Ecoslops, the first company to develop technology to produce recycled marine fuels and light bitumen (XFO) from marine oil residues (known as slops), has announced that it is on track to meet its annual target of producing at least 30,000 tonnes of regenerated slops in 2017 from its first plant at the Port of Sinès site in Portugal.
Since opening, the facility has been successful in providing recycling and upcycling in over 98% of hydrocarbon residue collected, meaning that the first production target of reaching 2,500 metric tonnes of recycled slops by the end of 2016 is well on its way to being met.
In April and May this year, the Sinès facility produced almost 2,100 metric tons a month, while previously starting out collecting just 400 metric tonnes a month, giving the company confidence that the monthly output of 2,500 metric tonnes by the end of 2016 is possible.
It was also recently announced in June 2016, following a year of operation, that Ecoslops has carried out an in-depth technical verification of its installations, with no issues to be found.
Ecoslops has also announced the continued commercial and industrial successes, such as receiving its first backing from a Portuguese bank for EUR 1 million in medium-term financing (over 4 years).
Their business model has also proven its viability, boosting the collection of local slops even when cruise prices are low by transforming slops into commercial products, rather than on the high collection prices that have to be paid by shipping companies elsewhere. Ecoslops hopes that implementing its model on a widespread basis will help drive sustainable disposal and regeneration of slops across the industry.
Vincent Favier, CEO of Ecoslops, commented: “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.”
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