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Add Pioneering Biodiesel Producer Argent Energy Sold

Grant Mehler 2025-01-12 06:17:59 +01:00
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<br>[Pioneering biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) [producer](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [large-scale commercial](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) production of [biodiesel](https://forest500.org/rankings/companies/mission-newenergy-limited) in the UK, has actually been bought by a [green investment](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [London-based John](https://stocktwits.com/symbol/MNEL) Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as used [cooking oil](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and tallow from the meat industry.<br>
<br>The company will remain in private ownership and will continue to run individually.<br>
<br>Its senior management, consisting of chairman Andy Hunter, [managing director](https://stocktwits.com/symbol/MNEL) Jim Walker and financial director [Jim Boyd](https://www.zoominfo.com/c/mission-newenergy/346542889) are to remain with the .<br>
<br>Souter Investments, the [private investment](https://www.crunchbase.com/organization/mission-newenergy) company of [transportation magnate](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) Sir Brian Souter, verified it had sold its 37% stake in Argent.<br>
<br>['Future](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) potential'<br>
<br>Mr Walker said the financial investment by John [Swire highlighted](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [Argent's strong](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) market position, including there was now a chance "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire, of John Swire, stated his company was dedicated to "checking out and investing in ingenious and viable green industries".<br>
<br>He included: "We are delighted to be obtaining Argent Energy, a company which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) employees a mix of characteristics and worths that are compatible with our own, and look [forward](https://www.crunchbase.com/organization/mission-newenergy) to [dealing](https://forest500.org/rankings/companies/mission-newenergy-limited) with them to [increase Argent](https://forest500.org/rankings/companies/mission-newenergy-limited) Energy's future capacity."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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>