Sulnox Group (AQUIS:SNOX) — Investor Presentation

0:01 Good morning, ladies and gentlemen, and welcome to the SNOX GROUP PLC Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time via the Q and A tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and will publish our responses where it's appropriate to do so on the Investor Meet company platform. Before we begin, we would just like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. And I would now like to hand you over to CEO, Ben Richardson. Ben, good morning, sir. Good morning, everybody, and, thank you very much for, the kind introduction and and everyone for making the times. So I'm going to talk to you today, about, SNOX GROUP PLC, a real, solution for the energy transition.

0:58 Basically, the world needs a solution that is actually practical to the day. Whilst we often hear about electrification, I indeed have a an electric car, and it's the right thing to do because power produced at a power station is far more effective than anything we can produce locally. There is a real issue, and that's to to to make the transition as green as possible. What SULNOX is able to do with our invented patented green technologies is actually reduce today's fossil fuel consumption. Also, by improving combustion, we are reducing both greenhouse gas and, particulate matter often associated with, poor air quality throughout the world. And the best thing about the product is they come at a zero CapEx cost to users.

1:53 So as a simple pour in solution, we're actually able to often take customers to their ESG goals of 20% c o two reduction literally overnight. But the market is is huge. If you look to the right hand side here, the ability to remove almost 6,000,000 barrels of oil every day should everyone use the product or equivalent to the total carbon footprint of India on a day to day basis or or removing 850 millions of tons of c o two every year, again, equivalent to the whole footprint of European transport. And the the products are unique and are are patented as such, and it can make a significant difference to to the climate crisis.

2:45 So if we look at who SNOX is, we're a UK listed company. We're listed on the Aquis exchange here, but also listed on the OTC market in The States. As I quickly mentioned, we are inventors, and we're inventors of emulsification technology. I have a video that will show you how this all works in a minute, but emulsification has been around for a long time. We know from even the First World War when water was put into the the the tanks to make them go further or even in prohibition where water was used to outrun the cops that adding water enables better fuel consumption and reduced emissions. What we've got though is actually not physical emulsification.

3:31 We've invented chemistry, which is very clever at taking advantage of small amounts of water without the need to add water into an engine. And this is now proven all over the world in many testimonials, which I'll show you, to dramatically reduce the production of greenhouse gases while saving the users money. As I quickly mentioned, we we have patented products now all over the planet. We have as many as a 100 patents today. And the the products being unique have the ability to really make a massive dent into many of the world's largest consumers of fossil fuels.

4:18 The products have been tested ex and if you look to the likes of Lloyd's Register and VPS, these are the go to certification bodies for the marine sector, whereas Socatec and Cura Terra are the go to for emissions proof. So over the last four years, we've we've developed the brand, we've developed the patents, and now we have some significant investors and names behind us to to grow the company. If we look at where we're already sold, the the products have already been sold in over 40 countries, and you can see it's a real global footprint. And then if we look at the patents, there's some significant patents here, not just the The US and European patents, but also some patents like China and Saudi Arabia, where, obviously, the the the technology has been scrutinized.

5:13 Can it be easily replicated? No. Is there future future potential for the products, within the patent? Yes. And this is why we're excited about the the patents, which we keep we keep developing and pleased to say that we're now getting new patents in in new innovative tel technologies like the SNOX reclaim products, which can actually split out waste oil and water, and that itself is a is a $2,000,000,000 market. But if you look at the dark dots, those are the marine hubs. SULNOX is focused on marine. This is because marine consumption is of fossil fuels is vast, and it's a very hard to abate sector.

6:00 We now have products produced by our partners, Nurion, in both Singapore, which is where most of the shipping bunkers are taken, and also in Rotterdam, which is obviously Europe's biggest port. But we have product available in in Houston, Australia, Jabir Alley, Gibraltar, and even, obviously, in The UK. And the key to Nurion making the product is they're a massive global chemical specialty chemical company avail available to make the product in over 80 countries, which means that we can guarantee the green footprint and the availability of the product to any user across the planet. And if we talk about the the application of the products, SNOX is able to reduce the consumption of every liquid hydrocarbon on the planet.

6:57 This means every petrol or gasoline product, every marine fuel, be it heavy sulfur fuel oil used by the bigger ships or even MGO and petrol used on the smaller leisure vessels. We're able to reduce the consumption of the new biofuels like HVO and the the first generation biofuels as as well. But even able to to work with all freight and and diesel and heating oils and potentially even aviation fuel. We know it will work. It's a question of doing the r and d as well. But you see here, the market is vast. Every internal combustion engine on the planet.

7:43 To give you an idea, I've put a statistic here. If just 5% of the global marine fleet adopts it, that would equate to around 200,000,000 in in annual revenue. Obviously, marine, as I mentioned, is our largest target and one where we've gone to press saying we have 75 different fleets now engaged with us and an equivalent of 6,000 vessels, which is around about that 5% of the the global fleet. But if we look at fuel stations, it's only 30 different 30 fuel stations that can take us to a million dollars in revenue, and you see the the sheer scale of the numbers there. If we think about generators, and today, we have increasing number of generators on two fronts. Firstly, to be backups or indeed primary power for some of the world's largest data centers, but also across the globe, places like Saudi Arabia that are growing so fast, developing new infrastructure.

8:50 They require generators to facilitate their construction. But if we we think about the the day to day running of the world, SNOX is able to reduce the consumption of fossil fuels for logistics and freight around 88%, which is a meaningful return on investment to to all users. And now we have great case studies in locomotives, which 50% will will never be electrified due to to geographies, etcetera. But there's the island states that are completely powered by by marine type engines importing fuel. If we can import eight to 10% less, then obviously that has a meaningful impact on their GDP, on their national debt, and indeed on the electricity bills of their of of their voting population.

9:48 So vast a market, more than 70% of every barrel of oil is able to be influenced by SNOX. So at a very high level, I'm gonna talk about the SNOX ECO product. As it mentions here, our flagship product, the product we sell the most of today. It's an all natural organic substance, a simple pour in solution.

10:14 And by improving combustion, we're able to lower fuel cost, typically 5% in the more viscous marine fuels, but eight to 10% in in land applications or as high as 15% when we talk about Africa where the fuel is poor, the vehicles are old. And by improving combustion, we are reducing c o two more than 20%, nitrous oxides more than 15%, and also able to significantly help on the maintenance front by cleaning and lubricating the engines. So at that point, I'd like to Jake, if you could please play a video to explain the products, that'd be wonderful.

11:09 Every day across a wide range of industries, engines waste fuel. Not through inefficiency, but because the fuel itself doesn't combust completely. That means higher fuel costs, more emissions, and accelerated engine wear. Here's why. When fuel is injected, it's atomized into fine droplets, but not all are small enough. So even when pressure and temperature reach combustion levels, the larger droplets don't fully combust. That means some fuel goes to waste and what's what's left behind becomes particulate matter. It causes carbon buildup, reducing engine efficiency and exits the exhaust as black smoke.

11:57 SULNOX ECO changes that. When the fuel conditioner is added, the surfactants scavenge small amounts of free water already present and disperse it into microscopic droplets within the fuel forming a stable emulsion. Then, as the fuel enters the combustion chamber, the droplets remain within the atomized fuel. These droplets then vaporize triggering micro explosions that fragment the fuel droplets into even smaller ones, a process known as secondary atomization. These smaller further atomized droplets burn more efficiently and the result is complete combustion, reducing particulate matter and emissions and delivering more usable energy. But that's not all. SULNOX ECO also improves fuel lubricity, reducing friction and helping extend the life of key parts like piston rings and liners.

12:55 And it also adds detergency, removing built up carbon from engine components, helping prevent future deposits and extending their lifespan. So engines not only run better, they stay efficient for longer. And best of all, it's a drop in solution. Lower fuel costs, lower emissions, zero capital investment. Just add SULNOX ECO.

13:33 Great. Well, thank you, Jake, for for taking us through that. As you can see, it's a it's a pretty compelling story to be able to reduce by the improved combustion fuel consumption with emissions as well as the the maintenance cost. And what we've seen now over the last couple of years is that we've been proven. So everything is proven. And the the way that the marine world works is it's a very cautious industry, but I'm very pleased to say that Eastern Pacific, one of the largest privately owned shipping companies in the world, which has about 300 vessels, is now in a process of adopting the product. Initially, they tried SNOX on eight vessels showing that five percent fuel saving across the the heavy sulfur fuel oil as well as very low sulfur fuel oil and biofuels as well. Biofuels are important because they estimate that 27% of the world's fuel will be biofuel in 2050, so a long way to go.

14:43 And the fact is that Eastern Pacific has now adopted SNOX on 30 of its vessels, and we are in in ongoing discussions as to to whether or not we can expand that that usage. But the marine industry is very conservative. They like to do things slowly. We are, obviously, though, very pleased that we're continuing to see those fuel savings and now getting reports of the cleaner engines being across the fleet as well as the black smoke having completely, gone from all the ships' funnels that use the product. But it's not just, the largest container ships, tankers, bulkers, and, roll on, roll off, vessels that EPS used.

15:33 There's a huge story in in in the cruise sector. Crews less worried about the cost of fuel, but very worried about being in port and belching out black smoke, which obviously has an impact on air quality in the port. But also looking to to reduce the the black smoke for those on board the vessel because the vacuum as you go through the through the sea pulls the black smoke back onto the vessel. And what you get with the use of SNOX is you you get cleaner decks because if you've ever been on a cruise ship, the skinny nature of the decks is that black carbon having settled out. The crew also has to often clean the swimming pools and the deck chairs. With that black soot being reduced, it's a major part of what makes SNOX a success for for Crystal Cruises. But to give you an idea, the, three and a half percent fuel saving onboard this vessel, is, north of $500,000, saving, for the vessel for every year.

16:47 But it's not just those two. We have testimonials now with the likes of of Marfin. Marfin, a bunk a bulker company showing six and a half percent fuel savings and now looking to adopt across the fleet. But what was interesting is that SNOX doesn't just reduce fuel consumption. When you reduce that fuel consumption, it means you actually have to pay less regulatory tax in the form of EU emissions trading system or EU ETS, and that becomes a reduction in in those regulatory costs as well. Then most recently, Spring, again, a Greek company this time, adopting across their 28 vessels having noted a a 5% fuel saving across their fleet.

17:41 So now, as I mentioned, everything is is proven, and it's a matter of just getting in front of the right ship owners and expanding our sails. If we look to to land based applications, this is the the best case study we could ever have hoped for. It's a a large generator stuck at a a high load of 80% for a five week period. And why this is such a great case study is because unlike shipping or trucking or even rail to a degree, there are no external factors. The generator sits there motionless and using normal four core diesel, we were able to demonstrate over a five week period a 14 and a half percent reduction in fuel consumption.

18:32 But then measuring the the change in emissions through time, Socotec independently measured that 26 and a and a half percent reduction in c o two, the reduction of 14% in nitrous oxides. But critically, that black smoke, which is actually just unburned fuel, was almost completely removed. And this is, you know, testimony to the effectiveness of the products. The video that showed you how improving combustion can reduce consumption and emissions, This is the the real world example. But if we look at rail companies, we have COLAS Rail who's part of the Bouygues Group, so a huge global conglomerate, and they showed a four and a half percent improvement in in fuel efficiency.

19:30 Again, 6 figure plus benefit to them per annum even on that on that small number of tampers and indeed locomotives. But then a trucking example, this is from our partners in in Canada, Clear Sky, showing 10% fuel efficiency, which is typical of any trucking company or freight company that we see. Again, in The UK, a company called MGL Demolition saving seven and a half percent across tipper trucks, but then this can be extrapolated to to mining usage where we we now see excavators with less issues with with with their injectors, less need to replace filters.

20:26 And if you talk about maintenance, today, a lot of these trucks, they have to put DEF or AdBlue into their exhaust system. This is to remove nitrous oxides. But by improving the combustion, as I showed you with the generator, we're seeing that these companies are also saving on maintenance both from reduction in their AdBlue consumption or also because the the NOX sensors do not send the the trucks or into

21:01 limp mode, which means they can work longer hours without needing to get rescued. And so if you like, the the the the fleet is available for use more often, a key benefit to any technical and maintenance officers. And then on the right hand side, this is just to give you, you know, an idea of the application of the product. This is Ashcroft terminal again in in Canada. Ashcroft is one of a member of the PSA Group. The PSA Group actually runs Port Of Singapore to give you an idea, and we see again around that 10% improvement in the, in the vehicles. But ports are an interesting topic. I mentioned the the black smoke, but, they're all looking to reduce their emissions, and SNOX is something with a 20% reduction in c o two that can meet sustainability targets for any user literally overnight.

22:05 So in terms of why invest? Well, the company's really going from from strength to strength. If you if you look at the at the trade press, Tradewinds is the magazine and the newspaper that's read by every ship owner on the planet. As it says here, I've repeated, everything is proven. We've been quoted as now able to literally solve shipping's greatest problem, which is how to reduce its fuel consumption, reduce its regulatory costs, and abate its emissions. But SNOX is now at a point where we can just simply start to to ramp up revenues.

22:51 And the the beauty of the product is it's a consumable. So the more customers use it, it's actually cumulative in in revenue. And as a result, we're also getting noticed that in in in the financial press, And I'm pleased to report that we've had back to back to back record quarters now, again, through that mostly marine revenue, but also growing revenues elsewhere. And it's not just the the financial press and the trade press, obviously, now starting to be noticed as as something that can really make a massive difference as we all look for a transition solution.

23:38 And as such, we are nominated for green technologies awards all over the planet. And most recently, I was at ADEPEC, the world's largest energy conference, and we were chosen from 6,000 applicants to to present what is a solution that all of the Middle East countries are now looking to to prolong the use of their fossil fuel products with something that can make them that much greener and address that carbon footprint. But if we look at the marine sector, the companies that have used the product have have not stopped at just putting it in their fleet.

24:30 We now have seven or eight investors from the marine sector who, are, also, investing in the SULNOX shares. Our biggest, shareholder is Constantine Logothetis, formerly of Lomar Shipping, a a previously large container fleet. And then we look at Idan Ofer, a offer from the Eastern Pacific Shipping Group, which I took you through earlier. But there are many others. Is a a large ship broker and trader out of The States, Seaborne, Technava, ship brokers, and suppliers of parts for marine. And then we have Marfin Alex who sits now on our board as well as an adviser and board member for the marine sector.

25:23 And latest to announce was Spring Marine with their 28 vessels to go with Nistad's Norwegian small container ships. And excitingly, though, we're not just thinking about putting SNOX on single vessels or indeed, on single cars or trucks. The next evolution is to to start to premix the product, into the fuel, that, so it's a one to many, transaction for SNOX, increasing our scale of distribution, but also increasing the number of clients we serve.

26:08 If we look at our our journey, last quarter, up 30% on the previous quarter, which was also up on the previous quarter and the previous quarter. So we did in the first half of this year more than we did in revenue in the whole of last year. And this is a trend we expect to continue. If we look to to next year, we have now hired a head of land sales starting on the on the January 1 with the idea that we push into mining. We push into growth in the African markets. We're already in a couple of petrol station chains in Ghana. We're now being sold in small amounts in Nigerian petrol stations. And but the size of that market is huge with population going to be some 800,000,000 by the turn of the century. Just going there, you see the scale of development and the opportunity in both those countries.

27:14 But also, Macquilling, who I just mentioned, helping us to expand not just in main the the main Americas, but also helping us to get into mining and rail and other heavy industries in the whole of South America as well.

27:37 If we look to what we've got in the pipeline, as I mentioned right at the beginning, we have exciting patents. Within those patents, we have the ability to develop products further. And as such, we've set up the SNOX innovations team. This is an r and d arm that we will be developing new products. If you look to the right SNOX reclaim, I mentioned this earlier, today's waste ship slops are very hard to ex to separate out. So when a tanker goes into port and it has its oil washed out, you end up with a large amount of watery oil, as much as 80% of, of the oil of the solution can be, water and 20% oil. But today's processes find it incredibly difficult to split out the water, typically ending up over a many day period with still 10% water in the oil.

28:42 What we're able to do is to push the water out so we have less than 2% water in a matter of hours, and this makes the, the reclaimed oil, that much more saleable. And it's a, estimated to be a $2,000,000,000 market, which also nicely diversifies SULNOX away from its eco product. But we're also thought leaders in biofuels. I mentioned the importance of biofuels and the fact that a lot of shipping companies today are using biofuels fuels because it means that they don't need to pay the regulatory taxes when they sail around around Europe. And whilst the bio fuels may be several times more expensive than traditional fossil fuels, the reduction in regulatory fines may means that they are to be adopted more and more. But why am I telling you this? SNOX has the ability with its emulsification technologies to deal with some of the biggest issues associated with biofuels.

29:52 All fuels are hydrophilic, but biofuels are even more hydrophilic. They love water. And what SULNOX is able to do is to emulsify that water into the biofuels to stop it from separating out. This means the biofuels last longer, and it also means that they will not be corrupted because the the traditional biofuels would allow water to separate out. And then on that line between the water and the fuel, fungus and bacteria would grow and contaminate the fuel. By emulsifying the water into fuel, it means oxidation slows, and it means we deal with that water issue. Biofuels are also inherently unstable. And again, SNOX with today's products, but also as we look to innovate, we'll be able to make those fuels more stable for for a longer period of time.

30:46 So there's a lot of activity in r and d, and the the reality is that the world is going to be burning more and more fossil fuels. Peak oil not until 2040, and then as I mentioned, biofuels expected to be as high as 27% by 2050. So we have a product that's, available today. It can deal with today's, transition, but it will be, very much in demand, for many, many years to come. Then if we look at, what what we've done, we we have, an advisory board, that we've brought in, headed by Constantine, our our largest, shareholder.

31:32 But we have, ambassador Blomfield, who is, an ex security and and adviser to several of vice presidents in The States. His network will help us to grow into The Americas. Similarly, but Nick Diet being known known as, shake Nick has lived in The Middle East for most of his life, and is extremely well connected, and will look to grow our Middle East footprint. Janis is our logistics expert, now advising private equity, and able to help us to to grow, and to deal with our ever

32:20 growing country footprint. And then last but by certainly no means least, four former prime minister candidate, Jugendhat, extremely well connected and very meaningful in his ability to to help us to grow our footprint. But if we look to what we're trying to achieve in addition to the fuel savings and in addition to the emissions reduction and maintenance cost reduction, there is a way to generate further financial benefit from reducing emissions and reducing fuel consumption.

33:07 Very pleased to say we've engaged some some carbon credit consultants to look at the the fact that SNOX is a a solution today to massively impact the consumption of fossil fuels for some of the world's biggest, users. If we look at how effective SNOX is at reducing, the carbon footprint, we have some numbers here, which I'll take you through. When a liter of diesel is is burnt, it will emit, 2.7 kilograms of of c o two. But to dose a liter of diesel with SNOX, the carbon footprint of of SNOX is just 1.94 grams of c o two emitted.

33:55 So if we are taking that example of the testimonial of a generator saving 14 and a half percent, this means that SULNOX can reduce that c o two of 2.6 kilograms by 377 grams of c o two per liter. So if you like, for every gram of SNOX c o two input, we're actually able to remove a 194 grams of c o two. So this is a game changer for those looking to meet their ESG targets, and it's something that we can look to monetize. Even a small reduction in or or as the the the fuel reduction alone in of 5% for marine, if we take a small carbon credit, this means a value of carbon credit. Sorry. This means the product can be paid for with the value of the c o two offsets.

34:58 So what this means is it's going to become easier to sell the product. And I actually believe if we can get carbon credits that the product will be ubiquitous and potentially even put in at a refinery or or country level as a result of this. So in conclusion, super exciting times. We've got a product that works with every combustion engine, all liquid hydrocarbons from the petrol and diesel that you use, all the way through to potentially aviation fuels as well. The product works in any type of engine that's a combustion fossil fuel engine, and it works in every country and can be adapted at scale with our partners, Neurion, who can make the product anywhere in the 80 countries they they currently have a footprint.

35:55 It's a a a company that I'm very proud of because it's giving a tangible solution to the energy transition, but it's also something that saves users money. And if we look to the future, can potentially be transformative in every industrial user being able to reduce their c o two footprint and achieve those goals. So with that, I will end the formal part and be very happy to take any questions. Thank you very Perfect, Ben. That's great. And thank you very much indeed for your presentation this morning. If I may just jump back in there before we move to q and a. But ladies and gentlemen, please do continue to submit your questions just by using the Q and A tab that's situated on the right hand corner of your screen. But just while Ben takes a few moments just to review those questions that have been submitted already, I'd just like to remind you that a recording of this presentation, along with a copy of the slides and the published Q and A, can all be accessed via your investor dashboards.

36:58 Ben, as you can see there, we have received a number of questions that were both presubmitted ahead of today's event as well as those that have come in throughout your presentation this morning as well. So firstly, thank you to all of those on the call for taking the time to submit their questions. And, Ben, at this point, if I may hand over to you just to read out those questions and give your responses where it's appropriate to do so. And if I pick up from you at the end, that would be great. Thank you. Okay. Sure. So thank you very much for for the questions. If I look at the presubmitted questions, there is one here which says, is it to be a continuing position that the company pays off contractors by issuing shares in lieu of payment? We'll answer that first, and then there's a there's a subsequent bit. So, yes, I think as a a company that's not yet profitable, I think, any opportunity we get to reduce salaries, and to give options or indeed to to pay outright, some of our advisers, in shares is a prudent thing to do.

38:00 It tends to be the those that would be the most paid that we would entertain, paying them in shares as well. Second part of the question, what is the reason for selling shares at the nominal price of of 2p? I think this probably relates to the Eastern Pacific deal. So if if we look at what SNOX is is trying to achieve on this deal, it was to secure one of the world's largest shipping fleets with the idea that they would firstly buy the product to generate revenues for us. But and and with the idea that they would, as they are doing, roll out to to more of their fleet, but also that they would be incentivized to introduce those other large shipping companies that that charter the vessels that they own. And to give you an idea, there's some of the world's largest like Maersk and CMA CGM and others there.

39:03 So the the idea was that this was a marquee client and a strategic investor, as I call it, because not only are they able to buy product to drive revenue, but they're also able to introduce new business. And we've been very pleased with how how EPS have helped us both in doing further r and d as well, for instance, with the the 100% biofuels that they tested on. They've also demonstrated test tests that have improved the cleanliness of the engines with photographs and and other mechanical benefits. And then last question here, why are existing shareholders not given the chance to buy additional shares discounted market price if the company needs money?

39:58 Okay. So this is a a recurring question that I I I get. The reality is that the process of allowing, individual investors to, to to jump on, any new fundraise is very onerous. The the if we look at what we have to do, as a company, we have to provide presentations which are verified along with other statements which are verified. And there is a considerable legal cost to this as well. And this is because most retail investors are deemed to be unsophisticated in their nature.

40:45 And what we've been able to do with our shareholder base, particularly in the marine sector that I showed you, is is actually able to to create significant funding that we need with also a a strategic bent. So investors that have come in recently have been able to introduce others and and to generate more revenue. I'm sure though if if you are a sophisticated investor, we can enable through the Allenby, our brokers, channels to to allow you to participate going forward. But Allenby would have to vet you for to to ensure that you are deemed a sophisticated investor.

41:34 Okay. I hope that answers that. Okay. Next question. As EPS are a significant shareholder and clearly believe in SNOX products, why have they not rolled out SNOX their entire 300 vessels fleet? So I think I partially answered this in the in the presentation. The reality is that shipping is very conservative, and EPS has been shown to be the best of the conservative bunch. Starting with eight vessels proving the 5% fuel saving then expanding with a further 30 vessels. We are now in the process of evaluating those improvements that we've seen, be they anecdotal in forms of black smoke reduction or cleaner engines, less issues with purifiers or less sludge, etcetera, or or be they, you know, telematics in nature. So but I'm pleased to say that, you know, that EPS is is now demonstrating those additional savings on those other vessels over now what is a long period of time.

42:48 But shipping is something that has a very long time horizon. They don't ever wanted to to put all eggs in one basket. But the reality is, we've we've now been with them, since April 24, and we are expanding our footprint with them. But I think what's key is it's not just EPS anymore. It's Marfin. It's Crystal Cruises. It's Spring. And we've never had a situation, where those sort of used the the product, and been able to give us decent data where we haven't been demonstrating those fuel savings. So, really, it's it's a matter of time before we see more widespread adoption.

43:35 If I tell you that the regulatory costs burden is becoming ever more punitive, then it's forcing SULNOX to become the simple go to zero zero CapEx solution for these shipping companies. EPS was on stage with me a couple of weeks ago in in Singapore. They've spent $2,600,000,000 trying to decarbonize. They've, put in, telematics to monitor, fuel consumption, the vessels that they have, and why we're so effective at demonstrating fuel savings with EPS is because every twenty seconds, they take an accurate fuel reading.

44:24 But they've tried wind sails. They've tried painting the holes, changing the propellers. And what I've what we determined was SULNOX with its zero CapEx solution is is one of the best saving money without having to take the vessel out of water or spend money on on those expensive capital intensive solutions. Okay. We have some more questions coming in. Is there a restriction on manufacturing capacity? And could you cope with a very large supply if a company such as MSC came to you? So the the the wonderful thing about SNOX is the products are are or the ingredients for the products are are available across the globe.

45:20 And then if you look at our partnership with Neurion with their 80 different factories across the world, it means that we really could make the product anywhere and at any scale. We've talked about volumes with Nurion, and we're now also entertaining the idea of opening a third plant in in Houston to service The Americas as well. But if we wanted to, for instance, open a plant in in Ghana or or Nigeria where they currently don't have a plant, this would be something that Neuron would also entertain with us as well. So a great partner to have both from their existing footprint, which can produce product at scale with no limit, and then also able to open up new plants as the demand might and and and hopefully will dictate.

46:27 Okay. Okay. Thank you for the comments here. A great presentation and video. Thank you. Can you outline the future steps required and likely duration before SNOX ECO may be awarded carbon credits? Well, we're actually looking at this from a couple of different angles. So the the consultants that we've hired we've actually hired a a couple of different companies. If if we look at carbon credits, the first thing that is being done is the methodology by which we've currently demonstrated fuel savings. This will then get audited and will be determined that it's an applicable way of measuring fuel reduction.

47:18 The good news is that by using internal sorry, independent companies like Socotech and Curateri, we've actually already got bonafide case studies which are demonstrating the effectiveness of SNOX in reducing emissions and both greenhouse gases and particulates. So by being a data heavy company and trying to do scientific data collection and independent monitoring of emissions, we've actually done a lot of the heavy lifting already. And we've got now so many testimonials across trucking and generators and, and obviously shipping, that, we we can really, you know, pull together a database which demonstrates how, effective the product is and the averages that we see.

48:11 So the next steps are to to write this up, to have it audited by one of the certification bodies, and then to try and find partners to to support that journey into monetizing the the carbon credits. It's probably going to take six to nine months, but we're hopeful that there are some changes in the Paris agreements that are gonna make products like SNOX much more coming to the fore in terms of carbon credits. If we if we look at the the voluntary market, which this would be for us, the the market's been burnt a lot in the past by the potential of planting a forest that may one day get planted, that may one day sequester carbon.

49:06 This is the type of model that the the that's the voluntary credit markets push back against. Whereas we've got, you know, bonafide data around fuel consumption reduction and emissions reduction. So able to make an immediate impact today, and this is why we think that with the new changes to the to the Paris Agreement and the UN protocols that we'll be able to to to help here. But this the other company that we've we've invested in looks at it slightly differently. So this is to help companies reduce their scope three emissions. And if you've got a company I'll pick a random example, a big supermarket chain who has fleets of trucks and and and other logistics that service it.

50:05 The supermarket chain is is actually responsible for the emissions that that logistics chain generates. It's called scope three emissions. And what we are hopeful of with this other company is that we can encourage or get the the ability for the large supermarket chains to encourage the use of SNOX in their fleets through processes such as as insetting. Again, it it takes some certification that we can reduce fuel consumption and emissions, But given we already have that, we hope that this is going to be another way to market. And companies find it very difficult to abate their scope three emissions, but obviously, SNOX is a simple pour in zero CapEx solution, so we hope that that will also gain traction very quickly as well.

51:02 Okay. Okay. Next question. With the increasing awareness of SNOX ECO, do you have any new customers that simply start to use the product or do or require a trial period? So I can I can tell you that we now have incoming inquiries, you know, almost every day? And a lot of the time now, I've read about you in Tradewinds, which I I I mentioned was the go to magazine for for shipping. And we do have increased uptake as as well. It might not be full fleet rollouts straight away, but there's certainly a move towards we we want to try the product. We've read about it. We see how effective it is as well. And we also have others that come out of the blue that say we've been trying the product for a year.

52:04 Obviously bought it through through Amazon or or our website and seeing tremendous results and now want to push it into their into their client base as well. But what I perhaps didn't mention is SNOX's model is to have a a hub and spoke model. So SNOX GROUP at the hub will always have, only a small amount of, of staff. And once we get to, to critical mass, the the costs will, stay the same. And this is because we have a distributor and introducer model. So our sales capacity is just to service the clients that come direct to us and to support our distributors and introducers.

52:58 And if we look to 2026, we already mentioned that we have companies like McQuilling. I briefly mentioned Clear Sky up in in Canada who already have a Salesforce buy the product and sell to their network. What we're now looking to do is to find these distribution partners who are able to guarantee purchases of SNOX on a regular basis across the globe and then sell to to their network. So the idea is we keep costs low, but we take our, cumulative subscription product and generate more and more revenues.

53:43 And if we look at revenues, I don't expect them to grow linearly as as we've seen. I actually see step changes as companies do adopt following successful for successful trials. Okay. Next question or another one that I get a lot of the time. Do Do you anticipate moving to the AIM market in the foreseeable future? It should increase the potential for broadening awareness of the company in the market and expanding the shareholder base. Okay. This is, as I said, a a question we get a lot. I I can tell you that the company's focus today is is revenue.

54:29 I truly believe that if we achieve the revenue and get to to profitability, which we hope to do in in the coming twelve to eighteen months, the investors will find us. However, what I will say is that, you know, as a as a board, we're always looking at ways where we can attract more investors in the secondary market and to obviously grow the the share price for all. So we continuously look not just in The UK, but we also consider The Americas, perhaps Singapore, which is the home of of of shipping or even maybe The Middle East given the ability of SNOX to to to help with the the oil there. So I I I obviously won't commit to anything here, but I will say that we constantly look and as part of good governance processes.

55:34 And there are lots of advantages to potentially to to to move to whichever location, but I think the focus today needs to be on generating revenue, and then we can potentially move as necessary in the future. Okay. Next question. Does SNOX ECO work with petrol and diesel engines? Does it work differently for petrol engines? Is there a specific conditioner for petrol engines? So, yes, SNOX works with both diesel and petrol engines and indeed the largest marine two stroke and four stroke engines as well. The the product is SULNOX ECO is the same for both uses in petrol and diesel.

56:27 What changes is that because ethanol is now part of petrol, we have e 10 petrol, 10% ethanol in our petrol in The UK. I see India has just moved to e 20, which is causing all sorts of issues. Let me explain why. So we are actually just changing the dosage of SNOX from one to two thousand to one to one thousand. So if you want to put 50 liters of petrol, you need 50 milliliters of of SNOX. And the reason we do this is because ethanol loves water. It will be attracted to water and sit at the bottom of your fuel tank where the fuel line comes in. By adding more SNOX or increasing the dose, we're actually able to emulsify the water into the petrol and then to take it into the fuel combustion chamber where the secondary atomization will improve combustion, reduce consumption, and and emissions.

57:26 So, yes, absolutely works with both types of engines. And as I mentioned, works with other different liquid hydrocarbons, including gas to liquid technologies as well. Okay. Okay. I think, actually, we are Jake, we're struggling for time now. And the quick quick question, where can I buy SULNOX ECO? Well, there's a there's a buy now button on our website, which takes you to the shop as well. And if I if I may just jump back in there. Thank you very much indeed for being so generous for your time and addressing all of those questions that came in from investors this morning. And, of course, if there are any further questions that do come through, we'll make these available to you immediately after the presentation has ended just for you to review to then add any additional responses, of course, where it's appropriate to do so. And we'll publish all those responses out on the platform.

58:23 But, Ben, perhaps before really now just looking to redirect those on the call to provide you with their feedback, which I know is particularly important to yourself and the company. If I could please just ask you for a few closing comments just to wrap up with, that'd be great. Okay. Well, yes, thanks everybody for your attention and your your informed questions. Just in in in close, this is an incredible company. I'm so privileged to be able to to run it. It really is the right stock at the right time. We're able to make such a meaningful impact on the the energy transition and to be able to help customers reduce their fossil fuel footprint and and decarbonize to really achieve their sustainability goals overnight.

59:10 So thank you for those that are existing shareholders for your support and your ongoing interest, and hope that we can convince many others of you, to really appreciate the size and the opportunity of this market, and, the amazing products which are, SNOX. Perfect, Ben. That's great. And thank you once again for updating investors this morning. Could I please ask investors not to close this session as you'll now be automatically redirected for the opportunity to provide your feedback in order the management team can really better understand your views and expectations. This will only take a few moments to complete, but I'm sure it'll be greatly valued by the company. On behalf of the management team of SULNOX GROUP PLC, we would like to thank you for attending today's presentation.

59:58 That now concludes today's session, so good morning to you all.