Agro Diesel (India) Private Ltd

Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy sold

23 July 2013

Argent Energy, a pioneer of large-scale industrial production of biodiesel in the UK, has actually been purchased by a green financial investment company.

Argent, based near Motherwell, was offered 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 market.

The firm will remain in personal ownership and will continue to run individually.

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

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

‘Future capacity’

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

Barnaby Swire, of John Swire, stated his company was committed to “checking out and purchasing innovative and feasible green markets”.

He included: “We are pleased to be acquiring Argent Energy, a business which our company believe can grow and succeed 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 employees a mix of characteristics and worths that are compatible with our own, and anticipate working with them to maximise Argent Energy’s future potential.”

Argent was developed 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 as much as 50 million litres of biodiesel a year.

Cooking oil to run buses in trial

4 November 2011

Argent Energy

Souter Investments