SulNOx Group PLC - Trading Statement
RNS Number : 8092A
SulNOx Group PLC
07 February 2022
 

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")

Trading Update

(Aquis Stock Exchange: SNOX)

SulNOx, the fuel decarbonisation specialists, announces a trading update ahead of further potential investor meetings including "UK Investor Magazine and Aquis Stock Exchange" tomorrow.

Key Highlights:

·    Trading on US OTC Market - We are pursuing an admission to trading for SulNOx shares on the OTC Market in the USA, which would provide instant access to US investors who are currently unable to invest in the Company.  Not only will this place SulNOx shares on a US stock market, but it will also help drive our brand recognition as we continue to drive growth, with the US being a major target market for the Company.

·    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: 

In addition to Bureau Veritas certification for petrol/diesel/biofuels in Europe and the USA, SulNOx also expects an Indian certification imminently.

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 UK Government's future fuel policy and sustainability targets. SulNOx highlighted our new, risk-free, route to immediately contributing to decarbonising the UK's hydrocarbon liquid fuel consumption with significant environmental and economic benefits, delivering on the committed decarbonisation targets by decreasing UK road emissions equivalent to removing 5 million cars from the roads. This potential impact was recently published across UK mainstream media. SulNOx is also in discussion with the National Health Service (NHS) and Japan External Trade Organization (JETRO) procurement departments.

·    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 India to coincide with new certification in this key market, and new relationships in Australia, Chile and Nigeria.

A&S International - opening up key new markets in the Philippines and demonstrating successful evaluations in Indonesia, the USA and Greece with significant opportunities under discussion in Germany.

ElimiNOX -Shrewsbury based distributor is now selling up to 100 litres of SulNOx per week with significant repeat business and is also expanding its footprint into Wales.

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
Steven Cowin, Director

 

steven.cowin@sulnoxgroup.com



Allenby Capital Limited

(AQSE Corporate Adviser)

Nick Harriss / John Depasquale

 

Tel: 020 3328 5656

 

 

 

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