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Add Pioneering Biodiesel Producer Argent Energy Sold

Franchesca Merriman 2025-01-12 08:17:38 +08:00
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<br>[Pioneering biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) [manufacturer Argent](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business production of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has actually been bought by a green investment firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for an [undisclosed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and [residues](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) such as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil and tallow from the .<br>
<br>The company will remain in private ownership and will continue to run [independently](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing [director Jim](https://www.bloomberg.com/profile/company/MNELF:US) Walker and [monetary director](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [Jim Boyd](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) are to remain with the [business](https://www.google.com/search?kgmid=/m/0cqd_rb).<br>
<br>Souter Investments, the [private investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) business of transport tycoon Sir Brian Souter, [verified](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) it had actually sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by [John Swire](https://www.pinterest.com.au/missionnewenergy/) [highlighted Argent's](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [strong market](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) position, adding there was now an [opportunity](https://www.pinterest.com.au/missionnewenergy/) "to take Argent's abilities further afield".<br>
<br>Barnaby Swire, of John Swire, said his company was committed to "checking out and buying innovative and feasible green markets".<br>
<br>He added: "We are pleased to be getting Argent Energy, a business which we think can grow and prosper not just within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
<br>"[John Swire](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) & Sons Ltd sees in Argent Energy's staff members a mix of qualities and worths that work with our own, and look forward to dealing with them to maximise Argent Energy's [future potential](https://www.crunchbase.com/organization/mission-newenergy)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) a year.<br>
<br>Cooking oil to run buses in trial<br>
<br>4 November 2011<br>
<br>Argent Energy<br>
<br>Souter Investments<br>