SulNOx Group PLC - Appointment of New Distributor
RNS Number : 9740T
SulNOx Group PLC
28 July 2022
 

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.

Based in Monaco, Hestia work with disruptive Greentech companies from around the world to improve the quality of air, resulting in decarbonisation, reduction in CO2, killing viruses, bacteria and mould.

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 Caribbean depending on the season. According to Superyacht.com, an average 70-meter superyacht will burn around 130 gallons (500 litres) of diesel per hour with the engines running, while the amount increases significantly when the ship is moving. Hestia are already active in multiple ports across the Mediterranean including Monaco, Genoa, Nice, Antibes and further afield and are seeing traction to reduce the particulate matter emissions on superyachts and other commercial vessels, with Port Authorities also increasingly concerned by pollution and looking for solutions around emissions reductions.

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.$300,000, owners and their chartering clients are increasingly demanding the improved air quality afforded by SulNOx."

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."

- Ends -

  

For further information please contact:

 

SulNOx Group plc
Steven Cowin, CFO

 

Tel: 07624 491 821




Allenby Capital Limited

(AQSE Corporate Adviser)

Nick Harriss / John Depasquale

Tel: 020 3328 5656

 

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