ECOSLOPS Granted An Agreement In Principle From The Port Of Abidjan To Establish A Recycling Plant

ECOSLOPS, an innovative technology company that recycles maritime transport oil residues (slops and sludges) into marine fuels and diluted bitumen, announces that it has received an Agreement in Principle from the port of Abidjan to provide it with land on which to construct a recycling plant.

Vincent Favier, CEO of ECOSLOPS, says: “Following the signing of a Letter of Intent to explore the feasibility of constructing an oil residue recycling plant in the port of Constanta, this latest agreement with the port of Abidjan, which will provide ECOSLOPS with land to build a new plant, further reinforces the Company’s ambition, announced at the time of its IPO, to have three new projects signed by 2017. The Ivorian authorities and the Autonomous Port of Abidjan have been interested in our know-how since the outset, and this site represents our best opportunity to establish a presence on Africa’s west coast given this port’s size and buoyant growth. In order to make the most of this project’s potential, we intend to form partnerships with local industrial and financial players.”

ECOSLOPS has received a Letter from the Autonomous Port of Abidjan granting it 5 hectares of land within the port area. ECOSLOPS will now be able to undertake the necessary financial and technical studies relative to the establishing of a recycling plant and will begin the search for local partners.

This project in Ivory Coast follows the successful demonstration of the capacity of the Company’s Portuguese industrial tool in Sines, which recycles over 98% of the oil residues collected, with the first sale of marine fuel and light bitumen, and the signing of a Letter of Intent to explore the feasibility of constructing a recycling plant in the Romanian port of Constanta, on the Black Sea. Building on these initial successes, ECOSLOPS is pursuing discussions with major port operators to scope further opportunities in the Mediterranean and Northern Europe.