AlphaValue Corporate Services Fundamental Analysis FR
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This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

Ecoslops

CR
Bloomberg   ALESA FP
Other Energies  /  France  Web Site   |   Investors Relation
The cleantech making oil residues green
Target
Upside 189%
Price (€) 8
Market Cap (€M) 35.3
Worth Knowing
Ecoslops’ history

Ecoslops’ Petroleum Residue Recycling (P2R) process was co-invented by Michel Pingeot (at the time Chairman of Heurtey Petrochem), Jean-Claude Company and Pascal Bonfils. The engineering, tests and feasibility studies from 2006 to 2009 led to the setting up of a pilot plant on a 1:42 scale.

Ecoslops was founded in 2010 to deploy the technology on an industrial scale.

In 2012, the company signed a 15-year sub-concession contract in Sines (Portugal) with port utilities provider CLT (subsidiary of Galp Energia). In 2013, the group started to build its industrial-scale plant – first product sales were in 2015.

In 2016, Ecoslops and Total signed an agreement to implant on the site of Total La Mède, a refining unit facility to regenerate hydrocarbon residues stemming from sea transport.

In 2017, Ecoslops signed a Memorandum of Understanding with the Suez Canal Economic Zone for the realisation of a detailed feasibility study (statutory, technical, financial and commercial aspects of the project) which should be finalised in mid-2019. It has close relationships and support from French authorities to fulfill its goal.

Fuel oil

Fuel oil can be categorised into three groups:

  • LFO (Light Fuel Oil): used by some small engines or vessels in environmentally-sensitive areas. It is a light distillate and looks clear and bright. It is a residue-free clean fuel.
  • HGO (Heavy Gasoil) may contain residue fuel in small amounts and looks dark or black.
  • IFO (Intermediate Fuel Oil), more viscous than Light Fuel Oil. The product’s name varies based on the company. Maximum viscosity at 50°C is usually referred to as “IF”; hence, for instance, IFO180 has maximum viscosity of 180 centistocks at 50°C. These residual, more viscous, fuels are cheap and abundant and used in large diesel engines.
Shareholders Click onto see a given shareholder other stakes
Name% owned Of which
% voting rights
Of which
% free to float
J4A Holdings II 10.9%10.9%0.00%
Gemmes Ventures
Gemmes Ventures is shareholder of
  • Total
     
    €M 12.4
8.88%8.88%0.00%
BNP Paribas Developpement
BNP Paribas Developpement is shareholder of
  • Total
     
    €M 5.07
7.79%7.79%0.00%
Pingeot Family 6.79%6.79%0.00%
Favier Family 5.10%5.10%0.00%
soprema 3.00%3.00%3.00%
Apparent free float  60.5%
Changes to Shareholding : 16/06/2017.
Concepts
Business concepts
  • Asset based
  • Green story
  • Regulation & tax drivers
  • Marginal capacity play
Investment Concepts
  • Growth