SulNOx Group PLC Collaboration Agreement (9880H)
09 Dezember 2020 - 8:00AM
UK Regulatory
TIDMSNOX
RNS Number : 9880H
SulNOx Group PLC
09 December 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The directors take
responsibility for this announcement.
9 December 2020
SulNOx Group Plc (the "Company" or "SulNOx")
Collaboration Agreement
(Aquis Stock Exchange: SNOX)
The board of the directors of the Company (the "Board") is
pleased to announce that it has entered into a collaboration
agreement with Rigworld Group, a Ghanaian based, pan-African
diversified oil and gas services business ("Rigworld"). This
collaboration will involve the marketing of SulNOx's Fuel
Conditioner and Heavy Fuel Emulsifier products throughout Africa,
as well as further developing the products to suit local conditions
(the "Collaboration Agreement").
Rigworld has identified significant opportunities for SulNOx's
Fuel Conditioner product within Africa, due to its proven ability
to reduce fuel consumption, maintenance costs and toxic emissions.
In particular, Rigworld has identified the mining industry as its
initial target market, with its extensive use of diesel-powered
heavy machinery and generators, as well as the connected transport
operators by road, rail and sea. The potential savings that
SulNOx's Fuel Conditioner product offers Africa's mining industry
have been identified by Rigworld as significant, while the reduced
emissions are equally important.
In addition, Rigworld believes that SulNOx's Heavy Fuel
Emulsifier product has significant potential for sales to operators
of oil pipelines, where its ability to reduce the viscosity of
crude will increase flow rates and reduce pumping costs, both in
terms of money and emissions.
As part of the Collaboration Agreement, the Board has invited
Rigworld to propose a candidate to join the Board. Rigworld's own
press release on the Collaboration Agreement can be viewed on the
Company's website at -
https://sulnoxgroup.com/news/rigworld-group-announces-collaboration-with-sulnox
.
The Board will provide further updates on progress with the
Collaboration Agreement as the marketing efforts roll out.
Radu Florescu, CEO, Commented, "This is a major step in the
globalisation of the SulNOx proprietary technology into the
Continent of Africa, which has always been a strategic focus of the
Company.
The Board are delighted to work with such a strong Oil Service
business as Rigworld, who have contacts with many of the largest
oil and shipping companies across the globe and who are also keen
to drive the green revolution in Africa. We view this Collaboration
Agreement will be a team enterprise, and look forward to a new
colleague from Rigworld joining the Board in the future ."
Enquiries:
SulNOx Group Plc
Tony Granger, Non-Executive tony.granger@sulnoxgroupplc.com
Chairman
Media and Investors :
Flagstaff Strategic and Investor sulnox@flagstaffcomms.com
Communications 020 7129 1474
Tim Thompson / Fergus Mellon
----------------------------------
AQSE Corporate Adviser :
Allenby Capital Limited
Nick Harriss / John Depasquale
/ James Hornigold 020 3328 5656
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END
NEXEAPAPEDSEFFA
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