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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL

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La Mde Complex, France: Total Acquires an Interest in Ecoslops Provence

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04/02/2019 | 04:38am EST

(GlobeNewswire) - Chteauneuf-les-Martigues, France, April 1, 2019Total has signed an agreement with Ecoslops S.A., an innovative company that regenerates oil residues into new fuels and light bitumen, that gives the oil major a 25% interest in its affiliate Ecoslops Provence.

Ecoslops Provence is building a unit to regenerate oil residues at Totals La Mde complex. The new facility is scheduled to come on stream in late 2019. Total is providing Ecoslops Provence with access to existing infrastructure and the services and utilities the unit needs to operate.

Thanks to our partnership with Total, weve been able to maximize the synergies between our activities and make our move into the Marseille region much simpler and less expensive. Our financial partners and the regional authorities, without which we couldnt have financed the new unit, are, of course, also responsible for the projects success. Lastly, Id like to stress that more than 75% of the construction-related contracts, worth 16million, will be awarded to local or national companies, underscoring French know-how, said Ecoslops Chief Executive Officer Vincent Favier at the signing ceremony.

Were delighted to step up our collaboration with Ecoslops by acquiring an interest in their Provence affiliate. The unit being built reinforces the industrial repurposing of our site to future energies, through a circular economy project, added Franois Bourrasse, manager of Totals La Mde complex.

About the La Mde Complex

In 2019, the La Mde complex will be the site of Frances first world-class biorefinery, for a capital expenditure of 275million. It will produce 500,000 tons of hydrotreated vegetable oil (HVO) biodiesel a year. The La Mde complex is home to four other major activities: an international training center using real facilities that can accommodate 2,500 trainees a year; a unit producing 50,000cubic meters of AdBlue, an additive that reduces nitrogen oxide emissions from trucks; an oil depot with a storage capacity of 1.3million cubic meters a year; and an 8MW solar farm. La Mdes forward-looking transformation reflects Totals determination to play an active role in developing low-carbon energies. It will eventually employ 250 people.

About Ecoslops

Ecoslops is the cleantech that brings oil into circular economy thanks to an innovative technology allowing the company to upgrade oil residues into new fuels and light bitumen. The solution proposed by Ecoslops is based on a unique micro-refining industrial process that transforms these residues into commercial products that meet international standards. Ecoslops offers an economic and ecological solution to port infrastructure, waste collectors and ship-owners through its processing plants. The first industrial unit 30,000 tons p/a is currently in operation in Sines, Portugals principal commercial port.

About Total

Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.

* * * * *

Total La Mde Complex Contact

Media Relations: Agnes Salgues de La Brande l 04.42.78.50.18 l agnes.salgues-de-la-brande@total.com

Ecoslops Contact

Media Relations: Emilie Dehu I 01.83.64.47.43 I emilie.dehu@ecoslops.com

Cautionary note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total and Total Group are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.

Attachment

PR_JV_ECOSLOPS_PROVENCE_TOTAL_010419

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ECOSLOPS -0.44% 11.3 Real-time Quote.-6.61%
TOTAL 0.41% 47.82 Real-time Quote.3.55%
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