Fueltech SulNOx in major Nigeria deal 

SulNOx, the green fueltech group active in shipping, mining and road transport, has signed a major distribution deal in Nigeria, marking further growth in the African decarbonisation market.

Fuelonomics Hydrocarbons Innovations Limited (FHIL) has been appointed as a distributor.The company is part of energy and mining specialist DEER Nigeria Limited. The agreement  will demonstrate the benefits of SulNOxEcoTM fuel conditioner across core industries in Africa’s fourth largest economy, for which GDP is expected to reach $252bn in 2024.

The collaboration follows a successful strategic visit to Nigeria by SulNOx senior management which established a foundation for sales across multiple sectors. These included generators in hospitality, residential and infrastructure settings, as well as use in fuel refineries, petrol stations, transport and logistics companies.

Since the visit, NIPCO (Nigerian Independent Petroleum Company) has successfully proven c.10% fuel savings in their fuel tankers and now plan a phased roll-out of SulNOx across their fleet and to sell SulNOx at their 205 petrol stations in Nigeria. FHIL has since placed an order for c.4,000 litres of SulNOxEcoTMfuel conditioner.

Commenting on the Nigeria partnership and initiative, SulNOx CEO Ben Richardson said:

“Nigeria, for decades a major global player in the energy sector, represents a huge opportunity for SulNOx and a further significant achievement for SulNOx in Africa. Fuel costs have risen >5x in the last 18 months, and much of the population continues to be reliant on the c. 22 million generators for power. We are excited to see significant progress and sales materialising and look forward to collaborating with FHIL’s highly capable and ambitious team in deploying our products to help Nigeria grow by lowering fuel costs whilst simultaneously reducing emissions.”

Abdulmajeed Amussah, Founder/CEO of DEER Nigeria and FHIL’s major shareholder, added:

“FHIL is committed to driving sustainability and economic growth through cutting-edge products and services. FHIL will leverage the increasing governmental and corporate focus on sustainability to position SulNOx as a unique solution for fuel efficiency and environmental responsibility in industry. We have allocated significant financial resources to grow the team and have set ambitious targets given the considerable need to reduce fuel costs in Nigeria.”

SulNOx works across all major industries to help reduce emissions, lower fuel costs and meet sustainability targets. Its all-natural conditioners emulsify water, while increasing lubricity and oxygen availability to fuel, making it burn cleanly and more efficiently.

The company has made very significant progress in shipping trials and growing revenues, signing major pilots in Asia and Europe with Teekay Corporation, Spring Marine, Marfin and Peninsula Yacht Services.

Inland, a key generator trial recently showed fuel usage lowered by 15%, while emissions were slashed.

SulNOx shares have risen more than 350% to 52.5p in 18 months.
Source: SulNOx