New Gulf of Mexico Lease Award with Super Major

Summary by AI ^BETAClose X

MYCELX Technologies Corporation has secured a new offshore produced water treatment contract in the Gulf of Mexico with a global integrated oil company, which is expected to contribute approximately $850,000 to FY2026 revenue and around $1.5 million annually. This contract, involving the lease of proprietary treatment equipment and recurring filtration media sales, validates the company's strategy in the U.S. and supports its current FY2026 market expectations, reflecting continued commercial momentum in its core business.

Disclaimer*

MyCelx Technologies Corporation

12 May 2026

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").

12 May 2026

MYCELX Technologies Corporation

("MYCELX" or the "Company")

New Gulf of Mexico Lease Award with Super Major

MYCELX Technologies Corporation (AIM: MYX), the clean water and clean air technology company, is pleased to announce the award of its third offshore produced water treatment contract in the Gulf of Mexico with a global integrated oil company.

The contract is for the lease of MYCELX proprietary produced water treatment equipment for offshore operations and includes recurring monthly rental revenue with expected significant recurring filtration media sales.

The lease has commenced and, depending on overall media use in the current financial year, management expects this contract to contribute approximately $850K to the Company's FY2026 revenue and ca. $1.5 million on an annual basis.

The Board believes this contract further validates MYCELX's refocused strategy in the U.S. where the Company's opportunities to scale align with customers' need to meet stringent discharge regulations while improving operational reliability.

The contract underpins the Company's current FY2026 market expectations and reflects continued commercial momentum in MYCELX's core Produced Water treatment business.

Connie Mixon, CEO, commented:

"We are very pleased to expand our relationship with this super major in the Gulf of Mexico. This award reflects the growing industry recognition of MYCELX's differentiated produced water treatment technology and our proven offshore operating track record.

Importantly, this contract aligns with our strategy to increase higher-quality recurring revenue through equipment leases and ongoing media sales, which provides strong visibility and attractive margins. We continue to see growing demand for advanced produced water treatment solutions as offshore operators focus on operational reliability, environmental compliance and lower total water management costs.

The award also provides additional confidence in our FY2026 revenue outlook as we continue to execute on our commercial growth strategy".

For further information, please contact:

MYCELX Technologies Corporation

Connie Mixon, CEO

Kim Slayton, CFO

Tel: +1 888 306 6843

Cavendish Capital Markets Limited (Nominated Adviser and Sole Broker)

Giles Balleny / Callum Davidson / Elysia Bough (Corporate Finance)

Harriet Ward (Corporate Broking)

Jasper Berry / Michael Johnson (Sales)

Tel: +44 20 7220 0500

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