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Add 'Pioneering Biodiesel Producer Argent Energy Sold'

Catharine Creswick 2025-01-13 08:52:06 +08:00
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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 leader of [massive industrial](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [production](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) in the UK, has been bought by a [green investment](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a [concealed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) sum.<br>
<br>Argent makes green roadway fuel by [recycling wastes](https://www.pinterest.com.au/missionnewenergy/) and [residues](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) such as oil and tallow from the [meat industry](https://stocktwits.com/symbol/MNEL).<br>
<br>The company will remain in personal ownership and will continue to run individually.<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the [business](https://stocktwits.com/symbol/MNEL).<br>
<br>Souter Investments, the [private investment](https://www.pinterest.com.au/missionnewenergy/) firm of transport tycoon [Sir Brian](https://www.bloomberg.com/profile/company/MNELF:US) Souter, verified it had actually sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the [investment](https://www.zoominfo.com/c/mission-newenergy/346542889) by John Swire [highlighted Argent's](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) strong market position, adding there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire, of John Swire, said his company was [dedicated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to "exploring and buying ingenious and viable green industries".<br>
<br>He included: "We are delighted to be acquiring Argent Energy, a business which our company believe can grow and prosper not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](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) staff members a mix of qualities and values that are suitable with our own, and look forward to [dealing](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) with them to maximise Argent [Energy's](https://www.businessnews.com.au/Company/Mission-NewEnergy) future [potential](https://forest500.org/rankings/companies/mission-newenergy-limited)."<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 capacity to produce as much as 50 million litres of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) 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>