SulNOx Group PLC - Agreement in Ghana for SulNOxEco Fuel Conditioner
RNS Number : 7476E
SulNOx Group PLC
15 March 2022
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

 

15 March 2022

SulNOx Group Plc (the "Company" or "SulNOx")

New Agreement in Ghana for SulNOxEco™️ Fuel Conditioner

(Aquis Stock Exchange: SNOX)

SulNOx, the fuel decarbonisation specialists, is pleased to announce new large-scale evaluations of its SulNOxEco™️ Fuel Conditioner product in Africa, partnering with Nationwide Technologies Limited ("NTL"), one of Ghana's leading haulage companies J. K. Horgle ("JKH"), and several independent stakeholders in the transport sector.

An initial order of 2,000 litres of SulNOxEco™️ Fuel Conditioner, which treats 4 million litres of diesel, has been purchased demonstrating SulNOx's successful African strategy. NTL will leverage its longstanding ties with several clients across multiple countries and sectors with significant fossil fuel consumption. 

NTL is part of the Nationwide Group, one of Ghana's largest business services groups, operating in a number of industry segments including the downstream fuel distribution sector and is also a renowned specialist provider of Fuel Marking solutions ("Nationwide"). NTL has already demonstrated meaningful results from small scale evaluations of the SulNOx product and is now embarking on a significant, expanded product validation aiming to deliver significant fuel cost savings and emissions reductions to consumers in Ghana. SulNOxEco™️ Fuel Conditioner will be validated for use in JKH's large fleet of c.500 articulated trucks and other vehicles is estimated to save close to $0.25m per annum when the SulNOx product is adopted across its fleet. Nationwide also intends to introduce the product to various industries including mining and shipping in Ghana and the sub-region. Nationwide will use the SulNOxEco™️ Fuel Conditioner ordered to support its marketing efforts.

Nationwide Group CEO, Mr. Frank Osei, said of the partnership, "As a business focused on providing results driven solutions, sustainability and decarbonisation are things we care passionately about. We believe that sustainability is one of the foundations of successful economic development and as such forms a critical element of our efforts to minimise the adverse impact of industry. We are delighted to be expanding our evaluations of the SulNOx product which could pave the way for significant cost and emissions reduction in the country."

Ben Richardson, CEO of SulNOx commented, "We are very pleased to be partnering with Nationwide and helping them tackle some of their biggest priorities. The climate emergency is a health emergency and with air pollution killing more people in Ghana than malaria and AIDS combined, SulNOxEco™️ Fuel Conditioner is an immediate solution to dramatically cut deadly particulate matter emissions currently at 12x the WHO's air quality guideline in Accra. By using SulNOx in vehicle fleets across the West Africa sub-region, we will be further demonstrating the global reach, versatility and importance of our green technologies in providing sustainable solutions."

With the potential to reduce particulate matter by 50-60% and greenhouse gases including carbon dioxide by c. 200 grams for every litre of diesel from using the SulNOxEco™️ Fuel Conditioner, Dr. Andrew Boye, Head of Authentication Services at NTL, adds, "We are really excited about the prospect of the introduction to the market of the SulNOxEco product as it would help reduce carbon emissions which is presently quite high. Ghana's capital, Accra, is currently ranked the 3rd worst polluting city on the continent of Africa. Mr. Michael Savage, Head of the Fuel Marking and Product Integrity program at NTL is also optimistic that the partnership with SulNOx will deliver an efficient and effective product that will help improve the health and environmental credentials of our industry. "

- 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

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NEXBZLLFLXLLBBD ]]>