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Add Pioneering Biodiesel Producer Argent Energy Sold

Sophia Chestnut 2025-01-18 00:28:15 +00:00
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<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [manufacturer Argent](https://www.crunchbase.com/organization/mission-newenergy) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive commercial production of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has been bought by a [green investment](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) firm.<br>
<br>Argent, based near Motherwell, was sold to a of London-based John Swire & Sons for a concealed sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and [residues](https://www.pinterest.com.au/missionnewenergy/) such as [utilized cooking](https://pitchbook.com/profiles/company/51278-86) oil and tallow from the meat market.<br>
<br>The [company](https://pitchbook.com/profiles/company/51278-86) will remain in [private](https://pitchbook.com/profiles/company/51278-86) ownership and will [continue](https://pitchbook.com/profiles/company/51278-86) to run [separately](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing [director Jim](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Walker and [monetary director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Jim Boyd are to stay with the business.<br>
<br>Souter Investments, the personal financial investment business of transportation magnate [Sir Brian](https://www.bloomberg.com/profile/company/MNELF:US) Souter, [validated](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) it had actually sold its 37% stake in Argent.<br>
<br>['Future](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) potential'<br>
<br>Mr Walker said the [financial investment](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by John Swire underlined Argent's strong market position, [including](https://www.google.com/search?kgmid=/m/0cqd_rb) there was now an opportunity "to take Argent's skills further afield".<br>
<br>[Barnaby](https://www.pinterest.com.au/missionnewenergy/) Swire, of John Swire, stated his company was devoted to "exploring and investing in ingenious and feasible green markets".<br>
<br>He added: "We are happy to be getting Argent Energy, a business which we believe can grow and succeed not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) staff members a mix of [attributes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and worths that are compatible with our own, and eagerly anticipate dealing with them to increase Argent Energy's future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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>