SulNOx Group PLC Q1 Trading Update (7849Q)
June 30 2022 - 1:30AM
UK Regulatory
TIDMSNOX
RNS Number : 7849Q
SulNOx Group PLC
30 June 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
30 June 2022
SulNOx Group Plc (the "Company" or "SulNOx")
Trading Update - Q1 Revenues already similar to full year
2022
(Aquis Stock Exchange: SNOX)
SulNOx, the fuel decarbonisation specialists, announces a
trading update ahead of "UK Investor Magazine" event tonight.
Key Highlights:
-- Revenue for Q1 of our current financial year is already at a
similar level to the revenue booked in the Full Year 2022
(unaudited) as our direct and distributor sales gather
momentum.
o SulNOx have now generated revenues from sales in 12 countries:
Australia, Barbados, Belgium, France, Germany, Ghana, Greece,
Monaco, South Africa, Turkey, United Kingdom and United States of
America.
o Revenues agreed but not yet booked or under discussion in 7
additional countries.
o Retail clients: Amazon now live and sales building along with
our online shop on the SulNOx website.
o USA: Very strong interest from, and several evaluations agreed
with, large corporations.
-- Distributors and Introducers - total number of distributors
and introducers now 56 - up from c.40 in February - with multiple
others in new and important geographies under discussion.
o UK distributor ElimiNOX was the winner of a prestigious
industry innovation award from the UK and Ireland Fuel Distribution
Association ("UKIFDA") for "innovative fuel conditioners",
developed by SulNOx Group Plc. ElimiNOX has also sold considerable
product volumes to South Africa and appointed an exclusive
sub-distributor in the USA with anticipated minimum annual purchase
targets starting at $500,000 per year, rising annually over a
period of 5 years to a minimum of $5 million.
-- Sales cycle shortening following successful testing and
evaluations: Most orders are now paid evaluations or repeat
purchases following successes across various industry sectors and
vehicle types including:
o Automotive success - 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 ).
o Van success - 6.5% fuel saving on a company fleet.
o Bus success - 9% fuel saving on regular bus route of E&M
Horsburgh.
o Trucks - 8% fuel savings on a variety of makes but also
maintenance savings and success from stabilizing fuels across
Africa with Zanospan (previously named as Zanotrans in error).
o Loader success - up to 10% using biofuels.
o Shipping success - over 19% power and 15% torque improvement
with additionally "remarkable" results in testing with Wismar
University in Germany and building sales in leisure boats. The
shipping pipeline is now incredibly strong with c. 25 significant
evaluations expected to begin in the coming 6-9 months as the
industry looks for solutions for incoming regulations and ongoing
high fuel costs.
o Additional opportunities continue to progress with inter alia.
train companies, power stations, and refiners / fuel distributors
of significant scale.
PR update - Successful article in The Times Raconteur supplement
with several other articles in mainstream press including The Sun,
The Express and many magazines and journals. Total readership is
now >26million from our articles.
- 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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