Appointment of Technava
25/02/2025 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250225:nRSY2702Ya&default-theme=true
RNS Number : 2702Y SulNOx Group PLC 25 February 2025
25 February 2025
SulNOx Group Plc
(the "Company" or "SulNOx")
Exclusive agency agreement in Greece and Cyprus
(Aquis Stock Exchange: SNOX)
SulNOx, the greentech innovation company helping industry lower fuel costs,
reduce emissions, and meet sustainability targets, is very pleased to
announce an exclusive agency agreement for Greece and Cyprus with Technava
S.A., one of the leading suppliers and contractors of shipbuilding and
industrial equipment in those markets, which has operated at a unique
crossroads of commercial and technical management for close to 60 years.
SulNOx was first introduced to the Greek market in May 2024 with the support
of Piraeus-based Shipping Spares Repairs and Supplies Ltd (SSRS). SSRS has
strong relationships with shipowners, contractors and shipyards, and a
longstanding interest in decarbonisation technologies. It will continue to
work alongside Technava to service a number of key clients.
The new initiative extends SulNOx's reach in the globally important and highly
influential Greek maritime sector, in which it has existing partnerships with
major operators. Greece has the world's largest shipping fleet by size,
controlling 17.8% of the world's shipping capacity (Source: Virtuemarine,
2024). Based on existing commitments and discussions, SulNOx expects the
Greek maritime business to form a significant part of its portfolio going
forward.
Technava has verified results showing fuel savings of 4-7% and significant
mechanical benefits. Given the proven efficiency savings and mechanical
benefits, Technava is the ideal partner to provide SulNOx driven solutions to
the Greek maritime ecosystem.
Technava was founded in 1968 to supply marine equipment and technical support
to the Greek shipping industry. Today, it is one of the leading companies in
the supply, installation and service of equipment on board all types of ships.
Technava's scope also includes services and equipment for the industrial
sector and in particular for power plants, city municipalities and the
oilfield industry. The long-term partnership agreement with SulNOx provides
further representation in those very substantial non-maritime markets.
In addition, Technava works with a wide network of 'principals', or key
manufacturers and product suppliers that it promotes, which are engaged in
major markets China, Korea, Turkey, Italy and Germany. These are all countries
specifically targeted by SulNOx for further expansion.
Commenting on the agreement, Ben Richardson, CEO of SulNOx, said:
"Technava has a huge, well-respected presence in Greece and Cyprus, which
represents a very sizeable and multi-faceted opportunity for SulNOx. We look
forward to expanding our relationship with the excellent Technava teams and
principals to accelerate our revenue development in this important region."
Styliani Tomazos, Managing Director of Technava S.A., added:
"Our customers across all industry sectors are under significant pressure to
meet regulatory expectations for emissions reduction, while seeking also to
achieve cost savings from lower fuel consumption. By offering SulNOx as a
zero-capex energy transition solution that yields significant and rapid
results, we are reinforcing our commitment to helping customers save money and
minimise the environmental impact of their businesses. We look forward to
promoting SulNOx as a unique greentech proposition for industry, with very
compelling benefits."
Dominic Jolliffe, Director of SSRS Ltd, said:
"We look forward to building on Sulnox's initial success in the Greek market
and continue to believe that Sulnox offers an attractive solution for
shipowners in their efforts to comply with stringent environmental
regulations."
ENDS
For further information please contact:
SulNOx Group plc alex.judd (mailto:alex.judd@sulnoxgroup.com) @sulnoxgroup.com
(mailto:alex.judd@sulnoxgroup.com)
Alex Judd
(Head of Marketing & Communications)
Allenby Capital Limited Tel: 020 3328 5656
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END NRAEAXALADASEFA