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Add Pioneering Biodiesel Producer Argent Energy Sold

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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md 100644

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<br>Pioneering biodiesel producer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of large-scale commercial [production](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has actually been [purchased](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) by a [green financial](https://www.businessnews.com.au/Company/Mission-NewEnergy) [investment company](https://stocktwits.com/symbol/MNEL).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire & Sons for an [undisclosed](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) sum.<br>
<br>Argent makes [green roadway](https://www.businessnews.com.au/Company/Mission-NewEnergy) fuel by recycling wastes and residues such as [utilized cooking](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) oil and tallow from the meat industry.<br>
<br>The firm will remain in [private ownership](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) and will [continue](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to run [independently](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
<br>Its senior management, consisting of chairman Andy Hunter, [handling](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) director Jim Walker and Jim Boyd are to remain with the [business](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>Souter Investments, the [private investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) firm of [transport tycoon](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Sir Brian Souter, [validated](https://www.pinterest.com.au/missionnewenergy/) it had sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated the financial investment by John Swire underlined Argent's [strong market](https://www.businessnews.com.au/Company/Mission-NewEnergy) position, including there was now an opportunity "to take Argent's skills additional afield".<br>
<br>Barnaby Swire, of John Swire, stated his [company](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) was dedicated to "checking out and investing in innovative and viable green industries".<br>
<br>He added: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and prosper not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's employees a mix of qualities and worths that are suitable with our own, and anticipate dealing with them to increase [Argent Energy's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) future potential."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 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>