THIS ANNOUNCEMENT CONTAINS
INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
6 November
2024
SulNOx Group Plc
(the "Company" or "SulNOx")
Trading Update: Q2 sales
volumes up 343.6% on same period last year
(Aquis Stock Exchange:
SNOX)
SulNOx, the Greentech innovation
company helping industry reduce emissions, lower fuel costs and
meet sustainability targets, is pleased to announce its second
quarter trading update.
Q2
2024 Trading Update (1 July to 30 September)
Revenue
· Unaudited Q2 2024 revenues of £237.4k up 343.6% on Q2 2023
(£53.5k) and up 16.9% on prior quarter (£203.1K).
· Six
months to date (1H) £440.5k against
£135.7k in 1H 2023, a 224.4% increase.
Volume
· Total
volume of product sold in Q2 up 1,181.6% on Q2 2023 and in line
with record volumes in the prior quarter.
· 1H
volumes up 397.7% on 1H 2023.
Cash balance
· Unaudited cash
balance on 30 September 2024 of £804.4k against £1,598.6k on 30
June 2024, reflecting investment in global stock levels and
research and development.
Trading highlights
· Increased stock
levels in all locations, notably Singapore, U.S., Netherlands and
U.K., as well as stock introduced to Southern Spain and
Gibraltar.
· Marine
sales and trials in Q2 moved ahead in line with management
expectations as marketing focus was expanded to further industrial
sectors. Operators purchasing or in trials totalled 39 by the end
of Q2 with a combined fleet size of 4,536 vessels across multiple
vessel types including container and cruise ships, and an
encouraging level of repeat orders. Extended evaluations
included Caspian Marine Services, offering a local demonstration of
SulNOx innovation ahead of COP29 in Baku this month.
· Inland, a generator-based study
demonstrated a 14.5% fall in fuel
consumption, with substantial
reductions in both greenhouse gases and particulate
matter. In Ghana, sales primarily to the automotive
sector progressed into a second quarter with recurring
volumes.
·
New patents for Indonesia, Chile,
Singapore and Japan were granted in Q2
Radu Florescu, Chairman of SulNOx
Group commented:
"Against a background of further good progress in revenues and
sales volumes, most encouraging is SulNOx demonstrating impressive
fuel and emissions results in generators operating inland. This
compelling data positions us well in major industries beyond
marine, where we have seen early success, and reinforces the
exciting partnerships we are developing across Africa to capitalise
on significant land-based opportunities."
ENDS
For further information please contact:
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SulNOx Group plc
Steven Cowin, CFO
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steven.cowin@sulnoxgroup.com
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Allenby Capital Limited
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
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Tel: 020 3328 5656
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