Pioneering Biodiesel Producer Argent Energy Sold

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Pioneering biodiesel producer Argent Energy offered

Pioneering biodiesel producer Argent Energy offered


23 July 2013


Argent Energy, a pioneer of large-scale commercial production of biodiesel in the UK, has actually been bought by a green 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 used cooking oil and tallow from the meat industry.


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


Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the business.


Souter Investments, the personal investment firm of transport tycoon Sir Brian Souter, validated it had actually offered its 37% stake in Argent.


'Future capacity'


Mr Walker stated the investment by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's abilities further afield".


Barnaby Swire, of John Swire, stated his business was dedicated to "exploring and buying ingenious and practical green industries".


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


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


Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with 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

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