At the Company’s annual general meeting (“AGM”) to be held later today, the board of directors of the Company (the “Board”) will provide shareholders with the following update on the Company.
The Company’s customer base continues to grow as the new direct sales operation, funded by the recent placing of new shares (the “Placing”), matures, with sales to circa 200 clients in just over 1 month since inception with several larger trials under discussion. We expect these efforts to be boosted significantly with the forthcoming addition of SulNOx products to the Amazon platform. Our Scottish Distributor, RemNOx, also continues to expand their retail footprint with around 175 stockists having sold to circa 500 customers in recent months. Other independent sales organisations (“ISO”) and their sub-distributors also continue to add trials and orders despite the summer hiatus – total trials proposed or underway are now over 80, up from 58 in July. We also have several new ISO expected to be announced in the near term including a significant partner in the USA.
In line with the previous statements around the use of proceeds from the Placing, the Company has also commenced the national phase entry of the patent process with patents being filed in around 80 countries in the coming months and is progressing a potential future patent in the oil reclamation space.
At the recent event we welcomed 25 guests including representatives from 7 ISO to drive sales forward in the coming months among small, medium and larger organisations across the transportation, logistics, biofuel/hydrotreated vegetable oil and shipping sectors globally. The company also welcomed, and is pleased to confirm, Nathan Rous as our Public Relations and Public Affairs partner to improve brand awareness. SulNOx is currently promoting our eco-petrol fuel conditioner as the solution to E10 fuel issues recently front and centre in the news. We also now have a new corporate brochure (see https://sulnoxgroup.com/) and a series of product and sector flyers planned for release in the coming months. We also hope to have a significant presence at COP 26 in November 2021.
The Company has also continued to make critical hires with the forthcoming appointment of Lord Nicholas Fairfax as Non-Executive Director. Lord Fairfax has had a long career in the shipping and marine sector and we are very fortunate that he has chosen SulNOx as the next stage in his career.
Chief Administration Officer,
Aquis Stock Exchange Corporate Adviser:
Allenby Capital Limited,
+44 (0) 20 3328 5658
The directors take responsibility for this announcement.
About SulNOx Group Plc
SulNOx, www.sulnoxgroup.com, has developed a hydrocarbon fuels conditioning and emulsifying process which enables more efficient fuel combustion, potentially leading to reduced fuel consumption and significantly lowered emissions.