Ecoslops - The European Investment Bank (EIB) finances Ecoslops up to €18M for its development
- Financing projects in Marseille, Antwerp and R&D needs
- Reinforcing our position as innovative leader which 'brings oil into circular economy'
- Ecoslops is amongst French '2019 Growth Champions'- according to newspaper Les Echos
Paris, February 11th, 2019 - 7.15 am
Ecoslops is delighted to announce the agreement of the EIB for a financing of a maximum of 18 million euros. Such financing will be used for both Marseille and Antwerp projects as well as for corporate R&D needs, up to 50% of the investment amount, in addition to traditional bank financing. Such financing will allow the company to dedicate its current corporate resources (more than 7 million euros at the end of 2018) to the projects that will follow Marseilles and Antwerp's (Mini P2R, new P2R.).
Vincent Favier, CEO of Ecoslops declared:
"Ecoslops is proud to be able to count on the EIB and its teams to support it in its European development. 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. Ecoslops promotes a lower consumption of primary fossil energy and reduces CO2 emissions through the reuse of available hydrocarbon waste. 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. Concomitantly, Ecoslops is also honored to be selected in the ranking of Les Échos "Champions of Growth 2019".
Ecoslops is listed on Euronext Growth in Paris
Code ISIN : FR0011490648 - Ticker : ALESA / PEA-PME eligible
Investor Relations : email@example.com - 01 83 64 47 43
Ecoslops is the cleantech that brings oil into circular economy thanks to an innovative technology allowing the company to upgrade oil residues into new fuels and light bitumen. The solution proposed by Ecoslops is based on a unique micro-refining industrial process that transforms these residues into commercial products that meet international standards. Ecoslops offers an economic and ecological solution to port infrastructure, waste collectors and ship-owners through its processing plants.