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Add Pioneering Biodiesel Producer Argent Energy Sold

Nigel Wells 2025-01-12 01:56:30 +08:00
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<br>Pioneering biodiesel [producer](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been purchased by a [green financial](https://www.businessnews.com.au/Company/Mission-NewEnergy) [investment](https://forest500.org/rankings/companies/mission-newenergy-limited) [business](https://stocktwits.com/symbol/MNEL).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a [concealed](https://forest500.org/rankings/companies/mission-newenergy-limited) sum.<br>
<br>Argent makes green road fuel by [recycling wastes](https://pitchbook.com/profiles/company/51278-86) and residues such as utilized cooking oil and tallow from the [meat industry](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
<br>The company will remain in personal ownership and will continue to run [individually](https://stocktwits.com/symbol/MNEL).<br>
<br>Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and [monetary director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jim Boyd are to remain with the [company](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
<br>Souter Investments, the private financial investment company of transport magnate [Sir Brian](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Souter, it had actually sold its 37% stake in Argent.<br>
<br>['Future](https://pitchbook.com/profiles/company/51278-86) potential'<br>
<br>Mr Walker said the investment by John Swire underlined Argent's strong market position, adding there was now an [opportunity](https://forest500.org/rankings/companies/mission-newenergy-limited) "to take Argent's skills more afield".<br>
<br>[Barnaby](https://pitchbook.com/profiles/company/51278-86) Swire, of John Swire, said his [business](https://stocktwits.com/symbol/MNEL) was devoted to "checking out and buying ingenious and viable green markets".<br>
<br>He added: "We are happy to be acquiring Argent Energy, a business which we think can grow and succeed not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](https://www.google.com/search?kgmid=/m/0cqd_rb) a mix of [characteristics](https://pitchbook.com/profiles/company/51278-86) and values that are suitable with our own, and look [forward](https://www.businessnews.com.au/Company/Mission-NewEnergy) to working with them to maximise Argent Energy's future [capacity](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price)."<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 as much as 50 million litres of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) 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>