M2 Capital Sdn. Bhd

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  • Founded Date May 16, 1959
  • Sectors Office
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Company Description

Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy offered

23 July 2013

Argent Energy, a pioneer 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 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 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 private investment company of Sir Brian Souter, verified it had offered its 37% stake in Argent.

‘Future potential’

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

Barnaby Swire, of John Swire, stated his business was devoted to “checking out and investing in innovative and feasible green markets”.

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

“John Swire & Sons Ltd sees in Argent Energy’s staff members a mix of attributes and worths that are compatible with our own, and look forward to working with them to maximise Argent Energy’s future capacity.”

Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management along 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

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