Sulnox Group PLC - Q2 Trading Update: Another Record Quarter

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

29 October 2025

Sulnox Group Plc

(the "Company" or "Sulnox")

Q2 Trading Update: Another Record Quarter, revenue up 30% on Q1

(Aquis Stock Exchange: SNOX)

Sulnox, the greentech company delivering lower fuel costs and emissions with zero capex, is pleased to announce its trading update for Q2 (1 July to 30 September 2025).

Key Metrics for Q2 (unaudited):

·    Record Q2 revenue of £679.3k, representing growth of 30% on Q1 (£522.6k), and growth of 186% on Q2 2024 (£237.2k).

·    Year-to-date revenue of £1,201.9k up 173% against the same period prior year (£440.4k).

·    Volume of product sold in Q2 up 39% on Q1 and up 327% on the same quarter prior year.

·    Year-to-date volume of product sold up 262% against the same period prior year.

·    Unaudited cash balance as at 30 September 2025 of £1,362.8k (Q1: £1,795.1k).

·    Sales continue to grow strongly into Q3 driven by marine clients, where c.75 shipping companies are engaged, with combined fleets of c. 6,000 (Q1'25 55, 5,100).

Other Highlights

Patents granted

The Company secured an important patent for Eurasia in the significant fuel oil reclamation market. Following a first patent gained in Nigeria earlier in 2025 for an improved oil / water separation methodology, the second covers the jurisdictions of Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Turkmenistan. In addition, further patents for Sulnox Eco, the Company's core product to date, were granted in Jordan and Mexico.

Distribution agreement 

An agreement was signed with C-Quip Ltd, a leading UK distributor of marine equipment, to market and distribute Sulnox Eco to its network in the leisure marine market. The UK leisure marine sector alone generated £4.41 billion in revenue in 2022-23 (source: British Marine) and includes more than 57,000 registered leisure vessels across the UK (Source: UK Government), providing a meaningful channel for extending adoption of Sulnox Eco.

Industry engagement and awards

Management and senior executives are highly active in key trade events relevant to the Company's target industry sectors. These have involved speaking opportunities, panel discussions and presentations at events including Concordia in New York, London Shipping Week, the Thames Valley Chamber of Commerce's Japan Trade Mission, and partnering with the British Chamber of Commerce (BCC) on its exclusive panel event "What's Moving the Needle in Vessel Efficiency?". In addition, Sulnox is a partner of the BCC's Sustainability Dialogue and of Maritime Decarbonisation, Europe.

Separately, the Company was a Finalist in two major industry awards for 2025: the Marine Propulsion Sustainability Technology Award and Multimodal Sustainability Company of the Year.

Annual General Meeting

Our shareholders showed their continued support for the Company at the Annual General Meeting, and all proposed resolutions were passed resoundingly.

 Commenting on another record quarter, Ben Richardson, CEO of Sulnox, said:

"While it is very pleasing to have delivered our best volumes and revenues to date in the second quarter, we are even more excited to be growing our network of distributors and introducers to accelerate further success.  Our revenue pipeline, representing anticipated orders from both existing and new customers, including large corporates, is very strong. We are securing further strategic stock points to fulfil this demand and look forward to announcing new locations in due course."

ENDS

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