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Add Pioneering Biodiesel Producer Argent Energy Sold

Ellis Maclean 2025-01-18 15:16:59 +08:00
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<br>[Pioneering](https://www.pinterest.com.au/missionnewenergy/) [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [producer Argent](https://www.businessnews.com.au/Company/Mission-NewEnergy) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business production of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) in the UK, has been by a [green investment](https://pitchbook.com/profiles/company/51278-86) firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of [London-based John](https://forest500.org/rankings/companies/mission-newenergy-limited) Swire & Sons for an [undisclosed](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) sum.<br>
<br>Argent makes [green road](https://www.crunchbase.com/organization/mission-newenergy) fuel by recycling wastes and [residues](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) such as used cooking oil and tallow from the meat industry.<br>
<br>The company will stay in [private ownership](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and will continue to run individually.<br>
<br>Its senior management, [including chairman](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to stay with the business.<br>
<br>Souter Investments, the [personal investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) firm of transport tycoon Sir Brian Souter, [confirmed](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the investment by John Swire [highlighted](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Argent's strong market position, including there was now an [opportunity](https://forest500.org/rankings/companies/mission-newenergy-limited) "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire, of John Swire, stated his business was committed to "exploring and buying innovative and feasible green markets".<br>
<br>He included: "We are delighted to be obtaining Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) & Sons Ltd sees in [Argent Energy's](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) staff members a mix of attributes and values that work with our own, and [anticipate](https://pitchbook.com/profiles/company/51278-86) working with them to maximise Argent Energy's future capacity."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity 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>