Business
Exercise of Share Options & US Patent Granted
Exercise of Share Options & US Patent Granted.
About this update from Sulnox Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310\n \n 15 June 2023\n \nSulNOx Group Plc (the \"Company\" or \"SulNOx\")\n \nUS Patent Granted\nExercise of Share Options\n \n(Aquis Stock Exchange: SNOX)\n \nUS Patent Granted\n \nThe board of the directors of the Company (the \"Board\") is pleased to announce that SulNOx has now secured a US patent that covers a range of formulation versions which includes both the Berol® 6446 Heavy Fuel Oils (HFO) emulsifiers and SulNOxEco™ Fuel Conditioners which enhance all diesel, petrol/gasoline and biofuels, Very and Ultra Low Sulphur Fuel Oils (VLSFO/ULSFO) and other lighter marine fuels. This follows the granting of the patent by the European Patent Organisation, announced on 19 April 2023.\n \nRadu Florescu, SulNOx Chairman added, \"Given the level of liquid hydrocarbon usage, the scale of the opportunity in North America has always made it a core target market, with the decision to have SulNOx shares trading on the US OTC market a reflection of this. The granting of the US patent will allow SulNOx to pursue revenue opportunities with even greater vigour, knowing the product is unique and extremely effective at reducing emissions and fuel consumption.\"\n \nJimmy Redman, the named inventor in the patent documents and Managing Director of SulNOx Fuel Fusions Limited stated, \"The granting of this US Patent, following closely on the granting of the European Patent, adds greatly to the size of the global market that SulNOx now has covered. This also confirms that the uniqueness of the products is recognised in two of the largest global markets. We look forward to the granting of other applications around the world following in due course.\n \nThe US is significant, where California and in particular CARB (California Air Resources Board) are leaders in the fight to reduce the impact on air quality caused in no small part by Greenhouse Gases and Black Carbon/Particulate Matter pollution from the burning of fossil fuels.\n \nThe US is the largest contributor to global transport emissions and the recent announcement of remarkable reductions in Black Carbon/Particulate Matter and inferred significant reduction in fuel consumption report...