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Add Pioneering Biodiesel Producer Argent Energy Sold

Gaston Puckett 2025-01-11 13:30:26 -05:00
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<br>Pioneering [biodiesel](https://www.pinterest.com.au/missionnewenergy/) manufacturer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive industrial production of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has actually been bought by a [green investment](https://www.bloomberg.com/profile/company/MNELF:US) firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.pinterest.com.au/missionnewenergy/) of London-based John Swire & Sons for an [undisclosed](https://www.businessnews.com.au/Company/Mission-NewEnergy) sum.<br>
<br>Argent makes [green road](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) fuel by [recycling wastes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and [residues](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) such as used [cooking oil](https://pitchbook.com/profiles/company/51278-86) and tallow from the .<br>
<br>The company will remain in personal ownership and will continue to run [separately](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
<br>Its senior management, [including chairman](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Andy Hunter, [handling director](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Jim Walker and monetary [director Jim](https://stocktwits.com/symbol/MNEL) Boyd are to remain with the [company](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>Souter Investments, the private investment firm of [transport magnate](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Sir Brian Souter, [confirmed](https://forest500.org/rankings/companies/mission-newenergy-limited) it had actually sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the investment by John Swire underlined Argent's strong market position, [including](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) there was now an opportunity "to take Argent's abilities further afield".<br>
<br>Barnaby Swire, of John Swire, said his company was committed to "checking out and purchasing ingenious and feasible green markets".<br>
<br>He added: "We are delighted to be acquiring Argent Energy, a company which our company believe can grow and succeed not just within the UK but also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"[John Swire](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) & Sons Ltd sees in [Argent Energy's](https://www.businessnews.com.au/Company/Mission-NewEnergy) employees a mix of [characteristics](https://www.crunchbase.com/organization/mission-newenergy) and worths that are compatible with our own, and eagerly anticipate dealing with them to maximise Argent Energy's future potential."<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 capacity to produce as much as 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) 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>