Sulnox soars in Q1 as energy transition steps up

August 4, 2025

SulNOx, the green fueltech company backed by Idan Ofer and Contantine Logothetis, has grown first quarter revenues by more than 150% on the same period last year, with an 11% increase on the previous quarter, driven by new major marine clients and expanded sales with existing users.

The UK-listed group posted £523,000 of revenue in the three months to end-June, marking another record quarter. Shipping companies evaluating its Sulnox Eco fuel conditioner increased from 55 to 61 between Q4 and Q1 alone, including further ‘marquee’ name companies. Volumes of product sold almost trebled against last year’s first quarter.

Momentum has been boosted by Sulnox’s partnership with Idan Ofer’s EPS, one of the world’s largest privately owned shipping operators. In January, Singapore based EPS took a stake in the company and signed a major product supply deal.

Accelerating global regulation of maritime emissions is increasing the immediate opportunity for Sulnox. While shipping companies explore alternatives to fossil fuels, Sulnox products are becoming a compelling element of energy transition, with an instant impact requiring zero capex.

Longer term, Sulnox Eco is a key enabler of biofuel adoption in shipping. It improves oxidative stability, enhancing combustion to reduce emissions, while improving storage and engine cleanliness.

Sulnox is expanding its work across all major industries, including rail, road transport and popwer generation, to help lower fuel costs and meet sustainability targets.

Commenting on another record quarter, Ben Richardson, CEO of Sulnox , said:

“Whilst we have delivered our best volumes and revenues to date in the first quarter, equally as exciting are the further growth opportunities afforded by the formation of Sulnox Innovations and the establishment of the Global Advisory Board. This augmentation of our leadership team not only brings vast experience but also expands reach in key geographies including the USA and the Middle East, and brings industry expertise in several key growth areas including the logistics, defence and energy sectors.”