Sulnox has raised £2m in gross equity funding mainly from a customer backed subscription. The funds will be used to support working capital and further investment into the business. While on our estimates, Sulnox was funded through to profitability, the additional funding from a current client demonstrates its faith in Sulnox's Sulnox Eco fuel conditioner. Moreover, the additional funding strengthens Sulnox's balance sheet supporting a more rapid build out of its marine and land-based markets together with further R&D development. We forecast Sulnox to be profitable from FY28 with the potential for very rapid escalation thereafter.
