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Add Pioneering Biodiesel Producer Argent Energy Sold

Gisele Dutton 2025-01-11 02:14:24 +00:00
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<br>[Pioneering](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of large-scale business production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has actually been purchased by a [green investment](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [business](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://stocktwits.com/symbol/MNEL) of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for an [undisclosed](https://www.pinterest.com.au/missionnewenergy/) amount.<br>
<br>Argent makes green roadway fuel by [recycling wastes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and residues such as utilized cooking oil and tallow from the [meat market](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
<br>The company will remain in personal ownership and will continue to run [individually](https://www.bloomberg.com/profile/company/MNELF:US).<br>
<br>Its senior management, consisting of chairman Andy Hunter, [managing director](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jim Walker and monetary director Jim Boyd are to stay with the company.<br>
<br>Souter Investments, the [personal investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) company of [transport tycoon](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Sir Brian Souter, verified it had offered its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the financial investment by highlighted Argent's strong market position, including there was now a chance "to take Argent's abilities additional afield".<br>
<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire, of John Swire, stated his business was devoted to "checking out and investing in ingenious and viable green markets".<br>
<br>He included: "We are thrilled to be getting Argent Energy, a company which our company believe can grow and prosper not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) & Sons Ltd sees in [Argent Energy's](https://stocktwits.com/symbol/MNEL) [employees](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) a mix of attributes and worths that work with our own, and eagerly anticipate working with them to [maximise Argent](https://www.crunchbase.com/organization/mission-newenergy) Energy's future [capacity](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm)."<br>
<br>Argent was developed 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://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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>