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Add Pioneering Biodiesel Producer Argent Energy Sold

Arianne Schoenheimer 2025-01-11 13:35:08 +00:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>[Pioneering](https://www.pinterest.com.au/missionnewenergy/) [biodiesel](https://www.pinterest.com.au/missionnewenergy/) [manufacturer Argent](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive commercial [production](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of in the UK, has actually been bought by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed sum.<br>
<br>Argent makes [green roadway](https://www.crunchbase.com/organization/mission-newenergy) fuel by [recycling wastes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and residues such as used cooking oil and tallow from the meat market.<br>
<br>The [company](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) will remain in [personal](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) [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](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to run [independently](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>Its senior management, consisting of [chairman Andy](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) Hunter, [managing director](https://www.pinterest.com.au/missionnewenergy/) Jim Walker and financial director Jim Boyd are to remain with the [business](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>Souter Investments, the personal investment firm of [transportation magnate](https://www.pinterest.com.au/missionnewenergy/) Sir Brian Souter, [confirmed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the financial investment by [John Swire](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) highlighted Argent's strong market position, [including](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) there was now a chance "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Swire, of John Swire, said his company was dedicated to "checking out and investing in innovative and feasible green markets".<br>
<br>He included: "We are pleased to be obtaining Argent Energy, a business which our company believe can grow and flourish not only within the UK however also overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://pitchbook.com/profiles/company/51278-86) a mix of qualities and worths that are compatible with our own, and look forward to dealing with them to increase Argent Energy's future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) 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>