PARIS--(BUSINESS WIRE)--Regulatory News:
Ecoslops1 (Paris:ALESA), an innovative technology company that upgrades ship-generated hydrocarbon residues, or “slops”, into valuable new fuels and light bitumen, today announced that is has signed an agreement with TOTAL Group to set up a maritime transport induced oil residue waste-processing unit at La Mède, near Marseilles in the Bouches-du-Rhône. This agreement comes after the successful completion of technical and commercial studies, which commenced last year and were announced as a Memorandum of Understanding (MOU) in September 2016.
ECOSLOPS will build and operate the micro-refinery in La Mède, while TOTAL will provide services and all necessary utilities. The valuable commercial products (new fuels and light bitumen) produced by the unit will be sold on local or international markets.
The building of the unit is expected to start during the second quarter of 20182, and the unit should be operational by the end of 2018.
Regarding the agreement, François Bourrasse, Director of Total’s La Mède, commented: "The construction of the oil residue regeneration unit confirms the attractiveness of the site of La Mède, and the surrounding region. In addition, it is part of the circular economy approach initiated in PACA, which is both innovative and forward-thinking."
Vincent Favier, Chairman and CEO of Ecoslops, declared: “ECOSLOPS is very pleased with the support of TOTAL Group in the implementation of this project, which will be Ecoslops’ second micro-refinery unit, and also based in the largest French port. Our objective is to contribute positively to the commercial attractiveness of the oil residue collection industry in the Port of Marseilles, encouraging strict traceability of slops, and creating sustainable markets for the industry players. Ecoslops’ unique and innovative technology to upgrade slops into valuable products, compliant with the strictest international standards, can achieve these objectives and meet the priorities of the circular economy.”
About Total La Mède:
Total is a global integrated energy producer and provider, a leading international oil and gas company, and the world’s second-ranked solar energy operator with SunPower. 96,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, Total focus on ensuring that operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.
About Ecoslops (http://www.ecoslops.com):Ecoslops has developed and implemented a unique technology to upgrade maritime transport oil residues (slops and sludge) into new fuels and light bitumen. The solution proposed by Ecoslops is based on a unique micro-refining industrial process that transforms these residues into commercial products that meet international standards. Ecoslops offers an economic and ecological solution to port infrastructure, waste collectors and ship-owners through its processing plants. The first industrial unit (30,000t/year) is based in Sines, Portugal’s largest commercial port.
Ecoslops is listed on Alternext in Paris (ISIN: FR0011490648; ticker: ALESA) and is PEA PME eligible.
Follow us on Twitter @Ecoslops.
1 ISIN: FR0011490648; Ticker: ALESA / PEA-PME eligible
2 Subject to obtaining the building and operating permits and necessary financing