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Add Pioneering Biodiesel Producer Argent Energy Sold

Becky Desmond 2025-01-12 18:57:41 +08:00
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<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) manufacturer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business production of biodiesel in the UK, has been purchased by a [green investment](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.google.com/search?kgmid=/m/0cqd_rb) of London-based John Swire & Sons for an [undisclosed](https://stocktwits.com/symbol/MNEL) sum.<br>
<br>Argent makes fuel by [recycling wastes](https://forest500.org/rankings/companies/mission-newenergy-limited) and residues such as [utilized cooking](https://www.pinterest.com.au/missionnewenergy/) oil and tallow from the [meat industry](https://stocktwits.com/symbol/MNEL).<br>
<br>The firm will remain in [personal ownership](https://www.crunchbase.com/organization/mission-newenergy) and will [continue](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to run [separately](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
<br>Its senior management, [including chairman](https://www.pinterest.com.au/missionnewenergy/) Andy Hunter, handling director Jim Walker and [monetary director](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) Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the personal financial investment business of transport magnate [Sir Brian](https://www.pinterest.com.au/missionnewenergy/) Souter, [confirmed](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated the investment by John Swire [underlined Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) strong market position, including there was now an [opportunity](https://www.crunchbase.com/organization/mission-newenergy) "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, stated his [company](https://pitchbook.com/profiles/company/51278-86) was [committed](https://www.businessnews.com.au/Company/Mission-NewEnergy) to "exploring and investing in ingenious and practical green industries".<br>
<br>He included: "We are happy to be getting Argent Energy, a company which our company believe can grow and flourish not just within the UK however also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"[John Swire](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) & Sons Ltd sees in Argent Energy's staff members a mix of [qualities](https://www.pinterest.com.au/missionnewenergy/) and worths that work with our own, and anticipate dealing with them to increase Argent Energy's future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of biodiesel 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>