M2 Capital Sdn. Bhd

Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy offered

23 July 2013

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

Argent, based near Motherwell, was offered 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 utilized cooking oil and tallow from the meat market.

The firm will remain in private ownership and will continue to run separately.

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

Souter Investments, the private investment firm of transportation magnate Sir Brian Souter, verified it had actually offered its 37% stake in Argent.

‘Future capacity’

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

Barnaby Swire, of John Swire, stated his company was committed to “exploring and investing in innovative and feasible green markets”.

He included: “We are thrilled 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 are familiar.

“John Swire & Sons Ltd sees in Argent Energy’s workers a mix of qualities and values that are suitable with our own, and look forward to dealing with them to maximise Argent Energy’s future potential.”

Argent was established 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 capacity 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