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Pioneering Biodiesel Producer Argent Energy Sold
Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a leader of large-scale commercial production of biodiesel in the UK, has been bought by a green investment firm.
Argent, based near Motherwell, was offered 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 utilized cooking oil and tallow from the meat market.
The firm will remain in private ownership and will continue to run independently.
Its senior management, including chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the business.
Souter Investments, the personal investment firm of transport magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.
‘Future potential’
Mr Walker stated the investment by John Swire 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 devoted to “exploring and investing in innovative and practical green markets”.
He added: “We are pleased to be obtaining Argent Energy, a company which we believe can grow and succeed not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies recognize.
“John Swire & Sons Ltd sees in Argent Energy’s workers a mix of attributes and worths 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 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