DJ SulNOx Group PLC First day of dealings
RNS Number : 0534X
SulNOx Group PLC
17 December 2019
SulNOx Group Plc ("SulNOx" or "Group")
First Day of Dealings
Admission to Trading on the NEX Exchange Growth Market
17(th) December 2019
SulNOx, the hydrocarbon fuel emulsification specialist, is pleased to announce its first day of dealings on the NEX Exchange Growth Market ("Admission") under ticker SNOX and ISIN number GB00BJVQQP66. The Admission includes a placing which raised gross proceeds of GBP185,000 at 50p per share.
SulNOx, has developed a hydrocarbon fuels conditioning and emulsifying process that enables more efficient fuel combustion, leading potentially to reduced fuel usage and significantly lowered emissions. The Company is initially targeting high volume users of Heavy Fuel Oil and diesel fuel.
On 30(th) April 2019 the Group announced that it had signed a technology licence and agency agreement with Nouryon B.V., the former speciality chemicals division of AkzoNobel. Under these agreements, Nouryon B.V. will manufacture and distribute the products under the Berol(R) name, whilst SulNOx will remain entirely responsible for sales and marketing.
The Admission Document is available from the Company's website; www.sulnoxgroup.com
Nicholas Nelson, Chief Executive, SulNOx Group Plc commented:
"We are delighted with our Admission to the NEX Exchange today. The increased visibility of the Company and the small placing, augmenting an earlier pre-IPO round, will go towards financing our marketing and sales programme for 2020.
"Our technology effectively reduces toxic emissions and fine particulate matter as a result of improved combustion. This improved combustion also leads to improved fuel economy and more efficient engine operation."
SulNOx Group Plc: Nicholas Nelson, Chief firstname.lastname@example.org Executive NEX Exchange Corporate Adviser: Alexander David Securities Limited --------------------- David Scott - Corporate Finance +44 (0) 20 7448 9820 --------------------- James Dewhurst - Corporate Broking +44 (0) 20 7448 9820 ---------------------
The directors take responsibility for this announcement.
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(END) Dow Jones Newswires
December 17, 2019 02:00 ET (07:00 GMT)