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 been purchased by a green financial 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 utilized cooking oil and tallow from the meat industry.


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


Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the company.


Souter Investments, the private investment firm of transportation magnate Sir Brian Souter, it had actually sold its 37% stake in Argent.


'Future potential'


Mr Walker stated the investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's abilities more afield".


Barnaby Swire, of John Swire, said his company was dedicated to "exploring and investing in innovative and feasible green markets".


He included: "We are delighted to be obtaining Argent Energy, a business which our company believe can grow and prosper not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies recognize.


"John Swire & Sons Ltd sees in Argent Energy's employees a mix of characteristics and values that work with our own, and anticipate working with them to increase Argent Energy's future capacity."


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


Its plant at Newarthill, near Motherwell, has the capability 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