ECOSLOPS is Planning to Establish a New Recycling Plant in the Port of Constanta, on the Black Sea

Regulatory News:

ECOSLOPS (Paris:ALESA) (ISIN: FR0011490648; Ticker: ALESA / PEA-PME eligible), an innovative technology company that transforms maritime transport oil residues (slops and sludge) into new recycled marine fuels, today announces that it has signed a Letter of Intent with Grup Servicii Petroliere, a leading offshore drilling and construction company, to explore the feasibility of creating an oil residue recycling plant in the Romanian Port of Constanta, on the Black Sea.

Vincent Favier, CEO of ECOSLOPS, says: "The proven operational efficiency of our first industrial plant in the Port of Sinès, which recycles over 98% of slops collected, and the subsequent sale of marine fuel and light bitumen products validate our business model and have given us the confidence and springboard to ramp up our expansion projects. The Port of Constanta is ideally located and GSP is the ideal partner to collaborate with on the development of this significant project, given their wealth of industrial experience and in-depth knowledge of the region.”

ECOSLOPS has just signed a Letter of Intent with Grup Servicii Petroliere (GSP), a group well established in the Port of Constanta, to explore the feasibility of creating an oil residue recycling plant in this Romanian port on the Black Sea. Subject to a positive outcome of the feasibility study, ECOSLOPS and GSP will form a joint venture to implement the project, from building and managing the plant to selling its products.

The Port of Constanta, on the west coast of the Black Sea, is one of the main petroleum product distribution centers for Central and Eastern Europe, and is directly connected, via the Black Sea – Danube and Danube – Rhine major waterways, to the Port of Rotterdam, where GSP has an office. The Petromidia Refinery, owned by KazMunayGas and Rompetrol, with an annual capacity of 5MT, is also located in the vicinity of the Port of Constanta. Once operational, this new plant could notably collect maritime transport oil residues from Bulgarian, Turkish, Ukrainian, Russian and Georgian ports.

This project follows the successful implementation of industrial production at ECOSLOPS’ plant in the Port of Sinès, Portugal, and the first sale of marine fuel products and light bitumen. It strengthens ECOSLOPS objective, announced at the time of its IPO, to bring three more facilities on line by 2017. ECOSLOPS is thus continuing to develop its facilities in the Ivory Coast and is pursuing discussions with major operators to scope other opportunities in the Mediterranean and Northern Europe.

Next press release: 2015 annual revenue, on February 8, 2016

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About ECOSLOPS (http://www.ecoslops.com): ECOSLOPS has developed a unique technology to transform oil residues from shipping (slops and sludge) into new recycled marine fuels. The Company’s ambition is to establish itself as major player in the treatment of marine hydrocarbon waste. The ECOSLOPS solution is based on a perfect knowledge of the processes of collection, treatment and recycling of slops and sludge. ECOSLOPS offers an economic and ecologic solution to port infrastructure, waste collectors and ship owners through industrial scale treatment unit they develop and operate. The first industrial unit is based in Sinès, first commercial port in Portugal.

ECOSLOPS is a public listed company on Alternext in Paris (ISIN: FR0011490648; Ticker: ALESA) and is PEA-PME eligible.

About GSP (http://www.gspoffshore.com): Established in 2003, GSP is a group specialized in the offshore drilling and offshore construction with onshore fabrication facilities and shipyards located in the ports of Constanta (Central, North - Midia and South - Agigea) and provides multidisciplinary engineering services with GSP Engineering and Maris Engineering SRL (Milano - Italy). With more than 2,500 employees, GSP has been contracted by the EMSA (European Maritime Safety Agency, based in Lisbon - Portugal) to be their local operator in case of major oil spills in the EU waters of the Black Sea, and has conducted projects for ExxonMobil, Total, Repsol, Rosneft, Lukoil, OMV-Petrom, etc.

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