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Add Pioneering Biodiesel Producer Argent Energy Sold

Paige Garrison 2025-01-12 05:10:58 +00:00
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<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) producer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of large-scale industrial production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has actually been bought by a [green investment](https://forest500.org/rankings/companies/mission-newenergy-limited) firm.<br>
<br>Argent, based near Motherwell, was [offered](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to a [subsidiary](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [London-based John](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) Swire & Sons for a concealed sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the [meat market](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>The firm will stay in [personal 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 [individually](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director [Jim Boyd](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) are to remain with the [business](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Souter Investments, the [private investment](https://www.pinterest.com.au/missionnewenergy/) business of [transport tycoon](https://www.zoominfo.com/c/mission-newenergy/346542889) [Sir Brian](https://www.zoominfo.com/c/mission-newenergy/346542889) Souter, it had actually sold its 37% stake in Argent.<br>
<br>['Future](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) potential'<br>
<br>Mr Walker stated the investment by [John Swire](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [highlighted Argent's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) strong market position, including there was now an opportunity "to take Argent's abilities further afield".<br>
<br>Barnaby Swire, of John Swire, said his business was dedicated to "checking out and purchasing innovative and practical green markets".<br>
<br>He added: "We are thrilled to be acquiring Argent Energy, a business which we think can grow and succeed not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business recognize.<br>
<br>"[John Swire](https://www.google.com/search?kgmid=/m/0cqd_rb) & Sons Ltd sees in Argent Energy's workers a mix of [qualities](https://www.crunchbase.com/organization/mission-newenergy) and values that work with our own, and anticipate working with them to increase Argent Energy's future capacity."<br>
<br>Argent was developed 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 capability to produce as much as 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) 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>