Pioneering biodiesel producer Argent Energy sold

23 July 2013

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

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

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

The company 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 stay with the company.

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

'Future capacity'

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

Barnaby Swire, of John Swire, stated his company was dedicated to "checking out and purchasing ingenious and practical green industries".

He included: "We are happy to be getting Argent Energy, a company which we believe can grow and prosper not just within the UK but likewise 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 qualities and values that work with our own, and anticipate dealing with them to increase Argent Energy's future capacity."

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