SulNOx is delighted to announce that it has received £550,000 from private investors in a pre-IPO round set at a 15% discount to the anticipated NEX Exchange flotation price.
Through a licencing agreement with chemical giant Nouryon, SulNOx is bringing to market the first of a family of propriety, patent pending, fuel emulsifiers and diesel conditioner products which have been shown to improve combustion efficiency and significantly reduce exhaust toxins.
Stephen Bamford, Chairman, commented: “This successful private placing helps pave the way towards our placing and admission to the NEX Exchange, which is on track to complete by mid-July. We come to market with immediate customer interest, short term sales potential and an expected suite of news to take us through the year ahead.”
The company has received advance assurance from HMRC that it is EIS eligible. This is designed to deliver a range of tax reliefs to investors in this pre-IPO round and the future share placing.