SulNOx Group PLC Q1 Trading Update (7849Q)

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                  [e-mail] 
  Steven Cowin, Director 
 
 Allenby Capital Limited           Tel: [phone] 
  (AQSE Corporate Adviser) 
  Nick Harriss / John Depasquale 
 

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June 30, 2022 02:30 ET (06:30 GMT)