MYCELX Technologies Corporation, the clean water technology company providing patented solutions for the Oil and Gas industry and commercial markets worldwide, is pleased to announce that its successful Quenchwater System has been renewed by SABIC, the diversified chemicals company. The contract is on the same commercial terms for a further two years and valued at $5 million. This renewal is due to the consistent, successful performance of the unit since its installation in 2013. In addition, the Company is pleased to announce that a new purchase order has been secured from SABIC for a rapid response water treatment system that will commence operations in February 2018.
Commenting on the market update, Connie Mixon, CEO said:
“The renewal of our showcase Quenchwater system together with the continued momentum that our Saudi team is generating with new purchase orders has resulted in a strong start to 2018. The new purchase order is a testament to the strength of MYCELX’s offering and follows the superior performance achieved by the projects secured at the end of FY2017.”
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