8 October 2024
SulNOx Group Plc
(the "Company" or "SulNOx")
Saudi patent granted
(Aquis Stock Exchange: SNOX)
SulNOx, the greentech innovation company helping industry reduce emissions, lower fuel costs and meet sustainability targets, is pleased to announce that it has secured a further patent in the Kingdom of Saudi Arabia ("Saudi Arabia").
Consistent with patents for the US, Europe, Eurasia, Georgia, Ukraine, Hong Kong, South Africa, China, Indonesia, Singapore, Chile and Japan granted to SulNOx to date, this latest patent covers a range of formulation versions which includes both the Berol® 6446 Heavy Sulphur Fuel Oils (HSFO) emulsifiers and SulNOxEco™ Fuel Conditioners which enhance all diesel, petrol/gasoline and biofuels, and marine fuels including Marine Gas Oil (MGO) and Marine Diesel Oil (MDO), Very and Ultra Low Sulphur Fuel Oils (VLSFO/ULSFO) and HSFO.
Saudi Arabia is an important new patent for SulNOx, representing validation in one of the world's largest and most influential oil producers. Saudi Arabia's oil reserves stood at 267.2 billion barrels at the end of 2023, second only to Venezuela's 303.0 billion barrels (Source: OPEC 2024). Saudi Arabia is the largest country in the Middle East and the 20th largest economy in the world (Source: Trading Economics 2024). SulNOx expects the patent to support its pursuit of partnerships and collaborations with major industrial groups in the region.
Aramco, the country's national oil company, has stated it is committed to addressing climate change, while meeting energy needs, and is pursuing a target of Net Zero Scope 1 and Scope 2 greenhouse gas emissions across all its owned and operated assets by 2050 (Source: Aramco).
Ben Richardson, CEO of SulNOx, commented:
"Our Saudi Arabia patent is a huge step up in a growing patent portfolio, with approval in an energy superpower further enhancing our reputation as the leader in greentech fuel. We are excited by the opportunity to deploy our products at scale, helping a region synonymous with fossil fuels to reduce today's emissions while meeting the climate challenges of tomorrow."
ENDS
For further information please contact:
| SulNOx Group plc Steven Cowin, CFO | |
|
Allenby Capital Limited (AQSE Corporate Adviser) Nick Harriss / John Depasquale |
Tel: 020 3328 5656 |
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