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Add Pioneering Biodiesel Producer Argent Energy Sold

Neville Lempriere 2025-01-11 19:58:34 +00:00
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<br>Pioneering [biodiesel](https://www.pinterest.com.au/missionnewenergy/) manufacturer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [large-scale business](https://www.bloomberg.com/profile/company/MNELF:US) production of in the UK, has been [purchased](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) by a [green investment](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://pitchbook.com/profiles/company/51278-86) of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for an [undisclosed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) amount.<br>
<br>Argent makes [green roadway](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel by recycling wastes and residues such as used [cooking oil](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and tallow from the [meat industry](https://stocktwits.com/symbol/MNEL).<br>
<br>The firm will stay in private ownership and will [continue](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to run independently.<br>
<br>Its senior management, [including chairman](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the personal investment firm of transport magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr [Walker stated](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) the investment by John Swire [underlined](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [Argent's strong](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
<br>[Barnaby](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire, of John Swire, said his company was [dedicated](https://www.crunchbase.com/organization/mission-newenergy) to "exploring and purchasing innovative and practical green markets".<br>
<br>He included: "We are pleased to be getting Argent Energy, a business which our company believe can grow and succeed not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](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) a mix of qualities and values that are compatible with our own, and [eagerly anticipate](https://www.bloomberg.com/profile/company/MNELF:US) dealing with them to maximise Argent [Energy's future](https://www.bloomberg.com/profile/company/MNELF:US) capacity."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included 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.google.com/search?kgmid=/m/0cqd_rb) 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>