Constantine Logothetis has increased his stake in Sulnox after the green fueltech company more than doubled revenues in the year to March.
The shipping investor now holds, directly or indirectly, voting rights over 36.6 million Sulnox shares, representing 28.76% of the company. A holding of 29.9% is typically the level above which a shareholder is obliged to make an offer for the entire share capital.
Mr Logothetis previously held 34.8 million shares, a 27.4% stake. He first invested in Sulnox in June 2023, steadily increasing his holding in line with progress.
Sales momentum at Sulnox has been boosted by its 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 UK business and signed a major product supply deal.
Accelerating global regulation of maritime emissions is increasing the immediate opportunity for Sulnox. While shipping companies explore alternative energy sources, Sulnox’s patented, organic fuel conditioner is able to offer both instant cuts in emissions and lower fuel usage, with no capex required.
Longer term, Sulnox is an enabler of biofuel adoption in shipping. It improves oxidative stability, enhancing combustion to reduce emissions, while improving storage and engine health.
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.
source: cyprusshippingnews.com
