SulNOx Group PLC Trading Statement (8092A)
07 February 2022 - 5:59PM
UK Regulatory
TIDMSNOX
RNS Number : 8092A
SulNOx Group PLC
07 February 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
7 February 2022
SulNOx Group Plc (the "Company" or "SulNOx")
Trading Update
(Aquis Stock Exchange: SNOX)
SulNOx, the fuel decarbonisation specialists, announces a
trading update ahead of further potential investor meetings
including "UK Investor Magazine and Aquis Stock Exchange"
tomorrow.
Key Highlights:
-- Trading on US OTC Market - We are pursuing an admission to
trading for SulNOx shares on the OTC Market in the USA, which would
provide instant access to US investors who are currently unable to
invest in the Company. Not only will this place SulNOx shares on a
US stock market, but it will also help drive our brand recognition
as we continue to drive growth, with the US being a major target
market for the Company.
-- B-Corp status - Internal assessment successfully concluded
and intention to now apply for B-Corp certification given the
benefit of SulNOx to the global economy, health and global
de-carbonisation whilst also expecting to attract further US ESG
investors.
-- Further certification underway:
o In addition to Bureau Veritas certification for
petrol/diesel/biofuels in Europe and the USA, SulNOx also expects
an Indian certification imminently.
o SulNOx is also engaging Lloyds Register (a Classification
Society) to certify inter alia fuel types, including very low
sulphur fuel oil (VLSFO) which accounts for some 70% of global
shipping consumption, with SulNOx products applied, thereby
potentially opening up significant further opportunities.
-- Transport Select Committee (TSC) Response - SulNOx formally
responded to the TSC, nominated by the House of Commons, regarding
the UK Government's future fuel policy and sustainability targets.
SulNOx highlighted our new, risk-free, route to immediately
contributing to decarbonising the UK's hydrocarbon liquid fuel
consumption with significant environmental and economic benefits,
delivering on the committed decarbonisation targets by decreasing
UK road emissions equivalent to removing 5 million cars from the
roads. This potential impact was recently published across UK
mainstream media. SulNOx is also in discussion with the National
Health Service (NHS) and Japan External Trade Organization (JETRO)
procurement departments.
-- Number of distributors and introducers doubled : We now have
in excess of 40 distributors and introducers globally (at the date
of our previous update, we had c.20) including a significant new
distributor in India to coincide with new certification in this key
market, and new relationships in Australia, Chile and Nigeria.
o A&S International - opening up key new markets in the
Philippines and demonstrating successful evaluations in Indonesia,
the USA and Greece with significant opportunities under discussion
in Germany.
o ElimiNOX -Shrewsbury based distributor is now selling up to
100 litres of SulNOx per week with significant repeat business and
is also expanding its footprint into Wales.
o RemNOx - finding repeat business amongst taxi firms and
prestige cars
-- Client pipeline growth: Increased significantly to now in
excess of 750 potential customers (c.600 at the time of our
previous update, and 3x when our new capital was raised in July
2021). We hope to announce successes with some extremely large,
household names in the near term - although, given the competitive
advantage from typical fuel savings of 8-10%, associated publicity
is not always permitted.
-- Marine evaluations - continued success with evaluations
demonstrating c.19% increased power and c.16% more torque -
evidencing significant fuel efficiencies for shipping fleets.
Decreased engine and exhaust temperature tangibly demonstrate
healthier running engines.
-- New products - SulNOxEco(TM) Oil Reclaimer: Significant and
continued interest from two new products which enable waste oil to
become useable, enhanced with lubricity, and stabilised fuel:
1. Separation of heavier fuels including Heavy Fuel Oil (HFO),
chain oil or crude oil waste where the slops are c.70% water.
2. Stabilisation of Lighter fuels e.g. MGO and MDO waste with c.
5% water which is emulsified for longer than the fuel itself is
viable.
-- Amazon update - whilst go-live is now targeted for the end of
February, we have engaged an expert agency to maximise traffic to
and chance of success from the launch and spread the roll out to
other countries.
- 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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