Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy offered

23 July 2013

Argent Energy, a pioneer of massive commercial production of biodiesel in the UK, has actually been purchased by a green investment firm.

Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed sum.

Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the .

The company will remain in private ownership and will continue to run independently.

Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to stay with the company.

Souter Investments, the personal investment company of transportation magnate Sir Brian Souter, confirmed it had actually offered its 37% stake in Argent.

‘Future capacity’

Mr Walker stated the investment by John Swire underlined Argent’s strong market position, including there was now a chance “to take Argent’s abilities further afield”.

Barnaby Swire, of John Swire, stated his business was devoted to “checking out and buying innovative and practical green industries”.

He included: “We are pleased to be obtaining Argent Energy, a company which our company believe can grow and succeed not only within the UK but also overseas, in specific in Asian markets with which Swire Group business are familiar.

“John Swire & Sons Ltd sees in Argent Energy’s staff members a mix of qualities and worths that work with our own, and eagerly anticipate dealing with them to maximise Argent Energy’s future potential.”

Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management along with Souter Investments.

Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of biodiesel a year.

Cooking oil to run buses in trial

4 November 2011

Argent Energy

Souter Investments