contracts across multiple core geographies. The Company also made significant inroads into the PFAS remediation market, demonstrating our PFAS system is cost effective and more efficient than existing technologies.

MYCELX is well placed to capitalise on new, large market applications with ambitious growth targets. With industry's increased focus on mitigating environmental impact, MYCELX's proven technology has never been more relevant in the fight for clean water and air. We look forward to keeping all our stakeholders updated on the Company's progress throughout the rest of the year." ...

Chairman's Statement

MYCELX meets the growing demand for innovative technology that mitigates the environmental impact of industry

I am pleased to address our shareholders, and all stakeholders, following my first year as Chairman of your Company. MYCELX today is in a strong position, and strategically well placed to capitalise on the growing demand for innovative technology, which is designed with the clear intention of helping the world mitigate the environmental impact of industry. We are leaders in this field and are supporting compliance across multiple industries and geographies. ...

The PFAS remediation market represents a material opportunity for MYCELX, and you will read in the annual report the significant progress that has been made to accelerate commercialisation of our PFAS offering. PFAS, which stands for perfluoroalkyl and polyfluoroalkyl compounds, are a collection of long-lasting man-made toxic chemicals, which present a threat to the environment and human health. The Company estimates the annual PFAS remediation cost in the United States alone to be in excess of US$8bn and growing as contaminated sites continue to be identified.

Outlook

Our outlook is encouraging on multiple fronts. The PFAS remediation market is a significant growth opportunity for MYCELX, providing real environmental and health benefits deploying our effective and efficient technology. In our traditional energy markets, today's high oil price bodes well for the completion of new commercial agreements with both existing and new international customers, and we are optimistic that the resurgence in bidding activity will support strong performance in 2022 and beyond. Our REGEN offering is also expected to play an important role as we grow within the Enhanced Oil Recovery market of the energy sector. We continue to focus on taking advantage of these attractive market opportunities. ...

[concentrate] 26/4/2022 08:34

Very quiet on the news here.

Hoping that as significant US funding begins to be allocated, we hear more regarding the PFAS remediation strategy.

[pugugly] 22/3/2022 12:56

Broker placing of S Shares looks like a total failure. Only 155,000 Broker Option Shares of the 763,360 available taken up. S shares a very trickie beastie!! (imo)

[someuwin] 19/3/2022 20:53

UK's safe level for tap water too high - scientists

Scientists are concerned that the allowable levels of toxic PFAS - known as "forever chemicals" - in UK drinking water are too high...

[someuwin] 17/3/2022 12:00

This was the key part from the placing RNS...

"...The Fundraising is being undertaken to accelerate the commercialisation of the Company's remediation system in the US for PFAS and in order to support working capital across the Company's core markets. PFAS, which stands for perfluoroalkyl and polyfluoroalkyl compounds, are a collection of long-lasting man-made toxic chemicals, which present a threat to the environment and human health. The Fundraising follows the recent completion of a successful PFAS remediation trial for the US Department of Defense, which saw MYCELX's remediation technology achieve 99.9% removal efficiency across 14 PFAS contaminants. The Department of Defense alone estimates that its PFAS remediation costs to be in excess of $2.1 billion beginning in 2021, in addition to the $1.1 billion in actual PFAS costs that were occurred in 2020."

You don't get to do a trial with the US Department of Defense unless they ask you to. The fact that they achieved 99.9% efficacy. Plus we know they score highly on opex costs and low waste, surely means they'll get the gig. (or at least some of the work from DoD as its a huge task) I'm guessing the fundraise was seen as important to show the co was in a healthy position.

Watch this space imo. Big things coming.

[nico115] 17/3/2022 11:22

And none of the placing stock will be sold for a year as its regular S so no loose Stk from that. I think 80p /100p is a fair price And if we win pfas contacts a lot more than that.

[someuwin] 17/3/2022 09:39

Two things that are not going to go out of fashion any time soon - oil extraction and clean water. Mycelx makes it easier and cheaper to do the first thing while maintaining the second.

And now MYX is moving into the much bigger area of drinking water / environment safeguarding and remediation. Cleaning up from and preventing contamination from PFAS is a huge new opportunity (emerging multi $billion global health issue) - and MYX solution is one of the most effective and one of the cheapest.

[hedgehog 100] 16/3/2022 18:10

Slicethepie,

I agree that MYX looks a decent buy at or near the fundraising price of 50p.

If you're struggling to buy it though, perhaps you may care to have a look at OTAQ, which is not dissimilar.

It had a placing in December at 22p, and it's currently possible to buy in at a tad below that.

Like MYX, OTAQ has an oil services arm, which should be a boom area this year with the surging oil price.

And also like MYX, it has a related arm (aquaculture in OTAQ's case) which is a more exciting growth area.

Be warned though that OTAQ, like MYX, is tightly-held, so it can be difficult to buy.

[slicethepie] 16/3/2022 17:31

Agree great story, had hoped to double up when a placing was announced but only deal via platforms so missed out. Will keep nibbling away !

[nico115] 16/3/2022 17:28

Not surprised Fully funded now for 2 years Big director buying Oil price alight Pfas v exciting with a huge market

[slicethepie] 16/3/2022 17:09

V difficult to buy only got 1000 today

[nico115] 15/3/2022 15:58

I've added substantially at 50p

[someuwin] 15/3/2022 15:39

I think its a safe bet buying at this level.

Directors just paid £172k for new stock at 50p.

[concentrate] 11/3/2022 08:56

A placing was always needed with the huge cash burn. I’m just surprised how little they raised. Hopefully that’s because they expect a stronger price going forward.

Can someone help explain the relevance of the new share type?

[nico115] 11/3/2022 07:42

Good news seeing directors buying Also 75pct of placing is directors and Octopus so very sticky In fact holders probably locked in for a year as reg S so near on impossible to sell?So as long as we deliver on pfas this could double ...at least