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Add Pioneering Biodiesel Producer Argent Energy Sold

Shantell Fleet 2025-01-12 07:44:39 +08:00
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<br>Pioneering [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) manufacturer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of massive business [production](https://stocktwits.com/symbol/MNEL) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been bought by a [green financial](https://stocktwits.com/symbol/MNEL) [investment business](https://stocktwits.com/symbol/MNEL).<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for a concealed amount.<br>
<br>Argent makes green roadway fuel by recycling wastes and [residues](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) such as used cooking oil and tallow from the meat industry.<br>
<br>The company will stay in private ownership and will [continue](https://www.pinterest.com.au/missionnewenergy/) to run individually.<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the private investment firm of transport tycoon Sir Brian Souter, [confirmed](https://stocktwits.com/symbol/MNEL) it had [offered](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) its 37% stake in Argent.<br>
<br>['Future](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) potential'<br>
<br>Mr [Walker stated](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) the investment by [John Swire](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [underlined Argent's](https://www.zoominfo.com/c/mission-newenergy/346542889) strong market position, [including](https://www.google.com/search?kgmid=/m/0cqd_rb) there was now a chance "to take Argent's skills further afield".<br>
<br> Swire, of John Swire, stated his business was devoted to "exploring and buying ingenious and viable green industries".<br>
<br>He added: "We are delighted to be acquiring Argent Energy, a business which we think can grow and prosper not just within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) staff members a mix of [attributes](https://www.google.com/search?kgmid=/m/0cqd_rb) and worths that are suitable with our own, and eagerly anticipate dealing with them to increase Argent [Energy's](https://pitchbook.com/profiles/company/51278-86) [future capacity](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) 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>