SNOX Sulnox Group PLC

TIDMSNOX

RNS Number : 3410Q

SulNOx Group PLC

28 June 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

28 June 2022

SulNOx Group Plc (the "Company" or "SulNOx")

Significant and repeat order with further potential in Germany

(Aquis Stock Exchange: SNOX)

The board of the directors of the Company (the "Board") is pleased to announce a further significant sale of its SulNOxEco(TM) Fuel Conditioner product to Swiss and German sales organisation "Swiss Fuel Services"("SFS"), a sub-distributor for A&S International ("A&S"). SFS focuses on selling products which achieve effective improvements on efficiency and emission values as well as sustainable reductions in fuel costs for both land transportation and open-sea vessels.

This order is another repeat order, following an initial order of 100 litres, SFS have now purchased an additional and significant c.1,000 litres of SulNOxEco(TM) Fuel Conditioner, following several successful product evaluations, including a 13.3% fuel saving over a 4,000km journey with a BMW 3 series 320d Touring inspected by TÜV SÜD (equivalent to DVLA in UK), and confirmed fuel savings on Mercedes Transporter trucks. The most important development however is that following on from "remarkable" results in testing with Wismar University in Germany (previously reported in error as Rostock University), SulNOx is now receiving incoming calls from major shipping companies looking to conduct evaluations for both the Berol 6446 Heavy Fuel Oil product and SulNOxEco(TM) product for Very Low Sulphur Fuel Oil and Marine Gas/Diesel Oil at scale.

SFS Head of Business Development Holger Güttinger, said of the additional order, "The SulNOx product range is extremely exciting for us. Following on from the successful automotive, trucking and University evaluations, our clients in the German retail sector, trucking and logistics companies are all very keen to evaluate the product and we are seeing considerable interest from large retail, transportation and shipping clients. With diesel prices exploding in Germany since the invasion of Ukraine and a strong focus on green credentials from German and Swiss Companies, we foresee these orders as merely the beginning and have an extremely strong business pipeline."

Ben Richardson, CEO of SulNOx commented, "Germany has always been a key target market for SulNOx and we are ecstatic at the progress Holger and the team are making. The scale of many of the opportunities under discussion would be transformational to SulNOx - a single shipping company with c.30 medium sized vessels would take SulNOx into profit - SFS has multiple, and some extremely large, opportunities at various stages of the sales cycle. With rising fuel prices, increasing Regulations and desire to meet ESG goals, many corporates are finally seeing the immediate and "easy to use" solutions to reduce fuel, maintenance costs and emissions that the SulNOx products can provide."

Angus MacDonald, MD of A&S added, "We have been working with the SulNOx team since March 2021 through COVID and Brexit and now with the ongoing Ukrainian crisis, oil price rises and continued China supply chain issues, which have all meant evaluations have been challenging to get underway and often prolonged in nature. What we are now experiencing is the uptick in sales and enquiries resulting from these very successful 3(rd) party and independent studies which proved the dramatic effectiveness of the SulNOx products at reducing consumption and emissions. Whilst Germany is leading the way, we expect additional orders from multiple countries near term."

For further information please contact:

 
 SulNOx Group plc                  Tel: 07624 491821 
  Steven Cowin, Chief Financial 
  Officer 
 
 Allenby Capital Limited           Tel: 020 3328 5656 
  (AQSE Corporate Adviser) 
  Nick Harriss / John Depasquale 
 

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