Sulnox Group Raises £2 Million to Expand Global Fuel Conditioner Business Across Marine and Land Sectors
London, 15 April 2026 — Sulnox Group Plc (Aquis: SNOX; OTCQX: SNOXF), the greentech company helping customers cut fuel costs and emissions with zero capital expenditure, has raised £2,000,000 before expenses through a new share subscription.
This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.
Key Highlights of the Subscription
- £2 million raised before expenses through a subscription for new ordinary shares
- 4,444,442 new ordinary shares issued at 45 pence per share
- Issue price represents a 4.26% discount to the 47p average mid-market closing price over the five trading days from 2 April 2026
- Warrants attached: one warrant for every two subscription shares, exercisable at 49.5 pence (a 5.32% premium to the reference price), with a three-year term from the date new allotment authorities are approved by shareholders
- Led by a shipowner whose fleet has used Sulnox Eco across multiple vessels for more than two years, with further support from a substantial existing shareholder
- Admission to the Aquis Growth Market expected on or around 24 April 2026
- Total voting rights following admission: 141,715,962 ordinary shares
Why Sulnox Is Raising Capital Now
The subscription follows a strong trading performance across the business throughout 2025 and is designed to support a rapidly growing pipeline of commercial opportunities — including active engagement with 85 shipping companies worldwide.
Net proceeds will be used to:
- Expand global inventory and establish additional stock points
- Continue investment in R&D through Sulnox Innovations
- Support commercial expansion across both marine and land-based sectors
- Strengthen operational capability to deliver against the growing pipeline
Related Party Transaction: Nistadgruppen AS
Among the investors is Nistadgruppen AS ("Nistad"), a substantial existing shareholder in the Company, which has subscribed for 666,666 subscription shares.
Because Nistad holds more than 10% of Sulnox's issued ordinary shares, its participation constitutes a related party transaction under the Aquis Growth Market Apex Rules. The Board of Directors, having exercised reasonable care and diligence, considers the terms of Nistad's participation to be fair and reasonable for shareholders.
Admission and Total Voting Rights
Application will be made for the subscription shares to be admitted to trading on the Aquis Growth Market on or around 24 April 2026. The shares will be allotted under the Company's existing unspent share issue authorities.
Following admission, Sulnox will have 141,715,962 ordinary shares in issue, each carrying one vote. Shareholders may use this figure as the denominator for the purposes of the FCA's Disclosure Guidance and Transparency Rules.
Major Shareholdings on Admission
To the best of the Company's knowledge, the major shareholders on admission will be:
| Shareholder | Ordinary Shares Held | % of Ordinary Shares |
|---|---|---|
| Constantine Logothetis* | 37,726,548 | 26.62% |
| Nistadgruppen AS | 19,484,663 | 13.75% |
| James Redman Jr. | 8,659,200 | 6.11% |
| Richard Leggatt | 6,807,500 | 4.80% |
| EPS Ventures Pte Ltd | 6,547,534 | 4.62% |
| Unicorn Asset Management | 6,264,779 | 4.42% |
| Artemar Inc. | 5,476,888 | 3.86% |
| Angela Bravo** | 4,314,398 | 3.04% |
* Includes shares held by Tergeo Ltd, Arrowcove Ltd and Kambos SA, in which Constantine Logothetis holds a majority interest. ** Includes shares owned by Sungold Escrow Nominees Ltd and Sungold Asset Management Ltd, companies controlled by Ms Bravo.
Comment from the Chairman
Radu Florescu, Chairman of Sulnox, said:
"We are very pleased to have again secured further support from new and existing investors, reflecting the progress the business continues to make.
Building on strong growth reported in recent trading updates, the Company is seeing expanding engagement across both marine and land-based markets — underpinning a growing pipeline of commercial opportunities.
With rising global fuel costs and tightening emissions regulation, the need for practical, immediately deployable efficiency solutions is becoming more pronounced. This funding enables us to invest further in our R&D capability, global inventory and team, ensuring we remain at the forefront of the fuel conditioner market as we scale to meet that demand."
About Sulnox Group Plc
Sulnox Group Plc (Aquis: SNOX; OTCQX: SNOXF) is a greentech company delivering lower fuel costs and reduced emissions with zero capital expenditure for its customers. Its fuel conditioning technology is deployed across marine and land-based applications, including long-term use by shipowners operating multiple vessels.
For Further Information
Sulnox Group Plc Alex Judd — Marketing and Communications Email: alex.judd@sulnoxgroup.com
Allenby Capital Limited (Aquis Corporate Adviser) Nick Harriss / John Depasquale — Corporate Finance Amrit Nahal — Equity Sales Tel: 020 3328 5656
