The Serious Fraud Office (SFO) has said Greenergy is no longer a suspect in its ongoing investigation into certain aspects of biodiesel trading.

The investigation, which began in May and is being carried out jointly by the SFO and Dutch authorities, saw a number of sites, including five of Greenergy’s UK premises, searched and four individuals arrested and released without charge.

Greenergy, which supplied 19.4 billion litres of diesel and petrol last year and is Europe’s largest producer of waste-based biodiesel, said the SFO had informed the company it had been released from the investigation: “We are cooperating fully with the SFO during its investigation, providing extensive data and visibility of our biodiesel business,” a statement from the Greenergy board said.

“We are pleased that both the company and our employees have now been released from the investigation.

“We would like to thank our staff for their professionalism and dedication during this time.

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“Our success as a business has been built upon our values of integrity, honesty, openness and respect, and these values will continue to guide us.”

An SFO spokeswoman confirmed that the company and four individuals were no longer suspects and added: “Our investigation into certain aspects of biodiesel trading at Greenergy and various third parties associated with this, is ongoing.”

Earlier this year, Greenergy Flexigrid won an MT award for Safety in Operation.