Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) manufacturer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of large-scale commercial production of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has actually been bought by a [green investment](https://www.zoominfo.com/c/mission-newenergy/346542889) firm.<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
+<br>Argent makes green road fuel by [recycling wastes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and residues such as utilized cooking oil and tallow from the meat market.<br>
+<br>The [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) will remain in personal ownership and will continue to run [individually](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
+<br>Its senior management, [consisting](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of chairman Andy Hunter, handling director [Jim Walker](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and [monetary director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Jim Boyd are to stay with the [business](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
+<br>Souter Investments, the personal investment company of transportation magnate Sir Brian Souter, [verified](https://www.bloomberg.com/profile/company/MNELF:US) it had  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.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) position, adding there was now a chance "to take Argent's abilities further afield".<br>
+<br>Barnaby Swire, of John Swire, said his [business](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) was dedicated to "exploring and buying ingenious and practical green industries".<br>
+<br>He added: "We are happy to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
+<br>"[John Swire](https://stocktwits.com/symbol/MNEL) & Sons Ltd sees in [Argent Energy's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [workers](https://www.crunchbase.com/organization/mission-newenergy) a mix of [characteristics](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and values that are compatible with our own, and look [forward](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to dealing with them to [maximise Argent](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Energy's future [potential](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053)."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) 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>