Ecoslops in EUR 18 million financing from European Investment Bank
The European Investment Bank (EIB) has agreed to provide financing of a maximum of EUR 18 million to French oil residue recycling firm Ecoslops.
“Ecoslops is proud to be able to count on the EIB and its teams to support it in its European development,” said Vincent Favier, CEO of Ecoslops.
“We welcome the recognition by a major European Union institution of the environmental excellence of the Ecoslops solution which sets up a virtuous circular economy model in the context of energy transition.”
The investment amount will be used for Ecoslops’ Marseille and Antwerp projects as well as for corporate research and development needs, and projects that follow such as the P2R micro-refinery unit.
“Ecoslops promotes a lower consumption of primary fossil energy and reduces CO2 emissions through the reuse of available hydrocarbon waste,” adds Favier.
“Ecoslops’ financial situation is therefore stronger – this will enable us to pursue our plans of growth in order to remain world leaders in our markets.”
Related: Ecoslops to start waste oil collection operations at Port Said in 2019
Related: Egypt: Ecoslops starts study on vessel waste oil recovery
Photo credit: European Investment Bank
Published: 12 February, 2019
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