Argent Energy expects the deal to be completed by early September. The deal is subject to various conditions being met, including the agreement to the transactions from regulatory authorities.

Argent Energy is involved in large scale commercial biodiesel production in the UK. The award-winning firm makes its clean, green road fuel by recycling wastes and residues from other industries – specifically waste from the food industry and tallow from the meat industry. It has also pioneered the use of low grade waste fats and oils such as ‘fatbergs’ from the UK’s water industry.

The addition of these facilities represents the first step for Argent Energy replicating its successful business outside the UK.

Argent Energy managing director Jim Walker said: “This investment will allow Argent to develop our capability of recycling waste fats and oils in the production of biofuel. It further underlines Swire’s commitment to contribute to the global reduction of CO2 emissions, just as the UK and the EU are legislating for continued decarbonisation of transport to 2030 and beyond.”

Source: Company Press Release