THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
7 February 2022
SulNOx Group Plc (the "Company" or "SulNOx")
(Aquis Stock Exchange: SNOX)
SulNOx, the fuel decarbonisation specialists, announces a trading update ahead of further potential investor meetings including "
· Trading on US OTC Market - We are pursuing an admission to trading for SulNOx shares on the OTC Market in the
· B-Corp status - Internal assessment successfully concluded and intention to now apply for B-Corp certification given the benefit of SulNOx to the global economy, health and global de-carbonisation whilst also expecting to attract further US ESG investors.
· Further certification underway:
o In addition to Bureau Veritas certification for petrol/diesel/biofuels in
o SulNOx is also engaging Lloyds Register (a Classification Society) to certify inter alia fuel types, including very low sulphur fuel oil (VLSFO) which accounts for some 70% of global shipping consumption, with SulNOx products applied, thereby potentially opening up significant further opportunities.
· Transport Select Committee (TSC) Response - SulNOx formally responded to the TSC, nominated by the House of Commons, regarding the
· Number of distributors and introducers doubled: We now have in excess of 40 distributors and introducers globally (at the date of our previous update, we had c.20) including a significant new distributor in
o A&S International - opening up key new markets in
o ElimiNOX -
o RemNOx - finding repeat business amongst taxi firms and prestige cars
· Client pipeline growth: Increased significantly to now in excess of 750 potential customers (c.600 at the time of our previous update, and 3x when our new capital was raised in July 2021). We hope to announce successes with some extremely large, household names in the near term - although, given the competitive advantage from typical fuel savings of 8-10%, associated publicity is not always permitted.
· Marine evaluations - continued success with evaluations demonstrating c.19% increased power and c.16% more torque - evidencing significant fuel efficiencies for shipping fleets. Decreased engine and exhaust temperature tangibly demonstrate healthier running engines.
· New products - SulNOxEcoTM Oil Reclaimer: Significant and continued interest from two new products which enable waste oil to become useable, enhanced with lubricity, and stabilised fuel:
1. Separation of heavier fuels including Heavy Fuel Oil (HFO), chain oil or crude oil waste where the slops are c.70% water.
2. Stabilisation of Lighter fuels e.g. MGO and MDO waste with c. 5% water which is emulsified for longer than the fuel itself is viable.
· Amazon update - whilst go-live is now targeted for the end of February, we have engaged an expert agency to maximise traffic to and chance of success from the launch and spread the roll out to other countries.
- Ends -
For further information please contact:
SulNOx Group plc
Allenby Capital Limited
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
Tel: 020 3328 5656