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Add Pioneering Biodiesel Producer Argent Energy Sold

Melvina Holte 2025-01-14 04:17:35 -05:00
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<br>[Pioneering](https://www.zoominfo.com/c/mission-newenergy/346542889) [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) [manufacturer](https://www.google.com/search?kgmid=/m/0cqd_rb) [Argent Energy](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale commercial production of [biodiesel](https://www.bloomberg.com/profile/company/MNELF:US) in the UK, has actually been [purchased](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) by a green investment [business](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed sum.<br>
<br>Argent makes green road fuel by [recycling wastes](https://www.businessnews.com.au/Company/Mission-NewEnergy) and [residues](https://www.bloomberg.com/profile/company/MNELF:US) such as [utilized cooking](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) oil and tallow from the meat market.<br>
<br>The company will stay in personal ownership and will continue to run separately.<br>
<br>Its senior management, [including chairman](https://www.pinterest.com.au/missionnewenergy/) Andy Hunter, [handling director](https://www.crunchbase.com/organization/mission-newenergy) Jim Walker and [financial](https://www.crunchbase.com/organization/mission-newenergy) director Jim Boyd are to stay with the company.<br>
<br>Souter Investments, the personal financial [investment company](https://www.crunchbase.com/organization/mission-newenergy) of transport magnate [Sir Brian](https://www.bloomberg.com/profile/company/MNELF:US) Souter, it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the [investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) by John Swire underlined [Argent's strong](https://www.businessnews.com.au/Company/Mission-NewEnergy) market position, adding there was now a chance "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 was committed to "exploring and purchasing ingenious and viable green markets".<br>
<br>He added: "We are thrilled to be obtaining Argent Energy, a company which we believe can grow and succeed not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) employees a mix of [qualities](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and values that work with our own, and anticipate dealing with them to increase Argent Energy's future potential."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity 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.<br>
<br>Cooking oil to run buses in trial<br>
<br>4 November 2011<br>
<br>Argent Energy<br>
<br>Souter Investments<br>