The information contained within this Announcement is deemed by MYCELX Technologies Corporation to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

6 May 2025

MYCELX Technologies Corporation

("MYCELX" or the "Company")

PFAS Contract Award

MYCELX Technologies Corporation (AIM: MYX), the clean water and clean air technology company, is pleased to announce the award of a short-term rental contract for a mobile PFAS treatment system to treat groundwater contamination at a site in North Dakota for the U.S. Department of Defense (DoD).

The original contract for PFAS treatment is for three months, but we believe volumes will increase so we are anticipating the rental potentially extending beyond the original term. As part of the project, MYCELX is conducting in-house treatability analysis to assess groundwater characteristics and predict system performance, enabling the Company to optimize PFAS removal efficiency on site. The ability to perform in-house treatability analyses accelerates sales timelines by giving MYCELX control over the testing process ultimately decreasing the amount of time to determine system design.

The contract is included in the Company's revenue forecasts for the 2025 financial year. It reflects the continued validation of MYCELX's innovative solutions by major clients with numerous sites, such as the DoD, who has assessed 718 sites to date and moved more than 50% to the next investigative phase which will require effective solutions such as MYCELX for long-term cleanups. According to the U.S. Government Accountability Office, remediation costs will continue to increase as the DoD learns more about the extent of PFAS releases. This is a decades long cleanup and working with the DoD now gives the Company more reference projects that can be promoted within the DoD as well as with other similar application projects.  

Connie Mixon, CEO, commented:

"Working with the Department of Defense on this PFAS remediation project as a very positive step forward for MYCELX. We have focused significant time and resources on developing our offering in the PFAS remediation market and being selected for contracts with the DoD demonstrates that our systems are cost effective, high performing, and reliable. We will shortly be involved in two highly anticipated PFAS trials, which, if successful, have the potential to convert into further commercial sales contracts in due course. As a team, we are very excited about the U.S.EPA's recent notification of plans to support PFAS remediation in the U.S., which we believe will create urgency and confidence for decision makers to move on clean up timelines. We look forward to keeping all of our stakeholders updated on our progress over the remainder of 2025."

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