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

Source Press Release
Company Total 
Tags Refining & Marketing Activities, Corporate Deals, Deals
Date April 01, 2019

Total 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 Total’s La Mède 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, we’ve 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 couldn’t have financed the new unit, are, of course, also responsible for the project’s success. Lastly, I’d like to stress that more than 75% of the construction-related contracts, worth €16 million, will be awarded to local or national companies, underscoring French know-how,” said Ecoslops Chief Executive Officer Vincent Favier at the signing ceremony.

“We’re 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 François Bourrasse, manager of Total’s La Mède complex.

About the La Mède Complex

In 2019, the La Mède complex will be the site of France’s first world-class biorefinery, for a capital expenditure of €275 million. It will produce 500,000 tons of hydrotreated vegetable oil (HVO) biodiesel a year. The La Mède 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 50,000 cubic meters of AdBlue®, an additive that reduces nitrogen oxide emissions from trucks; an oil depot with a storage capacity of 1.3 million cubic meters a year; and an 8 MW solar farm. La Mède’s forward-looking transformation reflects Total’s determination to play an active role in developing low-carbon energies. It will eventually employ 250 people.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd