Ecoslops: EUR 18 million financing. File image/pixabay
Waste fuel recovery firm Ecoslops has secured finance from European Investment Bank (EIB), the company has said.
EIB will make up to EUR 18 million ($20m) available to the company.
Chief executive Vincent Favier said the arrangement will make Ecoslops financially stronger and will "enable us to pursue our plans of growth in order to remain world leaders in our markets".
The funds will go towards company projects in Marseilles and Antwerp as well as for research and development, the executive added.
The company's business model takes waste oil from ships to turn it back into a useable product.