Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>[Pioneering biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) producer Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [massive commercial](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [production](https://www.bloomberg.com/profile/company/MNELF:US) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been bought by a [green investment](https://www.pinterest.com.au/missionnewenergy/) firm.<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of London-based John Swire & Sons for a concealed amount.<br>
+<br>Argent makes [green roadway](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel by [recycling wastes](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and residues such as used cooking oil and tallow from the meat market.<br>
+<br>The firm will remain in private ownership and will continue to run [independently](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).<br>
+<br>Its senior management, including chairman Andy Hunter, handling director Jim Walker and [financial director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Boyd are to stay with the [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
+<br>Souter Investments, the [personal investment](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) firm of [transportation tycoon](https://pitchbook.com/profiles/company/51278-86) Sir Brian Souter, confirmed it had [offered](https://www.zoominfo.com/c/mission-newenergy/346542889) its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr [Walker stated](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) the investment by John Swire underlined  market position, [including](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) there was now a chance "to take Argent's abilities additional afield".<br>
+<br>Barnaby Swire, of John Swire, stated his business was dedicated to "checking out and purchasing innovative and practical green markets".<br>
+<br>He added: "We are delighted to be obtaining Argent Energy, a business 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 & Sons Ltd sees in Argent Energy's workers a mix of characteristics and values that are suitable with our own, and [anticipate dealing](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) with them to [maximise Argent](https://forest500.org/rankings/companies/mission-newenergy-limited) [Energy's future](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) potential."<br>
+<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) 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>