SulNOx successfully debuted on the Aquis Stock Exchange Growth Market (name changed from the NEX Exchange) on 17th
A similar system has been developed for deployment in coal-fired power stations which use substantial quantities of HFO as part of the fuel ignition process. The SulNOx delivery system is perfectly suited to power stations with their relatively simple combustion system and the anticipated benefits could be substantial.
In terms of these bulk users of HFO, the Company had been in discussions with a shipping company and a company with fossil fuel power station interests. Unfortunately, progress has been markedly slower than anticipated to bring these discussions to fruition and, in February, the Board decided to broaden its marketing efforts to other potential customers.
The Company's second product, a Diesel conditioner, works without the need to add additional water and is aimed at large scale Diesel users.
The board had anticipated selling this product through a major
The COVID-19 outbreak has led to a delay to the engine trial discussions and certain other marketing initiatives due to the Company's inability to freely move staff and equipment. This unprecedented event and resulting lack of visibility has led the board to take an even more prudent approach to the Company's operations and cash preservation. A further announcement will be made in relation to this position once clarity is restored,
Notwithstanding all of the above, the Directors remain confident about the efficacy of the Company's technology and methodology. The Company continues to be active in marketing and promoting the benefits of its products to customers.
In other developments; the Company has submitted its patent application to include worldwide PCT (Patent Cooperation Treaty) application and it is recognised that this process will require a number of years to conclude. In addition during the period the Company entered into agreements with customer, distribution and business development companies in the
Aquis Stock Exchange Corporate Adviser:
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The directors take responsibility for this announcement.
SulNOx, www.sulnoxgroup.com, has developed a hydrocarbon fuels conditioning and emulsifying process which enables more efficient fuel combustion, potentially leading to reduced fuel consumption and significantly lowered emissions.
This information is provided by RNS, the news service of the