19th Apr 2018 11:51
LONDON (Alliance News) - Shares in MyCelx Technologies Corp rose on Thursday as it won a new purchase order in Saudi Arabia and sold equipment in Australia, leading to the rise of the company's revenue guidance for 2018.
Shares in the clean water technology company were up 11% at 114.00 pence on Thursday.
The Saudi Arabia purchase order was for a three-month extension for MyCelx's rapid response unit first placed in February, and secured by one of the company's Saudi waste management partners.
The equipment sale in Australia will be its first sale into the country's liquefied natural gas market.
The two orders have a combined revenue impact of USD2.7 million, and has led to MyCelx increasing its revenue forecast range for 2018 to USD16.0 million and USD17.0 million.
"We are delighted to announce another Saudi purchase order and the Australian equipment sale and to be able to improve our revenue forecast for the year. These developments reflect the company's continuing momentum that is underpinned by the combination of our client-focussed approach and the superior performance of our technology, which allows us to efficiently solve the water treatment challenges faced by our clients," said Chief Executive Officer Connie Mixon.
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