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The Green Award Foundation, a not-for-profit quality assurance organisation, has announced that it has signed an incentive agreement with Ecoslops - the first company to develop a technology that sustainably produces marine fuels from refined marine oil residues (also known as 'slops').

The development will see Ecoslops provide a 25 percent discount to all Green Award-certified ships, reducing the costs of slops disposal for ship owners, and ensuring their sustainable regeneration into marine fuels.

The incentive runs from the April 28, 2016, and is applicable for all hydrocarbon waste (i.e. bilge waters, sludge and slops) delivered to Ecoslops by Green Award certified vessels. This waste is classified under LER code 16 07 08 and directly related to Ecoslops' principle activity of transforming marine hydrocarbon waste into marine fuels through its micro-refining technology.

Ecoslops' technology is designed to help to reduce the costs associated with slops disposal for shipping companies, and to ensure efficiencies throughout the process.

"At a time when there are limited in-port storage and reception facilities for slops, Ecoslops provides a sustainable solution, improving the environment for local port communities, and minimizing downtime for ship owners. This economically and environmentally conscious approach is in line with the Green Award principles, making Ecoslops the ideal partner in the expansion of the Green Award partner network," the companies said in a joint statement today.

A Green Award certificate supports ship owners and ship management companies to differentiate themselves by demonstrating their strengths and high standards, which go beyond statutory obligations. Green Award independently audits and certifies ships in accordance with its own requirements regarding safety, quality and the environment. Ports, maritime service providers and ship owners and managers join the Green Award scheme to reduce risks of incidents, support economically sound and high quality shipping, and to increase their social and environmental sustainability profile, improving their competitiveness in the eyes of their customers.

Ecoslops' first industrial scale treatment unit, with an annual capacity of up to 30,000 tons is located in the Port of Sinès, Portugal.

Vincent Favier, CEO of Ecoslops, and Jan Fransen, Executive Director of the Green Award Foundation, met in Sinès on April 27 in order to mark the start of the official collaboration.

Vincent Favier, CEO, Ecoslops, commented: "Ecoslops is committed to increasing sustainability within the shipping industry, and is delighted to support the Green Award. The incentive we are offering provides a significant cost reduction to Green Award holders and also ensures that the disposal of their slops is efficient, sustainable and of benefit to the environment within local port communities, as well as creating a sustainable cycle for reintroducing regenerated marine fuels back into the supply chain."

Green Award currently unites over 70 incentive providers (ports and companies) and has, in total, over 800 inland and sea-going ships certified.