Sulnox Group Revenue Rises 173% to £1.2 Million in H1 FY2024
Sulnox Group Plc reported a 173% revenue increase to £1.2 million for the first half of FY2024, driven by a 262% year-on-year volume growth, particularly in the maritime sector. The company has seen adoption from around 75 shipping companies and formed a partnership with Drew Marine, enhancing its global reach. Additionally, Sulnox raised £1.0 million through new share issuance and expanded its intellectual property portfolio with patents in over 100 markets.
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Sulnox Group Plc reported a 173% revenue increase to £1.2 million for the six months ended September 30, surpassing its total sales for 2024. The company’s volume growth reached 262% year-on-year, driven by increased adoption in the maritime sector, with around 75 shipping companies utilizing its fuel emulsification products across 6,000 vessels.
Spring Marine has integrated Sulnox products in its fleet of 28 vessels, and Colas Rail UK has also adopted the technology. Additionally, Sulnox formed a partnership with Drew Marine, which provides access to over 2,500 ports worldwide.
The company launched Sulnox Innovations for R&D focused on combustion and biofuel performance. During this period, Sulnox raised £1.0 million through new share issuance, primarily from existing shareholders and a shipowner. The company expanded its intellectual property portfolio with patents in over 100 markets.
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