Ecoslops, the first company to develop technology to produce recycled marine fuels from marine oil residues (‘slops’), today announces that it has received an agreement in principle from the Port of Abidjan, in the Ivory Coast, to provide the company with land on which to establish a new oil residue recycling plant in the region.
Vincent Favier, CEO of ECOSLOPS, says: “The authorities within the Ivory Coast, and the Port of Abidjan have shown significant interest in both our unique technology and expertise. With the growth of the port and its position as the gateway to the subcontinent, developing a recycling plant in the region represents the best opportunity for Ecoslops to establish a strong foothold in West Africa. As we look to develop the project, our focus is on establishing strong local partnerships on both an industrial and financial basis to ensure we maximise the value of the opportunity. In conjunction with the recent signing of a Letter of Intent for the construction of a recycling plant in the Port of Constanta, Romania, this latest development works towards further meeting our objective to have three new projects signed by 2017, as highlighted in our IPO.”
The Abidjan Port Authority has granted Ecoslops with five hectares (ha) of land within the port boundaries. Ecoslops will now begin preliminary studies and analysis to evaluate the full financial and technical considerations of the project, and establishing relationships with local partners.
The Ivory Coast project follows the successful implementation of industrial production at Ecoslops’ first plant in the Port of Sinès, Portugal, which recycles over 98% of slops collected, as well as the first sale of marine fuel products and light bitumen. In December 2015, Ecoslops also signed a Letter of Intent to explore the feasibility of creating an oil residue recycling plant in the Romanian Port of Constanta, on the Black Sea. The companyis continuing to pursue discussions with major operators to scope further opportunities in the Mediterranean and Northern Europe.
About ECOSLOPS (http://www.ecoslops.com): ECOSLOPS has developed a unique technology to transform oil residues from shipping (slops and sludge) into new recycled marine fuels. The Company’s ambition is to establish itself as major player in the treatment of marine hydrocarbon waste. The ECOSLOPS solution is based on a perfect knowledge of the processes of collection, treatment and recycling of slops and sludge. ECOSLOPS offers an economic and ecologic solution to port infrastructure, waste collectors and ship owners through industrial scale treatment unit they develop and operate. The first industrial unit is based in Sinès, first commercial port in Portugal.
ECOSLOPS is a public listed company on Alternext in Paris (ISIN: FR0011490648; Ticker: ALESA) and is PEA-PME eligible.