Pioneering Biodiesel Producer Argent Energy Sold

<br>[https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price Pioneering] [https://www.energy-xprt.com/companies/mission-newenergy-limited-36048 biodiesel] [https://stocktwits.com/symbol/MNEL producer Argent] Energy offered<br><br><br>23 July 2013<br><br><br>Argent Energy, a leader of large-scale commercial production of [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price biodiesel] in the UK, has been purchased by a green investment firm.<br><br><br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price undisclosed] sum.<br><br><br>Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 meat market].<br><br><br>The firm will remain in [https://www.pinterest.com.au/missionnewenergy/ private ownership] and will [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 continue] to run separately.<br><br><br>Its senior management, including chairman Andy Hunter,  Jim Walker and [https://www.energy-xprt.com/companies/mission-newenergy-limited-36048 financial] director Jim Boyd are to remain with the company.<br><br><br>Souter Investments, the personal investment [https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/ company] of transportation tycoon Sir Brian Souter, [https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html validated] it had actually [https://www.google.com/search?kgmid=/m/0cqd_rb offered] its 37% stake in Argent.<br><br><br>[https://forest500.org/rankings/companies/mission-newenergy-limited 'Future] potential'<br><br><br>Mr Walker said the investment by John Swire underlined [https://www.bloomberg.com/profile/company/MNELF:US Argent's strong] market position, adding there was now an [https://www.bloomberg.com/profile/company/MNELF:US opportunity] "to take Argent's abilities additional afield".<br><br><br>[https://pitchbook.com/profiles/company/51278-86 Barnaby] Swire, of John Swire, stated his business was dedicated to "exploring and investing in innovative and practical green markets".<br><br><br>He included: "We are pleased to be acquiring Argent Energy, a company which we believe can grow and prosper not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br><br><br>"[https://www.zoominfo.com/c/mission-newenergy/346542889 John Swire] & Sons Ltd sees in [https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/ Argent Energy's] staff members a mix of [https://stocktwits.com/symbol/MNEL characteristics] and values that are [https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/ suitable] with our own, and look forward to working with them to maximise Argent Energy's future potential."<br><br><br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br><br><br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 biodiesel] a year.<br><br><br>Cooking oil to run buses in trial<br><br><br>4 November 2011<br><br><br>Argent Energy<br><br><br>Souter Investments<br>