Consortium buys out Argent Energy
In Scotland, a consortium of existing managers and Souter investments has bought out Argent Energy, which was the UK’s only commercial-scale biodiesel refinery when it opened in Motherwell in 2005.
The consortium purchased the shares of a group of investors led by Cinven, which has backed the project since its inception in 2001.
‘Since we started production we have delivered over 170 million litres of biodiesel and our plant is currently running close to full capacity,’ said Jim Walker, Argent Energy managing director.
Argent Energy produces biodiesel from waste cooking oil and tallow. The end product meets the UK Renewable Fuels Agency’s highest sustainability criteria. The British Government has signalled that, from 2011, it will only certify as renewable fuels that meet appropriate criteria for the sustainability of their feedstocks.
A new facility is under construction next to the existing plant which will process feedstocks prior to the biodiesel process. Jim Walker is now a shareholder in the business along with finance director Jim Boyd and company founder Andy Hunter, who will remain as chairman.
The consortium purchased the shares of a group of investors led by Cinven, which has backed the project since its inception in 2001.
‘Since we started production we have delivered over 170 million litres of biodiesel and our plant is currently running close to full capacity,’ said Jim Walker, Argent Energy managing director.
Argent Energy produces biodiesel from waste cooking oil and tallow. The end product meets the UK Renewable Fuels Agency’s highest sustainability criteria. The British Government has signalled that, from 2011, it will only certify as renewable fuels that meet appropriate criteria for the sustainability of their feedstocks.
A new facility is under construction next to the existing plant which will process feedstocks prior to the biodiesel process. Jim Walker is now a shareholder in the business along with finance director Jim Boyd and company founder Andy Hunter, who will remain as chairman.
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