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Add Pioneering Biodiesel Producer Argent Energy Sold

Grant Holley 2025-01-12 01:23:18 +03:00
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<br>[Pioneering](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [producer Argent](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive industrial [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been bought by a [green investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) firm.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for an [undisclosed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) sum.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as used [cooking oil](https://www.pinterest.com.au/missionnewenergy/) and tallow from the [meat market](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>The firm will remain in personal ownership and will [continue](https://pitchbook.com/profiles/company/51278-86) to run independently.<br>
<br>Its senior management, [including chairman](https://pitchbook.com/profiles/company/51278-86) Andy Hunter, [handling director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Walker and [monetary director](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Jim Boyd are to stay with the [business](https://stocktwits.com/symbol/MNEL).<br>
<br>Souter Investments, the [private investment](https://www.pinterest.com.au/missionnewenergy/) firm of transportation tycoon Sir Brian Souter, [verified](https://www.crunchbase.com/organization/mission-newenergy) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the financial investment by John Swire [highlighted Argent's](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) strong market position, [including](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) there was now a chance "to take Argent's skills more afield".<br>
<br>[Barnaby](https://pitchbook.com/profiles/company/51278-86) Swire, of John Swire, said his company was devoted to "exploring and buying ingenious and feasible green industries".<br>
<br>He added: "We are pleased to be obtaining Argent Energy, a company which we think can grow and prosper not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in staff members a mix of attributes and values that work with our own, and anticipate dealing with them to increase Argent Energy's future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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>