Mycelx Technologies secures second Middle East REGEN installation project

Clean water and air company Mycelx Technologies has been awarded a project that represents its second REGEN installation at a Middle East producer to treat water produced during enhanced oil recovery production.

Mycelx said on Tuesday that the roughly $1.5m contract followed the successful installation of its proprietary REGEN Retro-fit package that was delivered in April of this year.

The AIM-listed group stated the contract further solidified its "industry-leading position" in ensuring improved production performance and reliability, as well as providing better water management and water savings during EOR production.

"The company looks forward to working closely with the client as they continue to upgrade and expand their assets as well as with other producers in the region who collectively operate multiple production fields," said Mycelx.

As of 1000 GMT, Mycelx shares were up 4.39% at 40.19p.

Reporting by Iain Gilbert at Sharecast.com