MyCelx Technologies Reports 2024 Results and Strategic Shift

MyCelx Technologies ( (GB:MYX) ) has issued an announcement.

MyCelx Technologies Corporation reported a decline in revenue for 2024 due to the sale of its Saudi Arabian operations, but managed to reduce its EBITDA loss and improve cash reserves through a successful fundraise. The company made significant progress in its core markets of PFAS remediation and produced water treatment, securing important contracts and partnerships. The sale of its Saudi operations allowed MyCelx to focus on high-margin sectors, and the company is poised for growth as it aligns with industry trends towards environmental sustainability and regulatory compliance. The PFAS market, in particular, is expected to become a significant revenue stream as awareness and regulatory actions increase.

More about MyCelx Technologies

MyCelx Technologies Corporation operates in the clean water and clean air technology industry, focusing on providing solutions for PFAS remediation and produced water treatment. The company is known for its proprietary technologies that deliver cost-efficient and environmentally friendly outcomes, with a market focus on large-scale, global sectors in need of effective technology solutions.

Average Trading Volume: 27,527

Technical Sentiment Signal: Sell

Current Market Cap: £5.29M

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