SulNOx Group PLC Appointment of New Distributor (9740T)
28 Juli 2022 - 8:00AM
UK Regulatory
TIDMSNOX
RNS Number : 9740T
SulNOx Group PLC
28 July 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
28 July 2022
SulNOx Group Plc (the "Company" or "SulNOx")
Appointment of New Distributor
Encouraging initial sales and revenue
(Aquis Stock Exchange: SNOX)
The board of directors of the Company (the "Board") is very
pleased to announce that Hestia has become an Independent Sales
Organisation ("ISO") for SulNOx and has already bought >250
litres of SulNOx with further orders confirmed.
Based in Monaco, Hestia work with disruptive Greentech companies
from around the world to improve the quality of air, resulting in
decarbonisation, reduction in CO2, killing viruses, bacteria and
mould.
Initial SulNOx orders are for use onboard several superyachts,
each >70m in length. There are estimated to be c.10,000
superyachts (>24m in length) worldwide, most frequently found in
the Mediterranean and Caribbean depending on the season. According
to Superyacht.com, an average 70-meter superyacht will burn around
130 gallons (500 litres) of diesel per hour with the engines
running, while the amount increases significantly when the ship is
moving. Hestia are already active in multiple ports across the
Mediterranean including Monaco, Genoa, Nice, Antibes and further
afield and are seeing traction to reduce the particulate matter
emissions on superyachts and other commercial vessels, with Port
Authorities also increasingly concerned by pollution and looking
for solutions around emissions reductions.
Craig Morris and Jean-François Morlot at Hestia commented, "The
size of the opportunity with SulNOx is immense. Every day
superyachts journey along the Mediterranean coast, and aside from
their regular over 100,000-litre fuel refills, each costing
c.$300,000, owners and their chartering clients are increasingly
demanding the improved air quality afforded by SulNOx."
Jimmy Redman, SulNOx inventor and MD of SulNOx Fuel Fusions
added, "We are greatly encouraged by the sales and opportunities
Hestia has already brought in the superyacht space. Hestia has some
established long-term relationships with the captains, engineers
and management companies, who are excited by SulNOx's proven
mechanical benefits and fuel savings from evaluations on ships with
similar engines. We look forward to a long and fruitful
relationship with the Hestia Team."
- Ends -
For further information please contact:
SulNOx Group plc Tel: 07624 491 821
Steven Cowin, CFO
Allenby Capital Limited Tel: 020 3328 5656
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
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END
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