Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy sold

23 July 2013

Argent Energy, a leader of massive industrial production of biodiesel in the UK, has been bought by a green investment company.

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

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

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 firm of transportation magnate Sir Brian Souter, validated it had actually sold 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 an opportunity “to take Argent’s abilities additional afield”.

Barnaby Swire, of John Swire, said his business was devoted to “exploring and purchasing ingenious and feasible green markets”.

He included: “We are thrilled to be getting Argent Energy, a company which we believe can grow and prosper not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.

“John Swire & Sons Ltd sees in Argent Energy’s employees a mix of characteristics and worths that are suitable with our own, and eagerly anticipate dealing with them to increase Argent Energy’s .”

Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management together 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