SulNOx Group Plc, a leading provider of innovative fuel solutions, has announced a strategic partnership with Eastern Pacific Shipping Pte Ltd (EPS), one of the largest privately-owned shipping companies in the world. This partnership, which marks a significant milestone for both companies, involves a substantial investment in SulNOx’s patented fuel conditioner, SulNOxEco™.
Under the terms of the agreement, EPS will adopt SulNOxEco on a minimum of 30 vessels across its diverse fleet, including container ships, tankers, bulk carriers, and gas carriers. The adoption will span at least 18 months per vessel, following an extensive eight-month evaluation period that successfully demonstrated the fuel conditioner’s efficiency. SulNOxEco, a 100% organic and biodegradable fuel conditioner, is already trusted by companies worldwide to reduce fuel consumption, cut emissions, and enhance engine performance without the need for costly retrofits or upgrades.
The agreement also includes a new product supply contract, with EPS committing to a minimum product volume of 250,000 litres. This partnership is expected to generate significant revenue for SulNOx and attract new customers within the shipping industry. Furthermore, EPS will provide valuable feedback from its vessels’ experiences with SulNOxEco, helping SulNOx refine its marketing efforts and secure additional industry partnerships.
EPS Ventures Pte. Ltd. (EPSV), the venture arm of EPS, will also become a strategic shareholder in SulNOx, subscribing for up to 11.7 million new ordinary shares in tranches over the initial 18 months of the agreement. This investment will provide SulNOx with vital working capital to further develop its products and expand its market presence. Additionally, EPSV has committed to purchasing up to 4.7 million additional shares based on successful introductions to major shipping customers over the next three years.
Cyril Ducau, CEO of EPS, expressed his enthusiasm about the partnership, highlighting how SulNOxEco will enhance EPS’s operational efficiency and align with their long-term sustainability goals. He stated, “This partnership with SulNOx is a significant step towards achieving EPS’s long-term sustainability objectives. By enhancing our operational efficiency and reinforcing our commitment to meeting global environmental standards, this collaboration further solidifies our position as a proactive leader in sustainable shipping practices.”
Radu Florescu, Chairman of SulNOx, also praised the agreement, emphasizing the transformative potential of the partnership. He remarked, “Signing the marquee shipping name of EPS after an extensive evaluation period proves the effectiveness of SulNOx products beyond doubt at a time when the industry is crying out for solutions to reduce fuel consumption and associated emissions. With this partnership, not only have we secured substantial, committed revenues, but there is also significant additional potential revenue from EPS’ introductions to some of the world’s largest fleets. This transaction marks a new and transformative era for the SulNOx Group, and we look forward to a long and mutually beneficial partnership with EPS, delivering the energy transition together.”
The agreement represents a key step forward for the maritime sector as it continues to seek solutions to reduce its environmental impact. SulNOxEco offers a cost-effective and scalable solution to help shipping companies meet the increasing regulatory demands for lower emissions while improving fuel efficiency.
About SulNOx Group Plc
SulNOx Group Plc is committed to reducing emissions and fuel consumption without disrupting industries. Its flagship product, SulNOxEco, is a patented fuel conditioner that transforms liquid fuels into cleaner, more efficient energy. SulNOxEco is already delivering results across multiple industries, including marine shipping, logistics, transport, mining, and construction. Trusted in 37 countries, SulNOx is helping industries bridge the gap to a greener, more sustainable future.
Source ESP | SulNOx Group