Report

Sulnox | £2m customer backed subscription

Sulnox has raised £2m in gross equity funding mainly from a customer backed subscription. The funds will be used to support working capital and further investment into the business. While on our estimates, Sulnox was funded through to profitability, the additional funding from a current client demonstrates its faith in Sulnox's Sulnox Eco fuel conditioner. Moreover, the additional funding strengthens Sulnox's balance sheet supporting a more rapid build out of its marine and land-based markets together with further R&D development. We forecast Sulnox to be profitable from FY28 with the potential for very rapid escalation thereafter.
Underlying
SULNOX GROUP PLC

SulNOx Group PLC is a United Kingdom-based company that provides fuel emulsifier products. The Company's fuel emulsifier technology reduces emissions of polluting gases in combustion engines. Its methodology and process emulsify hydrocarbon fuels such as diesel and Heavy Fuel Oil (HFO). Its products include Berol 6446 HFO Fuel Emulsifier and Berol 6430 Diesel Fuel Conditioner. One emulsifier is for use with diesel fuel while the second is primarily for HFO applications. It serves various industries, such as power generation, heating, road transport and shipping and rail.

Provider
Capital Access Group
Capital Access Group

Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.

Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.

Analysts
Colin Smith

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