Pioneering biodiesel producer Argent Energy offered

23 July 2013

Argent Energy, a pioneer of large-scale business production of biodiesel in the UK, has been purchased by a firm.

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

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 personal ownership and will continue to run independently.

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

Souter Investments, the private investment firm of transport magnate Sir Brian Souter, validated 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, adding there was now an opportunity “to take Argent’s abilities further afield”.

Barnaby Swire, of John Swire, stated his business was devoted to “exploring and buying innovative and practical green industries”.

He included: “We are pleased to be acquiring Argent Energy, a business which our company believe can grow and flourish not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies recognize.

“John Swire & Sons Ltd sees in Argent Energy’s employees a mix of attributes and worths that work with our own, and eagerly anticipate working with them to increase Argent Energy’s future potential.”

Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management together with Souter Investments.

Its plant at Newarthill, near Motherwell, has the capability 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