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Add Pioneering Biodiesel Producer Argent Energy Sold

Helena Laster 2025-01-17 22:12:45 +00:00
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<br>Pioneering [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) manufacturer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale industrial production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) in the UK, has been purchased by a green financial [investment company](https://www.bloomberg.com/profile/company/MNELF:US).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green road fuel by [recycling wastes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and residues such as used [cooking oil](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and tallow from the meat industry.<br>
<br>The company will stay in [personal ownership](https://www.bloomberg.com/profile/company/MNELF:US) and will [continue](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to run .<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and [monetary director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jim Boyd are to stay with the [business](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
<br>Souter Investments, the [personal financial](https://www.google.com/search?kgmid=/m/0cqd_rb) investment business of [transport tycoon](https://www.crunchbase.com/organization/mission-newenergy) Sir Brian Souter, verified it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by [John Swire](https://www.google.com/search?kgmid=/m/0cqd_rb) [highlighted](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Argent's strong market position, including there was now an [opportunity](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) "to take Argent's abilities additional afield".<br>
<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, stated his company was [devoted](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to "checking out and purchasing innovative and practical green industries".<br>
<br>He added: "We are happy to be obtaining Argent Energy, a business which we think can grow and prosper not only within the UK but also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) & Sons Ltd sees in [Argent Energy's](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [employees](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) a mix of qualities and worths that are compatible with our own, and anticipate dealing with them to increase Argent Energy's future potential."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium that 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](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>