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Add Pioneering Biodiesel Producer Argent Energy Sold

Nida Francis 2025-01-12 14:13:00 +08:00
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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) [manufacturer Argent](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale industrial production of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has been purchased by a [green investment](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://www.bloomberg.com/profile/company/MNELF:US) amount.<br>
<br>Argent makes green road fuel by recycling wastes and [residues](https://pitchbook.com/profiles/company/51278-86) such as [utilized](https://www.zoominfo.com/c/mission-newenergy/346542889) cooking oil and tallow from the meat industry.<br>
<br>The [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) will remain in private ownership and will continue to run [separately](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>Its senior management, consisting of chairman Andy Hunter, [managing director](https://www.businessnews.com.au/Company/Mission-NewEnergy) Jim Walker and [monetary director](https://www.google.com/search?kgmid=/m/0cqd_rb) [Jim Boyd](https://pitchbook.com/profiles/company/51278-86) are to stay with the [business](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
<br>Souter Investments, the [personal investment](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) firm of [transportation magnate](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Sir Brian Souter, verified it had actually offered its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated the investment by John Swire [underlined Argent's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) strong market position, adding there was now an [opportunity](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) "to take Argent's skills additional afield".<br>
<br> Swire, of John Swire, stated his business was dedicated to "exploring and purchasing ingenious and practical green industries".<br>
<br>He included: "We are delighted to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) [workers](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) a mix of characteristics and values that work with our own, and anticipate dealing with them to [maximise Argent](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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 up to 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>