Singapore-based EPS to invest in SulNOx, adopt fuel conditioner on at least 30 vessels

Maritime green tech firm SulNOx on Monday (13 January) said it has signed an agreement with Singapore-based Eastern Pacific Shipping, which encompasses both investment into SulNOx and a major new product supply contract for its SulNOxEcoTM fuel conditioner (SulNOxEco).

The agreement follows an extensive eight-month successful evaluation of SulNOxEco on various EPS-managed vessels including container ships, tankers, bulk and gas carriers. EPS Ventures Pte. Ltd. (EPSV) will also become a strategic shareholder in SulNOx. 

Under the agreement, EPS, which manages a diverse fleet of over 300 vessels on water and on order, will adopt SulNOxEco on a minimum of 30 vessels for a minimum of 18 months use per vessel. 

EPS will also provide information in relation to the results of the evaluation, which the Company will be able to use in its marketing activities, along with the ongoing support of EPS. 

In addition, EPS will also collaborate with and act as an introducer for SulNOxEco, to some of the world’s largest shipping companies. The agreement itself will generate significant revenue and secure committed minimum product volumes of 250,000 litres. Further, the Board anticipates attracting additional customers and driving substantial further revenue growth.

Cyril Ducau, Chief Executive Officer of EPS, said, “This partnership with SulNOx is a significant step towards achieving EPS’s long-term sustainability objectives. By enhancing our operational efficiency and reinforcing our commitment to meeting global environmental standards, this collaboration further solidifies our position as a proactive leader in sustainable shipping practices.”

Radu Florescu, Chairman of SulNOx, said, “Signing the marquee shipping name of EPS after an extensive evaluation period proves the effectiveness of SulNOx products beyond doubt at a time when the industry is crying out for solutions to reduce fuel consumption and associated emissions against a backdrop of increasing regulation.”

“With this partnership, not only have we secured substantial, committed revenues, but there is also significant additional potential revenue from EPS’ introductions to some of the world’s largest fleets. This transaction marks a new and transformative era for the SulNOx Group, and we look forward to a long and mutually beneficial partnership with EPS, delivering the energy transition together.”

Related: SulNOx gains new patent in Singapore, reports ‘record’ first quarter

Photo credit: SulNOx
Published: 14 January, 2025