SulNOx Group PLC - £1m Subscription and Launch of Sulnox Innovations

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

 16 June 2025

Sulnox Group Plc

(the "Company" or "Sulnox")

Launch of Sulnox Innovations

Subscription for Shares

Holdings in the Company

Total Voting Rights

(Aquis Stock Exchange: SNOX)

Sulnox, the greentech company delivering lower fuel costs and emissions at zero capex, announces two material developments: a subscription raising £1,000,000 (before expenses) from investors, and the formal launch of Sulnox Innovations, its dedicated Research & Development division ("R&D").

Launch of Sulnox Innovations

Following the success of Sulnox Eco™, the Company is expanding its product innovation pipeline to meet growing demand for technologies that cut emissions and costs - without disruptive change. Sulnox Innovations will develop and commercialise next-generation solutions that support all engine fuels on the route to Net Zero and beyond, including enhanced biofuel performance and oil reclamation efficiency.

At its core is green emulsification: the proven combustion improvement mechanism behind Sulnox Eco. This will remain central to Sulnox's IP and innovation strategy, supported by a growing patent portfolio, plus insight and R&D capacity from Sulnox's strategic partners and scientific institutions. 

Ben Richardson, CEO of Sulnox, commented: "Sulnox Innovations is moving quickly but thinks long-term. We're combining scientific rigour with commercial focus - expanding our intellectual property and fast-tracking practical solutions that deliver immediate value to current and future customers, while supporting global sustainability goals. These initiatives reflect the same focus that defines Sulnox: financially viable, scalable solutions that reduce fuel costs and emissions without disruption."

Subscription for New Shares

To support this strategic expansion and increase working capital, Sulnox has raised a total of £1,000,000 (before expenses) from a group of new and existing investors (the "Investors") led by a shipowner whose company has been using Sulnox Eco on multiple vessels for more than one year. The funds will be used to:

·      Expand Sulnox Innovations

·      Grow global inventory and stock points

·      Hire additional staff

The Investors have agreed to subscribe for a total of 2,000,000 new ordinary shares of 2 pence each ("Ordinary Shares") at a price of 50 pence per share (representing a discount of 9.09% to the closing price of the Ordinary Shares on 13 June 2025 of 55 pence raising £1,000,000 before expenses) (the "Subscription").

The Subscription will be conducted under the Company's existing unspent share issue authorities.

Each Investor will also receive one warrant for every two new Ordinary Shares subscribed, entitling them to purchase additional shares at 60 pence within three years, subject to new allotment authorities being granted at the Company's 2025 AGM (and if necessary, 2026 or 2027 AGMs).

Related Party Transaction

Among the subscribers is Nistadgruppen AS ("Nistad"), a substantial existing shareholder. Nistad has subscribed for 300,000 new Ordinary Shares. As Nistad holds over 10% of the Company's Ordinary Shares, this constitutes a related party transaction under AQSE Growth Market Apex Rules. The Board of Directors of the Company, having exercised reasonable care and diligence, considers the terms fair and reasonable for shareholders.

Admission and Lock-In

The new Ordinary Shares are expected to be admitted to trading on the AQSE Growth Market on 20 June 2025 ("Admission"). Investors have agreed not to dispose of their new Ordinary Shares for six months from Admission.

Shareholdings on Admission (to the best of the knowledge of the Company)

* Includes shares held by companies in which Mr. Logothetis holds a majority interest.

** Includes shares owned by Sungold Escrow Nominees Ltd and trusts for Ms. Bravo's immediate family. Of these, 3,420,200 have beneficial ownership and 2,298,810 voting rights only.

Total Voting Rights

On Admission, the Company will have 130,188,582 Ordinary Shares in issue, each carrying one vote. This figure should be used as the denominator for any FCA Disclosure Guidance and Transparency Rule reporting obligations.

Radu Florescu, Chairman of Sulnox, said:  "We are delighted to again receive significant further support from existing shareholders, including Nistad, and to welcome new investors.  We are confident that the buildup of product inventory will provide a smoother sales cycle to our growing pipeline in the near future.  This new commitment of funds follows good progress as reported by Sulnox for Q1, as well as continued strong news flow regarding commercial partnerships and our rapidly growing patent portfolio."

- Ends -

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