MYX.L

MyCelx Technologies Corporation (DI)
MyCelx Tech. Corp. - PFAS Update
19th July 2024, 09:36
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 0174X
MyCelx Technologies Corporation
19 July 2024
 

19 July 2024

 

MYCELX TECHNOLOGIES CORPORATION (AIM: MYX)

 

PFAS Update

 

Partnership enables MYCELX to work on US Department of Defense PFAS projects

 

MYCELX Technologies Corporation ("MYCELX" or the "Company"), the clean water and clean air technology company transforming the environmental impact of industry, is pleased to announce that it has signed a Business Partnership Agreement with an 8a and HUBZone Certified Prime Contractor (the "Contractor") with the sole purpose of developing a mutually beneficial business relationship focused on the United States Department of Defense ("DoD") funded PFAS remediation projects. HUBZone (Historically Under-utilized Business Zones) is administered by the SBA (Small Business Administration) and allows qualified businesses to be eligible to compete for the program's set-aside contracts1 within the DoD.

 

MYCELX considers the Contractor, who is also based in Georgia, to be well connected within the DoD and The United States Environmental Protection Agency and anticipates this agreement will lead to the award of future PFAS remediation projects in this large, important market vertical throughout the United States. The market for PFAS remediation services is a high growth high margin industry and MYCELX is fully focused on furthering its entry into the market.

 

DoD's estimated cost to investigate and clean up PFAS in Fiscal Year (FY) 2024 and beyond is $9.7 billion (estimate as of the end of FY 2023). This is a preliminary estimate that DoD expects will increase significantly as the ongoing investigations are completed and more information is known about the extent of the cleanup required.

 

1 Contracts that the government limits competition to small businesses in order to help them compete and win federal contracts

 

Connie Mixon, CEO, commented:

 

"I am pleased to announce this exciting development for MYCELX which will ensure great exposure for our proprietary technology to be used for PFAS remediation work on projects being run by the DoD. We look forward to working closely through this new partnership to address the DoD's PFAS removal needs and to help remedy the proliferation of forever chemicals in the United States."

 

 

For further information, please contact: 

 

MYCELX Technologies Corporation

Connie Mixon, CEO

Kim Slayton, CFO

 

 

 

Tel: +1 888 306 6843

Canaccord Genuity Limited (Nomad and Sole Broker)

Henry Fitzgerald-O'Connor

Ana Ercegovic

 

 

Tel: +44 20 7523 8000

Celicourt Communications (Financial PR)

Mark Antelme

Jimmy Lea

Charlie Denley-Myerson

 

Tel: +44 20 7770 6424

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDEAXXPFSPLEFA]]>
TwitterFacebookLinkedIn