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Add Pioneering Biodiesel Producer Argent Energy Sold

Margareta Atwood 2025-01-18 14:14:52 +08:00
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<br>[Pioneering](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) producer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [large-scale business](https://www.pinterest.com.au/missionnewenergy/) [production](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) in the UK, has actually been purchased by a green financial investment business.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire & Sons for an sum.<br>
<br>Argent makes [green roadway](https://stocktwits.com/symbol/MNEL) fuel by recycling wastes and residues such as [utilized cooking](https://www.businessnews.com.au/Company/Mission-NewEnergy) oil and tallow from the meat market.<br>
<br>The company will remain in [private ownership](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) and will continue to run individually.<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and [financial director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Boyd are to stay with the company.<br>
<br>Souter Investments, the personal financial [investment company](https://www.pinterest.com.au/missionnewenergy/) of [transportation](https://www.bloomberg.com/profile/company/MNELF:US) magnate Sir Brian Souter, [confirmed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) it had [offered](https://www.crunchbase.com/organization/mission-newenergy) its 37% stake in Argent.<br>
<br>['Future](https://www.google.com/search?kgmid=/m/0cqd_rb) capacity'<br>
<br>Mr Walker stated the financial investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire, of John Swire, stated his [company](https://www.google.com/search?kgmid=/m/0cqd_rb) was [committed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to "checking out and investing in innovative and feasible green markets".<br>
<br>He added: "We are pleased to be obtaining Argent Energy, a company which we think can grow and flourish not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) a mix of attributes and worths that are compatible with our own, and eagerly anticipate working with them to maximise Argent [Energy's](https://www.businessnews.com.au/Company/Mission-NewEnergy) future potential."<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 as much as 50 million litres of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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>