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Pioneering [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [producer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy sold
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23 July 2013
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Argent Energy, a pioneer of [massive industrial](https://www.google.com/search?kgmid=/m/0cqd_rb) production of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in the UK, has been purchased by a green financial investment [business](https://www.businessnews.com.au/Company/Mission-NewEnergy).
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Argent, based near Motherwell, was [offered](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) to a of London-based John Swire & Sons for a [concealed](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) sum.
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Argent makes [green roadway](https://pitchbook.com/profiles/company/51278-86) fuel by [recycling wastes](https://www.google.com/search?kgmid=/m/0cqd_rb) and residues such as used [cooking oil](https://stocktwits.com/symbol/MNEL) and tallow from the meat industry.
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The firm will remain in private ownership and will [continue](https://pitchbook.com/profiles/company/51278-86) to run [separately](https://pitchbook.com/profiles/company/51278-86).
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Its senior management, including chairman Andy Hunter, [managing director](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Jim Walker and financial director Jim Boyd are to stay with the [company](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).
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Souter Investments, the private investment firm of [transportation magnate](https://www.crunchbase.com/organization/mission-newenergy) Sir Brian Souter, verified it had offered its 37% stake in Argent.
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['Future](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) potential'
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Mr Walker stated the financial investment by [John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) highlighted Argent's strong market position, adding there was now a chance "to take Argent's skills additional afield".
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Barnaby Swire, of John Swire, stated his company was committed to "checking out and buying innovative and viable green industries".
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He added: "We are pleased to be acquiring Argent Energy, a business which our company believe can grow and prosper not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group business are familiar.
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"John Swire & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) workers a mix of qualities and worths that are suitable with our own, and look forward to [dealing](https://www.zoominfo.com/c/mission-newenergy/346542889) with them to maximise Argent Energy's [future capacity](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html)."
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Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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