ECOSLOPS, a company that upgrades ship-generated hydrocarbon residue into valuable marine distillates, has seen a technically successful upramping their micro refinery.
However, the plant is not yet fully utilized due to ‘logistical and commercial’ delays the company admitted when announcing their 2015 results.
They believe they are on track to be operating fully by the end of 2016 with a monthly production target or 2,500 tonnes. The aim is for their production site to be break-even in this year.
There is still some way to go however as, there net loss was -€5.8 million in 2015, compared with a loss -€2.8 million in 2014.
There was an initial undersizing of logistics and storage capacities also combined with a longer-than-expected time taken for the qualification of products.
However, whilst the dramatic drop in oil prices had a negative impact for many, ECOSLOPS see it as positive for their work despite also having had to adjust their business model.
They say that in order to anticipate and benefit from current purchasing conditions, they continue to buy slops and, following the 6,300 tons bought in 2015, the Company purchased and imported 3,700 tons in the first quarter of 2016.
“In the face of a market situation marked by the increasing inability of ports and port operators to adapt to the growing disinterest of end users in slops, our technological solution, now established and visible, is proving to be the only long-term alternative to this problem” says Vincent Favier, CEO of ECOSLOPS.
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