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Add Pioneering Biodiesel Producer Argent Energy Sold

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Lucie Ventura 2025-01-11 00:30:00 -08:00
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<br>Pioneering [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [manufacturer Argent](https://stocktwits.com/symbol/MNEL) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been purchased by a green investment firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.businessnews.com.au/Company/Mission-NewEnergy) Swire & Sons for an undisclosed amount.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the [meat industry](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
<br>The company will remain in personal ownership and will continue to run individually.<br>
<br>Its senior management, [including chairman](https://stocktwits.com/symbol/MNEL) Andy Hunter, handling director [Jim Walker](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) and monetary director [Jim Boyd](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) are to stay with the company.<br>
<br>Souter Investments, the private financial [investment business](https://www.zoominfo.com/c/mission-newenergy/346542889) of [transportation tycoon](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Sir Brian Souter, confirmed it had actually [offered](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) its 37% stake in Argent.<br>
<br>['Future](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) potential'<br>
<br>Mr Walker said the investment by John Swire [underlined Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [strong market](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) position, [including](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire, of John Swire, stated his company was devoted to "checking out and purchasing ingenious and feasible green markets".<br>
<br>He added: "We are happy to be acquiring Argent Energy, a business which our company believe can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
<br>"[John Swire](https://forest500.org/rankings/companies/mission-newenergy-limited) & Sons Ltd sees in [Argent Energy's](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) workers a mix of and values that are suitable with our own, and [eagerly anticipate](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [dealing](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) with them to increase Argent Energy's future potential."<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 approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) 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>