France: Ecoslops and EIB sign EUR 18m loan agreement
24 June 2019
Loan signature announced on 11 February 2019
EUR 18 million loan over period 2019-2027
Finance provided for projects in Marseilles and Antwerp and R&D schemes (Mini-P2R)
Ecoslops and the EIB are pleased to announce the signing of a EUR 18 million loan agreement to help finance the construction of plants in Marseilles and Antwerp. This funding will also enable the firm to push ahead with its R&D programme, especially under the mini-P2R banner, and build up its teams. The loan is being provided under the Connecting Europe Facility (CEF), aimed at fostering sustainable sea transport. It consists of two tranches of EUR 10 million and EUR 8 million.
The Marseilles project (75% ECOSLOPS, 25% TOTAL) is under construction and the loan will start being drawn down in the next few months. The plant is scheduled to open in early 2020.
In Antwerp, environmental studies are under way following the conclusion of an agreement with the ATPC refinery (VITOL Group) and the Port of Antwerp.
Mini P2R tests were carried out in the first half of 2019 and met our expectations in full. The company is now working on building the first plant with a view to on-site testing in real conditions.
EIB Vice-President Ambroise Fayolle, said:
“The EIB, the EU bank, is fully committed to backing Ecoslops, which offers an especially innovative solution to combat climate change at pan-European level, addressing a market gap by reprocessing used maritime fuel. This is also the first concrete initiative under the new Connecting Europe Facility.”
Vincent Favier, CEO of Ecoslops, added:
“Ecoslops is proud to be able to count on this EIB support for the circular economy. Our technological solution is unique on the market and it is important for us to position ourselves quickly in the most attractive ports. This is why being able to depend on EIB backing for our European projects is a major asset that will enable us to speed up our growth. Our innovation fostering the circular economy and energy transition generates industrial investment and qualified jobs. It ensures resource conservation and pollution reduction, cutting CO2 emissions by two thirds compared to traditional technologies. This proves that industry, the environment and the economy can go hand-in-hand.”
The EIB has signed a SEK 3.5 billion loan agreement with the Region of Skane in Southern Sweden to finance the modernisation of the regional University Hospital in Malmö. The hospital is currently providing its services from buildings from the sixties and seventies, which are no longer fit for purpose. Skane’s regional council therefore approved a long-term investment programme to house the core medical services in new facilities and rehabilitate the existing facilities for administrative purposes.
The EIB is granting two credit lines totalling €600 million that will enable Crédit Mutuel Alliance Fédérale to lend over €1.2 billion to French SMEs and mid-caps. It is the first French bank to benefit from the EIB’s post-COVID-19 programme, reaffirming its position as a key player in the financing of SMEs and mid-caps.
The EIB is providing a €200 million loan to the Amadeus IT Group, the world’s leading global distribution system (GDS) and IT solutions provider for the travel industry, based in Madrid. This financing concerns R&D activities, with a focus on France (Nice Sophia Antipolis) and is aimed at the development of a wide variety of technologies and features that will be used in different software products by airlines, airports, travel agencies and railway operators. The new developments include software frameworks, cloud migration tools, and customer experience and loyalty management applications.