Verified fuel savings over 5% for seagoing vessel
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
23 October 2023
SulNOx Group Plc (the "Company" or "SulNOx")
Verified fuel savings of over 5% for seagoing vessel with two-stroke engine
The board of directors of SulNOx (the "Board") is excited to announce that our drop-in fuel conditioner, SulNOxEco™, has been verified to have reduced fuel consumption by over 5% in a recent ocean trial in a two-stroke engine burning Marine Diesel Oil (DIN ISO 8217).
During a five month-long trial in cooperation with a Hamburg-based shipping company and a renowned Northern German university for maritime shipping, baseline measurements of fuel consumption on the two-stroke MAN B&W 6S35MC engine were taken at 60% and 70% engine load, and then repeated after using SulNOxEco™ treated fuel. The evaluation measured a consistent 5-6% reduction in specific fuel consumption under real operating conditions during commercial voyages in the North Atlantic Ocean and Mediterranean Sea.
The project partners will conduct a further evaluation application of SulNOxEco™ on an engine running Very Low Sulphur Fuel Oil (VLSFO) where experts from the shipping company and the university expect an even greater fuel-saving effect.
Nicholas Fairfax, Head of Marine at SulNOx commented: "This latest confirmation of the fuel conditioner's efficacy demonstrates its potential to help shipowners and operators meet global and regional emissions regulations, such as the International Maritime Organization's (IMO) Carbon Intensity Indicator (CII) and EU Emissions Trading System (EU ETS). SulNOx's all-natural, fully biodegradable fuel conditioner continues to prove its value as a market-ready tool in the maritime industry's energy transition arsenal."
Ben Richardson, of SulNOx added: "Meeting the maritime industry's emissions reductions target is an ecological and moral imperative and also makes perfect business sense. Shipowners face tough decisions on future fuel choices, but we must take action on decarbonisation today. Our fuel conditioners are an immediate, easy win to make the most of current fuels, save money and cut harmful emissions.
By adopting the SulNOx green technologies to improve fuel efficiency and reduce emissions, the industry can minimise its environmental impact as it strives towards a zero-carbon future."
Correction to Previous Announcement
The announcement of 20 October 2023 incorrectly included a reference to AIM, rather than the AQSE Growth Market.
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For further information please contact:
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SulNOx Group plc
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Tel: 07624 491 821 |
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Allenby Capital Limited (AQSE Corporate Adviser) Nick Harriss / John Depasquale |
Tel: 020 3328 5656 |
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