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Add Pioneering Biodiesel Producer Argent Energy Sold

Fanny Hinz 2025-01-18 04:53:23 +08:00
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<br>[Pioneering biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [manufacturer Argent](https://pitchbook.com/profiles/company/51278-86) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of large-scale business [production](https://www.crunchbase.com/organization/mission-newenergy) of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the UK, has been [purchased](https://www.pinterest.com.au/missionnewenergy/) by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire & Sons for an [undisclosed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) amount.<br>
<br>Argent makes green road fuel by [recycling wastes](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and [residues](https://www.businessnews.com.au/Company/Mission-NewEnergy) such as [utilized cooking](https://www.pinterest.com.au/missionnewenergy/) oil and tallow from the meat market.<br>
<br>The firm will stay in private ownership and will continue to run separately.<br>
<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and [financial director](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [Jim Boyd](https://www.businessnews.com.au/Company/Mission-NewEnergy) are to stay with the [company](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Souter Investments, the personal investment firm of [transportation tycoon](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Sir Brian Souter, [validated](https://www.bloomberg.com/profile/company/MNELF:US) it had actually [offered](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) its 37% stake in Argent.<br>
<br>['Future](https://www.crunchbase.com/organization/mission-newenergy) capacity'<br>
<br>Mr [Walker stated](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) the financial investment by John Swire underlined Argent's strong market position, including there was now a chance "to take Argent's skills further afield".<br>
<br> Swire, of John Swire, stated his company was committed to "exploring and buying innovative and practical green industries".<br>
<br>He included: "We are thrilled to be obtaining Argent Energy, a company which we think can grow and prosper not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
<br>"[John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) & Sons Ltd sees in Argent Energy's staff members a mix of attributes and worths that work with our own, and look forward to dealing with them to [increase Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Energy's future](https://www.zoominfo.com/c/mission-newenergy/346542889) capacity."<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 up to 50 million litres of biodiesel 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>