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Add Pioneering Biodiesel Producer Argent Energy Sold

Lydia Battarbee 2025-01-12 19:05:55 +08:00
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<br>Pioneering [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [producer](https://www.zoominfo.com/c/mission-newenergy/346542889) [Argent Energy](https://www.zoominfo.com/c/mission-newenergy/346542889) sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale commercial [production](https://www.crunchbase.com/organization/mission-newenergy) of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has actually been purchased by a [green investment](https://www.crunchbase.com/organization/mission-newenergy) firm.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as [utilized cooking](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) oil and tallow from the meat industry.<br>
<br>The firm will remain in [private ownership](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and will continue to run independently.<br>
<br>Its senior management, including chairman Andy Hunter, managing director [Jim Walker](https://forest500.org/rankings/companies/mission-newenergy-limited) and Jim Boyd are to remain with the business.<br>
<br>Souter Investments, the personal investment [business](https://pitchbook.com/profiles/company/51278-86) of transportation magnate Sir Brian Souter, confirmed it had [offered](https://www.crunchbase.com/organization/mission-newenergy) its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr [Walker stated](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) the financial [investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) by John Swire underlined [Argent's strong](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) market position, including there was now an opportunity "to take Argent's skills additional afield".<br>
<br>Barnaby Swire, of John Swire, said his [business](https://stocktwits.com/symbol/MNEL) was [committed](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) to "exploring and buying ingenious and feasible green industries".<br>
<br>He added: "We are happy to be getting Argent Energy, a company which we think can grow and succeed not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.bloomberg.com/profile/company/MNELF:US) & Sons Ltd sees in [Argent Energy's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) staff members a mix of [attributes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and worths that are compatible with our own, and look forward to working with them to increase Argent Energy's future capacity."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 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>