EMEA News
Ecoslops Identifies 40K Mt Waste Fuel Oil Market on Suez Canal
Waste fuel from ships transiting the Suez Canal amounts to tens of thousands of metric tonnes (mt) a year, according to niche fuel oil recycler Ecoslops.
And that waste product from ships offloading used oil, which is called slops, can be turned back to useable fuel oil via the company's micro-refining process.
"The potential for recovering oil residues [from ships] transiting the Suez Canal is estimated at more than 40,000 mt per year, based on 18,000 passages," the Paris-listed company said in a statement.
In addition to the commercial potential, the company says that ship operators can trace their hydrocarbon waste via the project's collection and waste treatment service.
The French government has given a grant towards a feasibility study of the project following the agreement signed last year with the state-owned Egyptian General Petroleum Corporation.
Ecoslops raised EUR 5 milion on the capital markets in October.
