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Add Pioneering Biodiesel Producer Argent Energy Sold

Silas Badilla 2025-01-12 11:52:22 +00:00
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<br>[Pioneering](https://forest500.org/rankings/companies/mission-newenergy-limited) [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [manufacturer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [massive business](https://www.crunchbase.com/organization/mission-newenergy) [production](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire & Sons for a [concealed](https://www.google.com/search?kgmid=/m/0cqd_rb) amount.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as [utilized cooking](https://www.pinterest.com.au/missionnewenergy/) oil and tallow from the meat industry.<br>
<br>The company 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.energy-xprt.com/companies/mission-newenergy-limited-36048) Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the private financial [investment](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [company](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of transportation tycoon Sir Brian Souter, confirmed it had actually sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by John Swire highlighted [Argent's strong](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) market position, adding there was now an "to take Argent's skills more afield".<br>
<br>Barnaby Swire, of John Swire, said his [business](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) was [dedicated](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to "checking out and purchasing innovative and viable green industries".<br>
<br>He added: "We are pleased to be getting 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 are familiar.<br>
<br>"[John Swire](https://www.crunchbase.com/organization/mission-newenergy) & Sons Ltd sees in Argent Energy's workers a mix of characteristics and worths that are compatible with our own, and look [forward](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to dealing with them to [maximise Argent](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [Energy's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) future capacity."<br>
<br>Argent was established 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>