SulNOx Group PLC AGM Statement & First and Major Train Evaluation (9334Z)
20 September 2022 - 8:00AM
UK Regulatory
TIDMSNOX
RNS Number : 9334Z
SulNOx Group PLC
20 September 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310 .
The directors take responsibility for this announcement.
20 September 2022
SulNOx Group Plc (the "Company" or "SulNOx")
AGM Statement
First and Major Train Evaluation
(Aquis Stock Exchange: SNOX)
AGM Statement
At the annual general meeting of the Company (the "AGM") to be
held later today, Ben Richardson, CEO, will make the following
update.
"The Company is beginning to see significant traction in the
sales of its SulNOxEco(TM) Fuel Conditioner product and is
discussing an order for its Berol 6446 product for oil reclamation
following successful laboratory trials on 4 waste oil types. During
the year to 31 March 2022, sales were GBP34k, which, while almost
double the previous year, were still very low. During the first
quarter of the current year, we achieved sales equivalent to the
entire year that preceded it, and in the current quarter, we are
anticipating sales to be more than double of those for the first
quarter, resulting in sales for the first half of the year to be on
target to be in excess of GBP100k.
We have announced the most significant of these sales over
recent weeks, including the latest of these today. These have been
achieved across different business sectors (notably haulage and
shipping) and locations (across Europe, Asia, Africa and the
Americas). While it would be presumptuous to say that this increase
in sales will continue at this rate without interruption, the
number and scale of enquires and positive evaluation results give
us scope for encouragement."
Major Train Evaluation
The board of the directors of the Company (the "Board") is also
very pleased to announce the start of a new large-scale paid
evaluation of its SulNOxEco(TM) Fuel Conditioner product with a
major international rail company consuming some 10,000 Tonnes of
diesel per annum.
The Grampet Group ("Grampet") is formed by 18 companies grouped
by activity domains: operators of rail transport involving cargo,
logistic, construction, repairs and maintenance of rolling stock
and IT services. Annually, Grampet transport approximately 22
million tonnes of freight, 20% internationally, through a fleet of
20,000 wagons and 400 locomotives, with railway freight companies
operating in Austria, Bulgaria, Croatia, Germany, Greece, Hungary
Moldova, Romania, Serbia, and Slovakia.
Grampet is already evaluating the SulNOxEco(TM) Fuel Conditioner
in 3 locomotives in Romania using some 40,000 litres of fuel per
month, with a view to extending the use of SulNOx to all
locomotives in the fleet.
Sorin Chinde, Vice President of the Transports division of
Grampet Group, said of the evaluation: "Whilst rail is already much
more environmentally friendly than other modes of transport, and we
actively encourage the return to more railway usage, Grampet
services also continue to encourage further sustainability
initiatives as a part of our continuous optimisation programmes. We
are delighted to be trialling the SulNOx product which could pave
the way for a rapid and significant reduction in our fleet
emissions."
Ben Richardson the CEO of SulNOx commented, "We are very pleased
to be partnering with Grampet and helping them to further their
sustainability priorities. A freight train will consume some 8
litres of diesel fuel per kilometre travelled vs a car which is
around 0.06 litres, so it is a significant opportunity for SulNOx
to become a further, immediate global solution in a sector of
transportation which is heavily reliant on diesel. SulNOx is able
to provide an immediate solution in terms of better fuel economy
and reduced emissions to a sector that is a major consumer of
diesel."
- Ends -
For further information please contact:
SulNOx Group plc steven.cowin@sulnoxgroup.com
Steven Cowin, Director
Allenby Capital Limited Tel: 020 3328 5656
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
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