EMEA News
Ecoslops' Turnover Down, Upbeat Outlook on new Product
Waste oil recycling firm Ecoslops posted a reduced turnover in 2023 over the previous year.
Turnover over the period fell by 32% to EUR 13 million ($14m), according to the company's unaudited accounts.
Looking ahead the company is pushing its Scarabox business.
"Scarabox responds to a recognized need to process used oils in an environmentally-friendly way," according to Ecoslops.
"The local production of basic energy products through a circular process provides a sustainable outlet for this harmful waste."
The company said that it will have the "financial and human resources needed to complete the work in Cameroon with Valtech Energy, a full-scale demonstrator of the technology, and to develop its pipeline of new business".
The sale of a Scarabox is expected this year in the Ivory Coast following positive results from a local market study.
Ecoslops Provence is to be wholly owned by minority shareholder Total Energies once the transfer of majority stakeholder Ecoslops SA goes through at the end of the month, the company said.
