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Ecoslops, a technology company that upgrades ship-generated hydrocarbon residues, or 'slops', into fuels and light bitumen, today announced that is has signed an agreement with Total to set up a maritime transport-induced oil residue waste-processing unit at La Mede, near Marseilles.

The agreement comes after the completion of technical and commercial studies, which commenced last year and were announced as a memorandum of understanding (MoU) in September 2016.

In the deal, Ecoslops has agreed to build and operate the micro-refinery in La Mede, while Total will provide services and all necessary utilities. The commercial products (new fuels and light bitumen) produced by the unit are to be sold to local or international markets.

The building of the unit is expected to start during the second quarter of 2018 - subject to obtaining the building and operating permits and necessary financing - and the unit is slated to be operational by the end of 2018.

Commenting on the agreement, Francois Bourrasse, Director of Total's La Mede, commented: "The construction of the oil residue regeneration unit confirms the attractiveness of the site of La Mede, and the surrounding region. In addition, it is part of the circular economy approach initiated in PACA, which is both innovative and forward-thinking."

Vincent Favier, chairman and CEO of Ecoslops, remarked: "Ecoslops is very pleased with the support of Total Group in the implementation of this project, which will be Ecoslops' second micro-refinery unit, and also based in the largest French port. Our objective is to contribute positively to the commercial attractiveness of the oil residue collection industry in the Port of Marseilles, encouraging strict traceability of slops, and creating sustainable markets for the industry players. Ecoslops' unique and innovative technology to upgrade slops into valuable products, compliant with the strictest international standards, can achieve these objectives and meet the priorities of the circular economy."