One of the pioneers in biodiesel production in the UK has been sold. The BBC reports Argent Energy, a company that turns used cooking oil and animal fats into the green fuel, was bought by London-based John Swire & Sons, a green investment company.
The firm will stay in private ownership and will continue to run independently.
Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the company.
Barnaby Swire, of John Swire, said his company was committed to “exploring and investing in innovative and viable green industries”.
He added: “We are delighted to be acquiring Argent Energy, a company which we believe can grow and prosper not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.
Argent has been around since since 2001 with a 50 million liter (about 12 million gallons) a year plant in Newarthill near Motherwell in Scotland.