SulNOx Group PLC - Seanergy partners with SulNOx to reduce emissions

12 March 2024

SulNOx Group Plc 

(the "Company" or "SulNOx")

Seanergy partners with SulNOx to pilot Eco fuel conditioner to reduce emissions.

Major Greek-based marine services company to trial SulNOxEcoTM Fuel Conditioner in its fleet

(Aquis Stock Exchange: SNOX)

Seanergy Maritime Holdings Corporation ("Seanergy"), the Greek-based dry bulk shipping group, has agreed to pilot SulNOxEco^TM Fuel Conditioner, developed by the UK's SulNOx Group PLC. The pilot highlights Seanergy's stated mission to reduce shipping emissions cost-effectively through advanced technical and operational measures.

Seanergy's operating fleet consists of 17 vessels (1 Newcastlemax and 16 Capesize), with an average age of approximately 12.8 years and an aggregate cargo carrying capacity of 3,054,820 dwt. Publicly listed in the US on the Nasdaq market, Seanergy is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece.

Seanergy has released an ESG report outlining the company's strategy and commitments and reflect Seanergy's performance using sustainability-related Key Performance Indicators (KPIs) in accordance with the Global Reporting Initiative (GRI 2021) Standards and follows the Sustainability Accounting Standards Board (SASB) guidelines for Marine Transportation.

 SulNOxEco^TM Fuel Conditioner is made from natural, biodegradable ingredients and provides an immediate solution to the shipping sector to reduce fuel consumption, emissions and pollution from widely used hydrocarbon liquid fuels. The products emulsify water, increase lubricity and oxygen availability to fuel, making it burn cleanly and more efficiently.

SulNOx has made very significant progress in recent shipping trials showing c. 5%+ consumption reductions with other operators piloting SulNOxEco^TM fuel conditioner. Greek group Spring Marine is also looking to adopt SulNOx products in its fleet to reduce fuel consumption and cut emissions. Marfin Management has expanded its trial after initial tests cut bunker consumption by more than 6% and its CEO has since joined the board of SulNOx. Overall, SulNOxEcoTM is currently in active trials or in discussions for trials with companies representing close to 6,000 vessels.

Commenting on the Seanergy pilot, Ben Richardson, CEO of SulNOx Ltd., said:

"Seanergy is a hugely respected global shipping company that is serious about sustainability and adopting innovative technologies to reduce carbon emissions. Seanergy recognises that efficiency is key in the industry's transition to 'net zero' and we are pleased to be part of the drive to find the most impactful solutions."

Stamatis Tsantanis, Seanergy's Chairman & Chief Executive Officer, said:

"We are proactive in exploring technical initiatives that will position Seanergy as a leader in shaping a greener maritime industry. SulNOx has proven, compliant solutions that may be quickly deployed to help meet environmental targets and broader ESG milestones, and we look forward to working together to further reduce the emissions of our fleet."

ENDS

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