Sulnox Share Discussion Threads

[strollingmolby] 06/7/2023 09:21

Comment from Constantine Logothetis on LinkedIn:

Constantine Logothetis
Chairman Alithea Capital, Board Member The Libra Group
2d •

Hello All. Last week we invested in a 16.3% stake in SulNOx Group PLC (www.sulnoxgroup.com). As a matter of course we don’t publicise where and how we invest, however in this case the information is already public (as it’s a PLC) and in addition, many companies and individuals can benefit from getting to know and implement SulNOx products. SulNOx’s patented all natural and biodegradable fuel additives and conditioners dramatically reduce harmful and environmentally damaging emissions and crucially also have a measurable and significant impact on fuel efficiency – a win win situation. Please check out the extensive trials and research on the website and use the calculator to see how significant the cost savings are while at the same time tackling the energy transition in an efficient and beneficial manner. We believe it’s a unique solution for the energy transition and it’s at an opportune stage of its journey.

[strollingmolby] 06/7/2023 07:44

Well, that's quite the rise following the new investor coming on board with 16.3% at 9.5p and 10p...! And just before a golden cross forms on the chart.

[strollingmolby] 29/6/2023 17:58

And Constantine Logothetis also exercises his option to buy a further 3,765,300 shares at 10p each, to take him to 16.3% of SNOX.

[strollingmolby] 29/6/2023 17:53

Nice to see a new cornerstone investor with links to the shipping industry jump onboard, and at not much of a discount at 9.5p.

Libra board member becomes major shareholder in greentech firm

Tergeo Limited has become a major shareholder in greentech company SulNOx following a series of off-market transactions.

Tergeo Limited now has a holding of 10,000,000 ordinary shares of 2 pence each, which is equivalent to 9.89% of the current issued ordinary share capital in SulNOx.

The company is an entity incorporated in the United Kingdom to hold the interest in SulNOx on behalf of Constantine Logothetis, the chairman of London-based Alithea Capital.

He is also a board member of the George Logothetis-run Libra Group, which runs Lomar Shipping, and the chairman of the Advisory Board of Gravity Private Wealth. He was previously the founding executive vice chairman of the Libra Group where he served for close to 20 years.

Logothetis’ total holding in SulNOx, including his new interest held through Tergeo, is now 10.88% of the company’s current issued ordinary share capital.

“I am delighted to welcome Mr Logothetis and Tergeo as a significant shareholder in SulNOx. The company now has a cornerstone shareholder who is ready to bring further financial and commercial resources to support our growth aspirations and unlock the true potential of our products,” Radu Florescu, chairman of SulNOx, said.

“We aim to leverage our worldwide network, particularly in energy and shipping, to grow SulNOx’s revenues, investor base, brand, and market presence,” Constantine Logothetis added.

[strollingmolby] 15/6/2023 17:00

More good news with a US patent to follow the EU one:

US Patent Granted

The board of the directors of the Company (the "Board") is pleased to announce that SulNOx has now secured a US patent that covers a range of formulation versions which includes both the Berol® 6446 Heavy Fuel Oils (HFO) emulsifiers and SulNOxEco™ Fuel Conditioners which enhance all diesel, petrol/gasoline and biofuels, Very and Ultra Low Sulphur Fuel Oils (VLSFO/ULSFO) and other lighter marine fuels. This follows the granting of the patent by the European Patent Organisation, announced on 19 April 2023.

Radu Florescu, SulNOx Chairman added, "Given the level of liquid hydrocarbon usage, the scale of the opportunity in North America has always made it a core target market, with the decision to have SulNOx shares trading on the US OTC market a reflection of this. The granting of the US patent will allow SulNOx to pursue revenue opportunities with even greater vigour, knowing the product is unique and extremely effective at reducing emissions and fuel consumption."

Jimmy Redman, the named inventor in the patent documents and Managing Director of SulNOx Fuel Fusions Limited stated, "The granting of this US Patent, following closely on the granting of the European Patent, adds greatly to the size of the global market that SulNOx now has covered. This also confirms that the uniqueness of the products is recognised in two of the largest global markets. We look forward to the granting of other applications around the world following in due course.

The US is significant, where California and in particular CARB (California Air Resources Board) are leaders in the fight to reduce the impact on air quality caused in no small part by Greenhouse Gases and Black Carbon/Particulate Matter pollution from the burning of fossil fuels.

The US is the largest contributor to global transport emissions and the recent announcement of remarkable reductions in Black Carbon/Particulate Matter and inferred significant reduction in fuel consumption reported by third party Green Sea Guard B.V. is well timed to add validation and provide added impetus to efforts to expand sales into this important market. In addition, the formulation using Berol 6446, can add significant value in the treatment of waste oil across ports, particularly those in the US, which are ranked amongst the largest in the world."

US EPA registration has been completed for SulNOxEco™ Fuel Conditioner. Certificates and reports from Bureau Veritas, Lloyd's Register and VPS state that fuel with appropriate dosage continues to meet ASTM D975 (diesel), D4814 (gasoline) and ISO8217 (marine) fuel standards for the US.

Manufacturer Nouryon (part of US based Carlyle Group) has multiple production facilities across North America to service growth in demand.

[strollingmolby] 10/6/2023 08:11

Shipping Trial Success

Shipping Trial Success recorded by Green Sea Guard B.V.

Encouraging sales opportunities following remarkable emissions reductions in trials

Green Sea Guard B.V. ("GSG"), an independent maritime organisation that undertakes emissions telemetry and analysis, helping engine operators to monitor and understand the emissions profile of their engines, has recorded "remarkable" reductions in particulate matter of over 99% in tests of superyacht, MY Yalla ("Superyacht Yalla").

Co-founder and CEO of Green Sea Guard, Anita Bradshaw, a specialist in emissions analysis added: "We have been involved in assessing many fuel products over the years however SulNOxEcoTM Fuel Conditioner is truly remarkable as we found a 6,200-fold reduction in particulates in our analysis over hundreds of data points. We use state of the art laboratory grade equipment capable of analysing down to the very finest particulate sizes and to give context, the Yalla exhaust data has shown particulates, straight after combustion, reduced to a level three times lower than ambient air in big cities such as London and New York. In addition, our simulation models show a theoretical reduction of fuel consumption of over 5%, just from the full combustion of the particulates."

Hestia, a Monaco-based distributor of SulNOx with strong ties to the yachting sector, commissioned the study with GSG in collaboration with the Superyacht operator. Captain Mark Delstanche of Superyacht Yalla stated, "As a forward-thinking and environmentally aware vessel, we constantly implement changes on board that reduce our impact. We are pleased with the excellent results of this benefit validation program and proudly announce our adoption of SulNOxEco as part of our standard operating procedures and encourage other vessel operators to follow suit."

Nawaz Haq, Executive Director of SulNOx Fuel Fusions said of SulNOx results: "The significance of GSG's analysis of data cannot be underestimated. Air Pollution from incomplete fossil fuel combustion kills around 8.7 million people per annum and the World Bank estimate health damages at $8.1 trillion, that's equivalent to 6% of global GDP. In addition, the impact of particulate matter and black carbon on ecosystems and global warming are severe and authorities have been strengthening measures and policies to reduce impact. Current discussions at the International Maritime Organisation (IMO) propose mandatory measures to reduce black carbon given its impact on melting ice."

"These ground-breaking test results put SulNOx Group, Superyacht Yalla, GSG and Hestia at the forefront of the fight against air pollution, armed with a solution that offers both environmental and operational benefits. As the world battles climate change and air pollution, we now have a beacon of hope for a sustainable future across all markets where hydrocarbon fuels are used."

Nicholas Fairfax, a Director of SulNOx Group plc and Head of Marine at SulNOx commented, "This remarkable reduction in Particulate Matter emissions and the inferred fuel consumption reductions have enormous significance for SulNOx revenues in the shipping sector. Even a 5% fuel saving for a shipping company is a potential game changer for their profitability, while also giving them a significant competitive advantage in the shipping market. These reductions will further provide shipowners with important help with their CII compliance and other anticipated regulations targeting emissions reductions."

[strollingmolby] 04/5/2023 09:44

Could be the start of something big, in an entirely new business stream.

SulNOx diversifies and secures first revenues in multi billion Dollar demulsification market

The board of the directors of the Company (the “Board“) is pleased to announce that SulNOx has diversified into an entirely new market for its patented proprietary chemistry. Working with Cleaner Fuel Solutions Pty Ltd (“CFS”) in South Africa, Sulnox has helped reduce the processing time and efficiency of recovering valuable oil from what is otherwise a toxic waste, with a lot of challenges and costs for disposal. This reduction in the time it takes to separate the water and oil offers huge environmental benefits and significant opportunities for operators in the ports around the world.

Following a program which included laboratory demonstration, small batch processing, and a laboratory scale proof of concept flow process, CFS have now begun construction of their first pilot production plant close to the port of Durban in South Africa. CFS has purchased 1 x IBC (Intermediate bulk container) 950Kg of Berol 6446, capable of processing circa 400,000L of waste oil, to be used during the commissioning phase of the pilot plant. This pilot plant has an initial capacity of 600,000L per month.

Dr Neil Roussouw of CFS, a chemical engineer, former senior lecturer at the University of Pretoria and a specialist in water recovery and management stated: “We are pleased to be moving into the production phase of this project. The most compelling feature of SulNOx products is the efficient way they accelerate the separation of the oil and water phases. Extensive trials with the product over the last 6 months have led to the development of a process delivering consistent results. We look forward to commissioning this new plant and scaling up production over the coming months.”

Mr. Shane Nienaber of Fuel Fusions SA, also based in the province of Kwa Zulu Natal, and independent distributors for SulNOx products in South Africa stated, “SulNOx products are now becoming firmly established in South Africa and with the opening of this waste oil recovery plant, entering into an additional market which is global in nature, with a planned rollout program to all the major ports in South Africa over the coming year, and further around the African, Middle Eastern and Indian coasts over the next 3 to 5 years.”

Jimmy Redman, Inventor of SulNOx products and Managing Director of SulNOx Fuel Fusions Ltd. stated, “It is most satisfying to work with the CFS experts and their application and processes, developed from our patented formulations. We look forward to their expansion plans, with the demulsification market representing significant, repeat, global revenue opportunities for SulNOx as a fast-growing global market already worth $2.1Bn pa in 2021 and forecast to grow at +4% pa to $3.1Bn in 2030, according to Verified Market Research, (hxxps://www.verifiedmarketresearch.com/product/demulsifiers-market/)”

[strollingmolby] 25/4/2023 12:54

I wonder what has gone on behind the scenes to prompt this EGM request to oust Ben Richardson and Radu Florescu?

25 April 2023

SulNOx Group Plc (the "Company" or "SulNOx")

Requisition of General Meeting

Aquis Stock Exchange: SNOX)

The board of the directors of the Company (the "Board") yesterday received a letter of requisition ("Requisition") to call a general meeting of the Company ("GM") dated 24 April 2023 from its shareholder, RemNOx Limited (the "Requisitioner").

The Requisitioner holds more than 5% of the ordinary share capital of the Company and the Requisition is in a form which complies with section 303 of the Companies Act 2006 (the "Act"). As a result, the directors are required to call a GM in accordance with the Requisition.

The Requisition requires the directors of the Company to convene a GM to consider ordinary shareholder resolutions to remove Chairman, Radu Florescu, as a director of the Company and appoint three new directors to the Board. In addition, the Requisition includes a special shareholder resolution to remove CEO, Ben Richardson, from his position with the Company. In accordance with the Act, the Company is required to call a GM to consider this resolution within 21 days of receipt of the Requisition and to provide for the GM to be held not more than 28 days after the date of the notice of such meeting.

The Board do not believe that the proposed resolutions are in the interests of the Company or its shareholders as a whole.

Shareholders are advised to take no action at this time.

Sungold Escrow Nominees Ltd holds 96% of the ordinary share capital of the Requisitioner and is controlled by Angela Bravo.

[strollingmolby] 04/3/2023 18:34

Well, the options expired unexercised - what was the point of all that? Was there some event or announcement expected regarding prospects which would have made them pounce and snap-up 29.9%...?

Further to the Company's announcement of 10 February 2023 (the "Announcement"), the board of the directors of the Company (the "Board") understands that none of the Option Agreements set out in the Announcement have been exercised by RemNOx Ltd. ("RemNOx"), and have now expired. The Board has requested that RemNOx inform the Company if any revised arrangements regarding the Company's shares or voting rights are agreed.

[strollingmolby] 13/2/2023 11:25

Interesting developments last week with two announcements from RemNOx, a distributor of SulNOx products and started by former SulNOx directors.

First, RemNOx director, Angela Bravo, who incorporated SulNOx group in 2013, transferred 6,060,000 shares to RemNOx Ltd.



A second announcement on Friday was what really piques the interest however, where RemNOx reported that, in addition to the 6,060,000 shares from the first announcement, has entered into option agreements with four former SulNOx directors to acquire their shares totalling 24,080,000 at a price of 30p in a short window between 6-28 February. If fully exercised this would take RemNOx's holding to 29.89%, clearly a blocking stake for anyone else taking an interest in SNOX, and maybe an indication that they've seen how strong the sales have been in Q4'22 and the start of Q1'23?

[strollingmolby] 01/2/2023 08:20

Progress being made but is still painfully slow...

SulNOx, the fuel decarbonisation specialists, announces a trading update for the third quarter to 31 December 2022.

Key Highlights:

· Q3 revenues of £45,720 showed a 9% improvement on Q2's £41,901.

· Revenue for the 9 months to 31 December 2022 was £120,515, nearly 4x revenues for the same period last year (£31,386).

· The funds from the successful December raise (£760,000 gross) were received in the first week of January, so are not reflected in the cash balance as at 31 December 2022 of £30,125.

· Q4 has started positively with a Purchase Order from a bulk carrier shipping company and several others continue to advance assuredly. US and Canada distributor discussions are also progressing well.

· In response to increasing demands from Global Sustainability Officers, SulNOx has now also received Independent Life Cycle Analyses for both Berol 6446 and SulNOxEco products, in line with ISO 14021 standards and The Institute of Environmental Sciences methodologies.

· SulNOx distributor ElimiNOX has also won the UK Ports Greentech Environmental Award 2023.

· In West Africa, poor fuel quality and ageing vehicles continue showing immediate benefits and the "viral expansion" continues with individual customer sales in Q4 now four times Q3. We expect a larger order by end of Q1 with potential for large scale adoption from Oil Marketing Companies who sell and distribute fuel.

· In South Africa, in addition to continuing discussions with fuel distributors following client demands to pre-mix SulNOx, there is now considerable interest from the mining sector - SulNOx recently demonstrated 12% fuel savings in a 220KVA generator with a Bauxite Miner who is now expanding their usage.

· Whilst the shipping and wider pipeline remains exciting and capable of delivering some significant revenues, the Board has sought to address the length of the sales cycle and delayed revenue realisation by engaging a specialist sales process consultancy to conduct a review in this area, which is expected to be completed before the end of the financial year.

· Simultaneously, the Board is continuing with further cash management initiatives to reduce cash outflow. These programmes include deferred salaries and fees, along with reduced professional fees.

Ben Richardson CEO of SulNOx commented: "Despite the remarkable results of the SulNOx products in reducing emissions and fossil fuel consumption at a time when our solutions are greatly and increasingly in demand, clearly we are not where we need to be with revenues. The Board has acted to address this situation by hiring additional sales staff and engaging consultants to review sales processes with a focus on delivering the multitude of pipeline opportunities in the short-term."

[bronislav] 24/12/2022 13:26

This has been on my radar for a while.The number of distributers is growing although not yet in profit..Once it starts to make profits i will look to grab a few.

[strollingmolby] 24/12/2022 11:45

Use of Proceeds

The net proceeds of the Fundraising will be used as follows:

· Capital Expenditure to accelerate and support revenue generation from the Company's significant client pipeline:

o Shipping trial equipment e.g., emissions monitoring hardware to reduce evaluation timelines and provide data to push carbon credit and CII solutions

o Stock purchase - to satisfy the Company's immediate sales pipeline expectations

· Research and Development to enable product expansion:

o Further fuel standard verifications from independent testing in c.10 countries including South Africa, Australia to compliment those already received for the USA, Europe and India.

o Carbon footprint analysis (measuring the carbon input of SulNOx - critical for ESG funds and many multi-national Sustainability policies) and Patent finalisation and ongoing maintenance in c. 70 countries

· Further Investment in the Company's marketing, financial and consumer public relations/affairs teams to continue thought leadership articles - having now reached an audience of >100million

· General working capital purposes:

o Appointment of Lead Sales co-ordinator and team to support and actively drive the performance from the growing new global ISOs/distributors and incoming client demand.

o Appointment of a Sustainability Officer to establish process and support ongoing requirements work around developing Carbon Credits across the SulNOx client footprints (logistics, transportation, shipping and mining) and their financial reporting. Finalise SulNOx B-Corp status to enable further ESG investors especially in the US.

[strollingmolby] 24/12/2022 11:45

Current Trading and Outlook

With successful trials and adoption by various companies, they are increasingly demanding that their fuel suppliers provide pre-mixed fuel with SulNOx products added. This has led to several significant discussions around replacing existing additives with SulNOx products at both industrial customer deliveries and also at gas/petrol stations, reflecting a material opportunity for SulNOx. In addition to the Rominserv MOU announced previously, the Company is pursuing a number of opportunities in multiple geographies and is in discussions with manufacturer Nouryon regarding upscaling of production.

The Company is increasingly focussed on revenue generation from the shipping industry and is currently pursuing in excess of 25 significant opportunities for paid evaluations of its products. The Company typically achieves revenue of c.£10,000-£30,000 per trial and currently has a trial ongoing with a large German fleet of c.50 vessels, with four further trials expected to start imminently within the US (fleet of over 500 vessels), Germany (c.100 vessels), Monaco (c.10 vessels) and CMS Azerbaijan (over 25 vessels).

To continue the theme, the Carbon Intensity Indicator (CII) Regulation comes into force in January 2023 requiring ships to significantly reduce their fossil fuel consumption and therein inferred emissions. Ship owners and ship management companies are spending money to implement cost-saving measures including sandblasting and repainting hulls with silicone paint, and changing propellers, but SulNOx offers a cost reducing solution with immediate impact - a single vessel able to save $500,000 per annum (assuming 50 tonnes of fuel consumed over 300 days per annum) whilst dramatically reducing emissions - both particulate matter and greenhouse gases.

Shipping companies also currently often use a combination of several additives to, inter alia, stabilise fuel, attend water issues, increase power and add lubricity and detergency - SulNOx is able to address all issues in one simple solution with the added benefits of being all natural and biodegradable, whilst also reducing fuel consumption and emissions - which alternatives are unlikely to achieve.

Evaluations are now progressing across a broad spectrum of vessel types (container ships, bulk carriers, tankers, dredgers, off-shore vessels, super yachts and harbour craft) across the globe and with particular note to opportunities in Singapore and the US for the first time.

[strollingmolby] 24/12/2022 11:44

Useful info contained in the fundraising doc:

Background to and reasons for the Fundraising

SulNOx is the inventor of natural, biodegradable fuel emulsifiers and conditioners. The Company's products are scientifically proven to optimise combustion of liquid hydrocarbon fuels, including biofuels and reduce emissions and fuel consumption.

The key benefits of the SulNOx products include:

· Cost savings:

o Reduced fossil fuel consumption of c.8-10%, and significant reduction in greenhouse gas emissions, NOx, SOx, CO & CO2 output

o Reduction in fuel storage costs

o Potential for financial benefits for clients from carbon credits

· Improved Engine Performance & Health:

o Reduction in maintenance costs estimated at c. 2%

o Detergents and surfactants increase fuel lubricity, reducing engine wear

· Emission Reductions / Air Quality improvements:

o Smoke and Particulate Matter Reductions (PM 2.5 reduced by over 60%, PM10 reduced by over 50%) from improved combustion

o Greenhouse Gas Reductions (160x net CO2 reduction based on a 1:2,000 ratio of SulNOx and 8% fuel savings)

· Assist in achieving client Environmental Social and Governance (ESG) goals and enhance Green credentials of clients.

Over the last twelve months, the Company has continued to develop its brand, proving the effectiveness of its products and demand for solutions including around E10 petrol, taxation and air quality issues. The Company has achieved successful results in research and development testing, including with Bureau Veritas (light fuels US, Europe, India), Lloyds Register and VPS (shipping fuels) and Wismar University (shipping engines).

The Company has also achieved strong results from evaluations completed - including but not limited to:

o Automotive: 11-13.8% fuel savings (TUV inspected vehicle study)

o Buses: 9% fuel savings (EM Horsburgh)

o Loader: 10% fuel savings using biofuel (Dutch client)

o Trucks: 8% fuel savings (Besblock)

o Shipping: 19% power and 15% torque improvement

o Vans: 6.5% fuel savings

The Company now has agreements with over 60 distributors and introducers in 63 countries and has achieved sales of its products in 23 countries across five continents. To support the Company's expanded distribution, SulNOx has patents pending for its products in over 70 countries, and has developed its PR and marketing efforts globally.

[strollingmolby] 23/12/2022 14:34

And there it is, the fundraising to keep the lights on for another six-months, also released with news of another promising trial in Norway...

[strollingmolby] 18/11/2022 12:03

SulNOx is a Greentech company which specialises in providing responsible solutions towards decarbonisation of liquid hydrocarbon fuels. Our patented fuel additives reduce the production of harmful, environmentally damaging emissions whilst also offering significant cost savings. MIDAS tip: 12-month segments


SulNOx
FY-20
FY-21
FY-22
FY-23
FY-24


Revenue (£)
12,184
17,896
33,522
203,076
555,290


Loss for the period (£)
-1,802,791
-823,241
-1,975,739
-1,903,613



EPS (p)
-2.13
-0.96
-2.16
-1.99



Year-end cash
87,734
42,271
1,065,388
522,868
2,150,000


Shares in issue (m)
84.8
85.3
91.6
95.8
121.3


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