Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel manufacturer Argent Energy sold


23 July 2013


Argent Energy, a pioneer of massive industrial production of biodiesel in the UK, has actually been bought by a green investment firm.


Argent, based near Motherwell, was sold 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 private ownership and will continue to run separately.


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


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


'Future potential'


Mr Walker stated the financial investment by John Swire highlighted 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 buying ingenious and practical green markets".


He included: "We are pleased to be getting Argent Energy, a business which we believe can grow and prosper not only within the UK but also overseas, in specific in Asian markets with which Swire Group business recognize.


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


Argent was developed in 2001. In 2009 it was purchased by a consortium which 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