MyCelx Technologies secures second 'significant' Middle East contract win this year

Clean water and air technology company MyCelx Technologies said on Thursday that it had secured its second "significant contract win" in the Middle East this year.

Revenues for the contract were said to be approximately $1.0m and will primarily fall in the 2022 financial year, providing the company with further financial visibility.

The AIM-listed firm stated the win supplemented the four contract renewals awarded to it year-to-date and showed "further evidence" of both an improving market but also "the continuing excellence" of its product suite.

Chief executive Connie Mixon said: "This is a real testament to the hard work and dedication shown by our team in the Middle East as well as the enduring relationships that they have with our customers.

"We are delighted with this contract and look forward to updating our shareholders with further news in due course."

As of 1015 BST, MyCelx shares had shot up 11.76% at 38.0p.