3rd Aug 2026 16:59
(Alliance News) - SulNOx Group PLC on Monday reported a first quarter revenue increase, and said demand for its offering "continues to grow".
In a trading update, the London-based green fuel technology developer said revenue in its first quarter to June 30 shot up 54% to GBP804,600 from GBP522,600.
It hailed "repeat and expanding sales with existing marine clients and new clients".
The volume of product sold increased by 73% year-on-year, it added.
Sales have continued strongly into the second quarter, SulNOx reported.
In June, SulNOx reported a four-year supply deal with Eastern Pacific Shipping Pte Ltd, marking its largest ever commercial agreement.
The deal was for the deployment of its Sulnox Eco fuel conditioner offering across the Eastern Pacific Shipping fleet, with usage increasing to over 50 vessels from around 30.
It also sealed a GBP2 million fundraise during the quarter, with the funds going towards "global inventory expansion" and "continued R&D".
Chief Executive Officer Ben Richardson said: "The first quarter has demonstrated that our strategy is delivering on multiple fronts. We signed our largest commercial agreement to date with EPS, strengthened the balance sheet through a GBP2 million fundraising, expanded our land-based distribution across South Asia and Europe, and continued to build the intellectual property that underpins our long-term competitive advantage.
"Demand for technologies that deliver immediate reductions in fuel costs and emissions continues to grow, and we believe SulNOx is increasingly well positioned to capitalise on that opportunity. We enter the second quarter with growing commercial momentum, an expanding global footprint and increasing confidence in our ability to scale the business internationally."
SulNOx shares closed flat at 50.00 pence in London on Monday afternoon.
By Niall Holden, Alliance News reporter
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