ECOX initiates Frankfurt dual listing to advance European SAF push

OTC-listed Eco Innovation Group has begun a Frankfurt Stock Exchange dual-listing process as it repositions around sustainable aviation fuel under a planned rebrand.

By The Cleantech Times Editorial Team Fri, 12 June 2026

Bronze statues of a charging bull and a standing bear, with the bear's paw touching the bull's rear, are bathed in bright daylight in front of classical buildings.

Eco Innovation Group (OTC: ECOX), an OTC-listed Nevada shell company in the process of rebranding as American EcoFuels, has initiated a dual listing on the Frankfurt Stock Exchange as part of a strategy centred on sustainable aviation fuel (SAF) in European markets. The company said it is in discussions with several European financial institutions and expects the process to take two to four weeks, subject to regulatory review.

The announcement is primarily strategic positioning rather than a completed transaction. No SAF production volumes, project capex, offtake agreements or named institutional investors are disclosed. The company's underlying operating asset is Kepler GTL Technologies, a gas-to-liquids developer whose modular technology is described as capable of converting stranded natural gas and other feedstocks into SAF and other low-carbon liquid fuels. A formal share-exchange merger between ECOX and Kepler GTL does not appear to have closed; the release refers to a "proposed transaction" and a registration statement to be filed with the US Securities and Exchange Commission.

Regulatory backdrop

The company points to the EU's ReFuelEU Aviation Regulation (EU 2023/2405) as the demand driver for its European strategy. That regulation mandates SAF blending thresholds at EU airports starting at 2% in 2025, rising to 6% by 2030 and 70% by 2050. A dedicated sub-mandate for synthetic fuels, including gas-to-liquids (GTL) products, is intended to stimulate longer-term demand for power-to-liquid and thermochemical production routes.

Brent Nelson, chief executive of Kepler GTL Technologies, said Europe is one of the few markets where fuel demand is being shaped by regulation with defined timelines, adding that this creates a framework where "production, infrastructure, and capital can align in a meaningful way." Richard Hawkins, chief executive of Eco Innovation Group, echoed that framing, describing the Frankfurt listing as part of positioning the company "to operate within that environment in a practical way."

Market context

The SAF market is growing rapidly but remains supply-constrained and heavily subsidy-dependent. Blending mandates in the EU, and separately under the UK's Jet Zero strategy, are the primary demand-pull mechanisms; without them, SAF commands a substantial green premium over conventional jet fuel, which limits voluntary adoption. GTL technology, which converts natural gas into synthetic liquid fuels, competes with hydroprocessed esters and fatty acids (HEFA), alcohol-to-jet and power-to-liquid pathways for the SAF blending pool. HEFA currently dominates certified supply, but its feedstock base is constrained, which is why synthetic-fuel sub-mandates exist to incentivise alternative production routes.

For early-stage developers, the path from technology demonstration to bankable commercial plant typically requires a named offtaker, a disclosed capex figure and a structured financing package. ECOX has disclosed none of these. The planned Form 10 filing with the SEC would move the company to full SEC-reporting status from its current OTC tier, which would be a meaningful governance step if completed.

Investors tracking the European SAF supply chain will want to see a completed merger between ECOX and Kepler GTL, audited financials, a named European partner or offtaker, and a production timeline before the company's regulatory narrative can be evaluated against commercial progress.