[Curiosities] Clean-Seas Acquires 51% of Moroccan Firm Ecosynergie

[BirSaNN]

The Moroccan group specializes in turning waste into plastic.

Rabat - American company Clean-Seas acquired a 51% stake in Morocco-based Ecosynergie Group, which is an operator of pyrolysis waste-plastic conversion technology.

Ecosynergie will change its name to Clean-Seas Morocco (CSM), the name of the joint-venture the two companies established last year.

Clean-Seas, a subsidiary of Clean Vision, will pay $6.5 million for the controlling stake within the next 10 months, according to the press release that announced  the deal.

Ecosynergie’s recycling facility has a capacity of 20 tonnes per day (TPD) and is expected to be supplemented by two additional 50 TPD systems, to bring its capacity to 120 TPD.

The facility is set to become one of Clean-Seas’ regional hubs in its “Plastic Conversion Network.” The press release details that the company plans to reach a capacity of 350 TPD or more in two years.

"Our team believes this transaction is a big win for Morocco and for everyone involved,” said ESG’s Director and General Manager Mohammed El Abbassi, who is also set to become the Chairman of the CSM board.

“Combined with the Clean-Seas team and its capital commitment, we anticipate having the resources needed to reduce waste-plastic economically and profitably, while creating jobs and producing clean fuels to help offset higher energy prices," he added.

"Everyone involved with this project is committed to its success, not just financially but for the positive impact it will have on the environment and the local community,” stated Dan Harris, Clean Vision CRO .

Clean-Seas previously partnered with Ecosynergie to build two plants to convert plastic into energy sources, allowing other Moroccan companies wanting to do pyrolysis operations to use the facilities.

Pyrolysis is a process used to convert plastic materials into energy sources by heating plastic waste between 300 to 900 degrees celsius.

link: https://www.moroccoworldnews.com/2023/01/353702/clean-seas-acquires-51-of-moroccan-firm-ecosynergie