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Add Pioneering Biodiesel Producer Argent Energy Sold

Julieta McGeehan 2025-01-11 19:58:28 -06:00
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<br>[Pioneering biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [producer Argent](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business [production](https://www.zoominfo.com/c/mission-newenergy/346542889) of [biodiesel](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) in the UK, has actually been bought by a green investment business.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of London-based John Swire & Sons for a concealed sum.<br>
<br>Argent makes [green road](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) fuel by [recycling wastes](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and [residues](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) such as used cooking oil and tallow from the [meat industry](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
<br>The firm will stay in personal ownership and will continue to run independently.<br>
<br>Its senior management, [consisting](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of chairman Andy Hunter, handling director Jim Walker and [monetary director](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) [Jim Boyd](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) are to remain with the business.<br>
<br>Souter Investments, the [private financial](https://forest500.org/rankings/companies/mission-newenergy-limited) [investment business](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of [transport tycoon](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Sir Brian Souter, [validated](https://www.pinterest.com.au/missionnewenergy/) it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr [Walker stated](https://pitchbook.com/profiles/company/51278-86) the financial investment by underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities additional afield".<br>
<br>Barnaby Swire, of John Swire, said his company was [devoted](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) to "exploring and buying ingenious and feasible green industries".<br>
<br>He added: "We are happy to be getting Argent Energy, a business which our company believe can grow and prosper not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and worths that are suitable with our own, and [eagerly anticipate](https://pitchbook.com/profiles/company/51278-86) working with them to [increase Argent](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Energy's future potential."<br>
<br>Argent was developed in 2001. In 2009 it was purchased 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.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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>