PARIS--(BUSINESS WIRE)--Regulatory News:
Ecoslops (ISIN: FR0011490648; Ticker: ALESA / PEA-PME eligible) (Paris:ALESA), an innovative technology company that upgrades ship-generated hydrocarbon residue, or “slops”, into valuable new fuels and light bitumen, announces a change in its governance.
Ecoslops today announces that it has noted Michel Pingeot’s intention to stand down from his position as Chairman of the Board of Directors effective November 15, 2016, following his divestment of a 3% stake in Ecoslops to SOPREMA, a leading global player in waterproofing, insulating and protection for buildings. Michel Pingeot will be put forward as censor and Honorary Chairman of the Board so that the Company can continue to benefit from his expertise. Michel Pingeot is behind the innovation that enabled the Company to be created. He was the driving force during the construction and launch of the first industrial site in Sinès, Portugal. He deserves wholehearted thanks for the vision he has deployed and the energy he has provided to this innovative project, which has made it possible to design a truly technical, commercial and sustainable solution to the processing of ship-generated hydrocarbon residue.
As a result of this resignation, the Board of Directors met today and agreed to appoint Vincent Favier, the Company’s current CEO, as the new Chairman of the Board effective November 15, 2016.
Finally, following SOPREMA’s investment, Pierre-Etienne Bindschedler, President of the SOPREMA group, has been co-opted as a Board member by the Board of Directors effective November 15, 2016, pending the ratification of his appointment by the Shareholders’ Meeting to be held in 2017.
About Ecoslops: 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 economical and ecological solution to port infrastructure, waste collectors and ship-owners through its processing plants. The first industrial unit (30,000 tons/year) is based in Sinès, Portugal’s largest commercial port.
Ecoslops is listed on Alternext in Paris (ISIN: FR0011490648; ticker: ALESA) and is PEA PME eligible.