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Add Pioneering Biodiesel Producer Argent Energy Sold

France Riddick 2025-01-12 00:14:32 +00:00
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<br>[Pioneering](https://www.bloomberg.com/profile/company/MNELF:US) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [manufacturer Argent](https://www.bloomberg.com/profile/company/MNELF:US) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) of large-scale commercial production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has been bought by a [green investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of London-based John Swire & Sons for an [undisclosed](https://www.businessnews.com.au/Company/Mission-NewEnergy) sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and [residues](https://stocktwits.com/symbol/MNEL) such as utilized cooking oil and tallow from the meat market.<br>
<br>The [company](https://forest500.org/rankings/companies/mission-newenergy-limited) will remain in personal ownership and will continue to run individually.<br>
<br>Its senior management, including chairman Andy Hunter, [managing director](https://www.google.com/search?kgmid=/m/0cqd_rb) Jim Walker and [financial](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) director are to stay with the company.<br>
<br>Souter Investments, the personal financial [investment](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) company of [transport tycoon](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Sir Brian Souter, verified it had [offered](https://www.crunchbase.com/organization/mission-newenergy) its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr [Walker stated](https://www.google.com/search?kgmid=/m/0cqd_rb) the financial investment by John Swire underlined [Argent's strong](https://www.businessnews.com.au/Company/Mission-NewEnergy) market position, adding there was now a chance "to take Argent's abilities more afield".<br>
<br>Barnaby Swire, of John Swire, stated his company was [committed](https://forest500.org/rankings/companies/mission-newenergy-limited) to "exploring and buying innovative and viable green industries".<br>
<br>He added: "We are happy to be acquiring 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 business are familiar.<br>
<br>"[John Swire](https://forest500.org/rankings/companies/mission-newenergy-limited) & Sons Ltd sees in Argent Energy's workers a mix of characteristics and worths that are compatible with our own, and anticipate working with them to maximise Argent Energy's [future potential](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html)."<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 approximately 50 million litres of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) 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>