PARIS, FRANCE: Ecoslops has signed an agreement with Mercuria Energy Group, one of the largest global independent energy traders with a presence in 50 countries and more than US$100 billion of revenue.
Ecoslops and Mercuria will work jointly on a feasibility study for developing collection and recycling port infrastructure in the Middle East and South East Asia regions that would meet the highest standards of service and compliance using state-of-the-art technology.
Those strategic locations comprise some of the world’s largest trading and storage hubs representing large volume opportunities for developing a comprehensive marine service offer around the recycling of marine waste oil.
The two parties believe this partnership presents substantial prospects for value realization based on investments in MARPOL-compliant port reception facilities, including a treatment facility, in a context where increasingly stricter local and international regulations are being considered and market rationalization required to reinforce international framework for the preservation of the marine environment.
Within the partnership, Mercuria will not only bring the strength of its commercial set-up in those regions but also the expertise and logistics assets of its subsidiary Minerva Bunkering, a global leader in marine fuel services.
Ecoslops 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 more ecological solution to port infrastructure, waste collectors and ship-owners through its processing plants.