THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
28 July 2022
SulNOx Group Plc (the "Company" or "SulNOx")
Appointment of New Distributor
Encouraging initial sales and revenue
(Aquis Stock Exchange: SNOX)
The board of directors of the Company (the "Board") is very pleased to announce that Hestia has become an Independent Sales Organisation ("ISO") for SulNOx and has already bought >250 litres of SulNOx with further orders confirmed.
Initial SulNOx orders are for use onboard several superyachts, each >70m in length. There are estimated to be c.10,000 superyachts (>24m in length) worldwide, most frequently found in the Mediterranean and
Craig Morris and Jean-François Morlot at Hestia commented, "The size of the opportunity with SulNOx is immense. Every day superyachts journey along the Mediterranean coast, and aside from their regular over 100,000-litre fuel refills, each costing c.
Jimmy Redman, SulNOx inventor and MD of SulNOx Fuel Fusions added, "We are greatly encouraged by the sales and opportunities Hestia has already brought in the superyacht space. Hestia has some established long-term relationships with the captains, engineers and management companies, who are excited by SulNOx's proven mechanical benefits and fuel savings from evaluations on ships with similar engines. We look forward to a long and fruitful relationship with the Hestia Team."
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For further information please contact:
SulNOx Group plc
Tel: 07624 491 821
Allenby Capital Limited
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
Tel: 020 3328 5656