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Add Pioneering Biodiesel Producer Argent Energy Sold

Jonnie Lefler 2025-01-11 19:27:45 +00:00
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<br>[Pioneering](https://www.pinterest.com.au/missionnewenergy/) [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 pioneer of large-scale business [production](https://www.bloomberg.com/profile/company/MNELF:US) of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has actually been [purchased](https://www.crunchbase.com/organization/mission-newenergy) by a [green investment](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as [utilized cooking](https://forest500.org/rankings/companies/mission-newenergy-limited) oil and tallow from the [meat industry](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>The firm will remain in personal ownership and will [continue](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 run [individually](https://stocktwits.com/symbol/MNEL).<br>
<br>Its senior management, [including chairman](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Andy Hunter, handling director Jim Walker and [monetary director](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Jim Boyd are to stay with the [company](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Souter Investments, the [private investment](https://www.google.com/search?kgmid=/m/0cqd_rb) company of transportation magnate Sir Brian Souter, validated it had [offered](https://www.crunchbase.com/organization/mission-newenergy) its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the financial investment by John Swire underlined [Argent's strong](https://www.zoominfo.com/c/mission-newenergy/346542889) market position, including there was now an opportunity "to take Argent's abilities further afield".<br>
<br>Barnaby Swire, of John Swire, said his business was dedicated to "exploring and investing in innovative and feasible green markets".<br>
<br>He included: "We are pleased to be getting Argent Energy, a business which we think can grow and succeed not only within the UK but also overseas, in specific in Asian markets with which Swire Group business recognize.<br>
<br>"[John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) & Sons Ltd sees in staff members a mix of [qualities](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and worths that work with our own, and [anticipate dealing](https://www.zoominfo.com/c/mission-newenergy/346542889) with them to increase Argent Energy's [future capacity](https://www.pinterest.com.au/missionnewenergy/)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of biodiesel 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>