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Add Pioneering Biodiesel Producer Argent Energy Sold

Tiffiny Camidge 2025-01-11 17:28:19 -06:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>Pioneering [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [manufacturer Argent](https://www.businessnews.com.au/Company/Mission-NewEnergy) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale commercial [production](https://stocktwits.com/symbol/MNEL) of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has actually been bought by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://stocktwits.com/symbol/MNEL) of [London-based John](https://www.bloomberg.com/profile/company/MNELF:US) Swire & Sons for a [concealed](https://www.crunchbase.com/organization/mission-newenergy) amount.<br>
<br>Argent makes [green roadway](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) fuel by recycling wastes and [residues](https://stocktwits.com/symbol/MNEL) such as used [cooking oil](https://stocktwits.com/symbol/MNEL) and tallow from the meat industry.<br>
<br>The company will stay in private ownership and will continue to run separately.<br>
<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the [company](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Souter Investments, the personal investment [company](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of transportation magnate [Sir Brian](https://www.google.com/search?kgmid=/m/0cqd_rb) Souter, [verified](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr [Walker stated](https://www.pinterest.com.au/missionnewenergy/) the investment by John Swire [highlighted](https://www.pinterest.com.au/missionnewenergy/) [Argent's strong](https://stocktwits.com/symbol/MNEL) market position, adding there was now an opportunity "to take Argent's abilities more afield".<br>
<br>Barnaby Swire, of John Swire, said his business was devoted to "checking out and investing in ingenious and feasible green industries".<br>
<br>He added: "We are delighted to be getting Argent Energy, a business which our company believe can grow and flourish not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](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) a mix of attributes and values that are suitable with our own, and look to dealing with them to maximise Argent [Energy's](https://www.pinterest.com.au/missionnewenergy/) [future potential](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048)."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 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>