10 May 2022
SulNOx Group Plc (the "Company" or "SulNOx")
LocoSoco and SulNOx to Further Develop Partnership
(Aquis Stock Exchange: SNOX)
SulNOx is pleased to announce that it has agreed to further develop its relationship with LocoSoco Group Plc ("LocoSoco"). LocoSoco, which is listed on the Direct Market segment of the Vienna MTF, promotes eco-friendly, sustainable and ethically sourced products & services. LocoSoco become an Independent Sales Organisation for the SulNOx in November 2021, and both companies have now agreed to develop their partnership further in the area of plastic and tyre recycling.
LocoSoco have been working over the last six months to develop route to market strategies and promote SulNOx's biodegradable fuel and emulsification technologies across its multi sector network of consumer and business customers to reduce their emissions by yielding higher fuel efficiencies. SulNOx help to solve the global challenge of reducing reliance on fossil fuels and its technologies can go beyond reducing emissions where fuels are combusted and into other areas including turning waste, as an alternative source of hydrocarbons, into useful products.
Separately, LocoSoco have been progressing waste conversion projects to convert tyres and plastic waste into high value oils and carbon black, and SulNOx will now join these efforts in order to help to derive greater yields and produce high quality fuels that meet regulatory requirements.
LocoSoco CEO James Perry commented, "The team at SulNOx share our values and vision for sustainability, there is no quick fix to the problems industry and our planet face however working together we are able to develop supply chains that begin to reduce the dependence on the global markets by utilising local waste as a new fuel source, doing so reduces the environmental burden of drilling for fossil fuels until the market is able to adopt zero emission fuel sources."
Ben Richardson the CEO of the SulNOx Group commented, "The core technologies of SulNOx have diverse potential applications including converting waste, which is often problematic to the environment and ecosystems, into useful products. Over 350m tonnes of plastic a year are produced globally which is due to triple by 2050 and billions of tyres are scrapped each year, which will still likely remain a problem even with the uptake of cleaner transportation. We are excited to play a part in the growing waste conversion sector and expand on the ability of SulNOx technologies to help solve global problems.
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For further information please contact:
SulNOx Group plc
Allenby Capital Limited
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
Tel: 020 3328 5656
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