Biodiesel firm to float on AIM

By Alex Smith and Alex Smith Alex Smith2007-06-18T10:25:00+01:00

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Public listing will fund second plant in Ellesmere Port to convert animal fat into energy

The construction of a new biodiesel plant in the North West came a step closer this morning after Argent Energy announced it was to float on AIM.

Argent Energy produces biodiesel from low-cost 鈥榝eedstocks鈥� such as animal fat and cooking oil. It started producing biodiesel from a plant in Motherwell, Scotland in 2005 and has received planning permission for a second 150,000-tonne plant at Ellesmere Port near Liverpool.

The money raised on AIM will help fund the first phase of the Ellesmere Port plant. Argent also announced it is considering developing the plans for a biodiesel plant in New Zealand.

According to Argent chief executive officer Andy Hunter said: 鈥淭he group currently has a strong balance sheet, is generating cash from the Motherwell plant, and is now ready to move on to the next stage of its strategy which the new funding will enable it to do.鈥�

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