SulNOx Group PLC - Third Quarter Trading Update
Announcement provided by
SulNOx Group Plc · SNOX05/02/2025 07:00

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
5 February 2025
SulNOx Group Plc
(the "Company" or "SulNOx")
Trading Update: Quarterly sales more than doubled year-on-year
(Aquis Stock Exchange: SNOX)
SulNOx, the greentech innovation company helping industry reduce emissions, lower fuel costs and meet sustainability targets, is pleased to announce its third quarter trading update.
Q3 2024/5 Trading Update (1 October to 31 December)
Revenue
· Sales of
· Sales fulfilled and booked in the current quarter to date of
Volume
· Volume of product sold increased by 88.7% compared to the same quarter in the prior year
Cash Balance
· Unaudited cash balance of
Trading Highlights during the quarter
· Patent granted in
· First sale to new distributor FHIL in
· Strengthening of the team with the hire of a Head of Marketing and Communications, along with a Commercial Analyst
· New funding of
· Funds will be deployed to:
o Bolster stock for supply due to increased demand, and invest in new stock locations which are underway
o Expand the Commercial team in order to drive further sales
o Invest in further research and development
Post-quarter end
· Eastern Pacific Shipping Pte Ltd, (EPS) one of the world's largest privately-owned shipping companies, agrees investment in SulNOx and major new product supply contract adopting the product on a minimum of 30 vessels
· Crystal Cruises, the leader in exceptional cruise experiences, adopts SulNOxEco
· Oil reclamation patent granted in
Shipping Update
Maritime sector interest continues to gather momentum with several fleets now repeating orders and expanding use. Following the EPS adoption announcement, a considerable number of enquiries have been received.
Today, 44 (Q3 2023/4: 35) shipping companies are evaluating the product or expanding its use across their combined fleet size of c.4,800 (4,500) vessels. The pipeline remains very strong with 65 additional shipping companies in discussion to begin evaluations, which we expect to convert to revenue in the coming quarters.
SulNOx has also begun marketing its products in the
Radu Florescu, Chairman of SulNOx Group, commented:
"Q3 has delivered further strong growth in revenue and sales volumes and we are particularly encouraged by the Company's ability to attract very significant new strategic partners and investors. These parties are well placed to help us accelerate our sales cycle and extend our reach to new markets. Trading in Q4 has made an excellent start and we look forward to announcing further positive developments in the remainder of the period."
- Ends -
For further information please contact:
|
SulNOx Group plc Alex Judd, Head of Marketing & Communications |
|
|
|
Allenby Capital Limited (AQSE Corporate Adviser) Nick Harriss / John Depasquale |
Tel: 020 3328 5656 |
|
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.