Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy offered

23 July 2013

Argent Energy, a leader of large-scale commercial production of biodiesel in the UK, has actually been purchased by a green financial investment business.

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

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

The firm will remain in private ownership and will continue to run individually.

Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to stay with the business.

Souter Investments, the private investment business of transportation tycoon Sir Brian Souter, validated it had offered its 37% stake in Argent.

’Future capacity’

Mr Walker stated the investment by John Swire highlighted Argent’s position, adding there was now a chance ”to take Argent’s skills further afield”.

Barnaby Swire, of John Swire, stated his business was devoted to ”checking out and investing in ingenious and feasible green industries”.

He added: ”We are pleased to be acquiring Argent Energy, a business which our company believe can grow and flourish not just within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.

”John Swire & Sons Ltd sees in Argent Energy’s staff members a mix of characteristics and worths that are compatible with our own, and anticipate dealing with them to increase Argent Energy’s future potential.”

Argent was established in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.

Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of biodiesel a year.

Cooking oil to run buses in trial

4 November 2011

Argent Energy

Souter Investments