MYCELX Technologies Corporation (LSE:MYX) shares moved up, rising 15.4% to 52.5p, after the company said it had won a lease contract with a super major for offshore produced water treatment in the Gulf of Mexico.
The lease has commenced and covers rental of MYCELX's proprietary produced water treatment equipment for offshore operations, generating recurring monthly rental revenue and anticipated significant recurring filtration media sales, MYCELX, the clean water and clean air technology company, said.
"This award reflects the growing industry recognition of MYCELX's differentiated produced water treatment technology and our proven offshore operating track record," said Connie Mixon, CEO.
The Board said the contract is the company's third offshore produced water treatment award in the Gulf of Mexico and underpins its current FY2026 market expectations while reflecting continued momentum in its core Produced Water treatment business.
Management noted the FY2026 contribution is contingent on overall media use in the current financial year and that the arrangement supports its strategy to grow higher-quality recurring revenue through equipment leases and ongoing media sales.
