Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel manufacturer Argent Energy sold


23 July 2013


Argent Energy, a pioneer of large-scale industrial production of biodiesel in the UK, has actually been bought 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 road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.


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


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


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


'Future capacity'


Mr Walker said the investment by John Swire highlighted market position, adding there was now a chance "to take Argent's skills additional afield".


Barnaby Swire, of John Swire, stated his business was committed to "exploring and investing in ingenious and feasible green industries".


He included: "We are thrilled to be obtaining Argent Energy, a business which we believe can grow and flourish not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.


"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of attributes and worths that are suitable with our own, and anticipate dealing with them to maximise Argent Energy's future capacity."


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


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


Cooking oil to run buses in trial


4 November 2011


Argent Energy


Souter Investments