Sulnox markets patent protected zero capex, drop-in fuel conditioners which cut emissions and generate high customer returns through reduced fuel consumption from improved combustion. Sales are now accelerating into a vast potential total market – FY25 revenues doubled YoY. Moreover, Sulnox has signed key partnerships this year most notably with Eastern Pacific Shipping and it has just announced a global distribution agreement with Drew Marine. We forecast the company to achieve cash flow neutrality in FY27 and, following a recent £1m equity raise, be funded through to profitability in FY28 with the potential for very rapid escalation thereafter. Markets are now waking up to the potential, yet the company still has a modest market capitalisation relative to Quadrise, its nearest analogue which is targeting a fraction of the market and has no current revenue generation.