Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel manufacturer Argent Energy offered

23 July 2013

Argent Energy, a leader of massive industrial production of biodiesel in the UK, has been bought by a green financial investment company.

Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed sum.

Argent makes green road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.

The firm will remain in private 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 remain with the company.

Souter Investments, the private investment firm of transportation magnate Sir Brian Souter, verified it had actually sold its 37% stake in Argent.

‘Future potential’

Mr Walker stated the financial investment by John Swire highlighted Argent’s strong market position, adding there was now an “to take Argent’s skills more afield”.

Barnaby Swire, of John Swire, said his company was devoted to “checking out and purchasing ingenious and feasible green industries”.

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

“John Swire & Sons Ltd sees in Argent Energy’s staff members a mix of characteristics and values that are compatible with our own, and anticipate dealing with them to increase Argent Energy’s future potential.”

Argent was developed in 2001. In 2009 it was purchased 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.

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