Pioneering biodiesel producer Argent Energy offered

23 July 2013

Argent Energy, a leader of large-scale commercial production of biodiesel in the UK, has actually been purchased by a green investment firm.

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

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 personal ownership and will continue to run individually.

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

Souter Investments, the personal investment company of transportation magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.

‘Future capacity’

Mr Walker said the investment by John Swire highlighted Argent’s strong market position, including there was now a chance “to take Argent’s abilities more afield”.

Barnaby Swire, of John Swire, stated his business was dedicated to “checking out and buying ingenious and practical green industries”.

He included: “We are pleased to be obtaining Argent Energy, a company which our company believe can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.

“John Swire & Sons Ltd sees in Argent Energy’s workers a mix of attributes and values that are suitable with our own, and anticipate working with them to increase Argent Energy’s future capacity.”

Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.

Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of biodiesel a year.

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