ECOSLOPS announced in its H1 2016 operational report that it is on track to meet its annual target of producing at least 30,000 tons of regenerated slops in 2017 from its industrial site in the Port of Sinès. The company has also received its first backing from a Portuguese bank in the form of €1 million in medium-term (4 years) financing.
Vincent Favier, CEO of ECOSLOPS, said:
“In the year since the official inauguration of our site in the Port of Sinès, its successful performance is clear to see. Having proven its industrial efficiency by recycling and upcycling over 98% of the hydrocarbon residue collected, we can confirm that the monthly production target of 2,500 metric tons will be reached by the end of 2016 and that at least 30,000 tons will be produced in 2017, meeting our initial objective.
Simultaneously, our prospective and development projects and partnerships are progressing well. This industrial and commercial momentum further increases our confidence, and we are reiterating our objectives of signing deals for three new sites by the end of 2017 and seeing our Sinès site break even by the end of 2016.”
In conjunction with the regular acquisition of clients on a monthly basis, the Sinès plant which is the world’s first plant that is capable of transforming maritime slops into commercial products, continues to deliver a regular increase in its production throughout 2016.
In April and May it produced almost 2,100 metric tons a month. In June 2016, after a year of operation, ECOSLOPS also successfully carried out an in-depth technical verification of its installations, and no issues were found.
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