Pioneering Biodiesel Producer Argent Energy Sold

<br>Pioneering [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 biodiesel] [https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html producer] [https://www.bloomberg.com/profile/company/MNELF:US Argent Energy] sold<br><br><br>23 July 2013<br><br><br>Argent Energy, a pioneer of large-scale commercial production of [https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html biodiesel] in the UK, has been [https://stocktwits.com/symbol/MNEL purchased] by a green investment business.<br> <br><br>Argent, based near Motherwell, was [https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm offered] to a [https://www.crunchbase.com/organization/mission-newenergy subsidiary] of [https://www.pinterest.com.au/missionnewenergy/ London-based John] Swire & Sons for a concealed sum.<br><br><br>Argent makes [https://www.bloomberg.com/profile/company/MNELF:US green roadway] fuel by [https://www.pinterest.com.au/missionnewenergy/ recycling wastes] and [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price residues] such as [https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/ utilized cooking] oil and tallow from the meat industry.<br><br><br>The firm will remain in personal ownership and will continue to run [https://www.pinterest.com.au/missionnewenergy/ individually].<br><br><br>Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the company.<br><br><br>Souter Investments, the personal investment firm of [https://pitchbook.com/profiles/company/51278-86 transport magnate] Sir Brian Souter, [https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd validated] it had actually  its 37% stake in Argent.<br><br><br>[https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 'Future] potential'<br><br><br>Mr Walker said the investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities further afield".<br><br><br>[https://www.crunchbase.com/organization/mission-newenergy Barnaby] Swire, of John Swire, said his company was committed to "checking out and buying innovative and practical green markets".<br><br><br>He included: "We are pleased to be obtaining Argent Energy, a business which our company believe can grow and flourish not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br><br><br>"John Swire & Sons Ltd sees in Argent Energy's [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 employees] a mix of [https://www.zoominfo.com/c/mission-newenergy/346542889 qualities] and values that work with our own, and look [https://forest500.org/rankings/companies/mission-newenergy-limited forward] to working with them to maximise Argent Energy's future capacity."<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 up to 50 million litres of [https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html 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>