Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel manufacturer Argent Energy sold


23 July 2013


Argent Energy, a leader of massive commercial production of biodiesel in the UK, has been purchased 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 road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.


The company will remain in private ownership and will continue to run separately.


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


Souter Investments, the personal investment firm of transportation 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 Argent's strong market position, including there was now an opportunity "to take Argent's abilities further afield".


Barnaby Swire, of John Swire, said his company was devoted to "checking out and buying ingenious and practical green markets".


He added: "We are happy to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK however also overseas, in specific in Asian markets with which Swire Group business are familiar.


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


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


Its plant at Newarthill, near Motherwell, has the capacity 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