Argent still considering biodiesel plant in New Zealand

Biodiesel producer Argent Energy is still working on plans to establish a New Zealand plant, possibly in Tauranga, despite cancelling its proposed share market listing in Britain. Dickon Posnett, managing director of Argent Energy NZ, said finance for the construction of a plant producing 75,000 tons (85 million liters) of biodiesel a year in New Zealand has always been independent of the British listing. Argent Energy will now look at other options to raise funds for its British investments. Posnett, who is based at Mount Maunganui, said the investment community remained interested in the sector globally, especially where sustainable feedstocks were utilized in biodiesel plants. (July 25, 2007)