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Add Pioneering Biodiesel Producer Argent Energy Sold

Anthony Butz 2025-01-11 14:13:37 +00:00
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<br>Pioneering [biodiesel](https://www.pinterest.com.au/missionnewenergy/) [manufacturer](https://www.pinterest.com.au/missionnewenergy/) offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [large-scale industrial](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) production of biodiesel in the UK, has actually been [purchased](https://www.businessnews.com.au/Company/Mission-NewEnergy) by a [green investment](https://www.crunchbase.com/organization/mission-newenergy) firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire & Sons for a concealed amount.<br>
<br>Argent makes [green road](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.<br>
<br>The firm will remain in [private ownership](https://stocktwits.com/symbol/MNEL) and will continue to run [separately](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
<br>Its senior management, [consisting](https://pitchbook.com/profiles/company/51278-86) of [chairman Andy](https://www.crunchbase.com/organization/mission-newenergy) Hunter, managing director [Jim Walker](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and [monetary director](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Jim Boyd are to remain with the business.<br>
<br>Souter Investments, the private financial investment business of transportation magnate Sir Brian Souter, verified it had offered its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated the financial investment by [John Swire](https://www.pinterest.com.au/missionnewenergy/) [underlined](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [Argent's](https://stocktwits.com/symbol/MNEL) [strong market](https://www.bloomberg.com/profile/company/MNELF:US) position, adding there was now a chance "to take Argent's abilities additional afield".<br>
<br>Barnaby Swire, of John Swire, stated his [company](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) was [committed](https://www.businessnews.com.au/Company/Mission-NewEnergy) to "checking out and purchasing ingenious and viable green markets".<br>
<br>He added: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and flourish not just within the UK but also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of characteristics and values that work 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 future capacity."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 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>