Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy sold


23 July 2013


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


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 utilized cooking oil and tallow from the meat industry.


The company 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 stay with the business.


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


'Future potential'


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


Barnaby Swire, of John Swire, stated his was committed to "exploring and purchasing ingenious and feasible green markets".


He included: "We are thrilled to be acquiring Argent Energy, a business which we believe can grow and succeed not just within the UK however also overseas, in specific in Asian markets with which Swire Group business recognize.


"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and values that work with our own, and eagerly 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 as much as 50 million litres of biodiesel a year.


Cooking oil to run buses in trial


4 November 2011


Argent Energy


Souter Investments