H1 2016 operational report shows target of 30, 000 tons per annum will be delivered by year-end 2017, as production is ramped up in line with expectations. Company also signs first medium term financing of €1 million with Portuguese bank.
Since establishing itself in the Port of Sinès, ECOSLOPS has developed a win-win partnership with ship owners (notably MSC) that call in the port to discharge their slops. The quality of service provided by ECOSLOPS, as well as competitive prices have enabled the amount of slops collected each month to grow from 400 metric tons (dehydrated) to more than double that figure today. This demonstrates that ECOSLOPS can substantially boost the collection of local slops due to the proven viability of its business model, which is based on transforming slops into commercial products, rather than on the high collection prices that have to be paid by shipping companies elsewhere. Implementing ECOSLOPS’ model on a widespread basis will serve to drive the sustainable disposal and regeneration of slops across the shipping industry.
The inability of traditional collectors to find long-term outlets for hydrocarbon waste has led to a slump in slop prices in Northern Europe. ECOSLOPS has capitalized on this situation by supplementing its supplies through the regular importing of slops. In June 2016, the site took delivery of a fourth tanker in order to allow the plant to rapidly increase its activity. Since the first tanker delivery in August 2015, the average cost of imported slops (including transport) has fallen by 70%. Expressed as a percentage of the average selling price of products, the standard gross margin has more than doubled, enabling the company’s business model to be strengthened during a time of low crude prices.
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 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.