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Add Pioneering Biodiesel Producer Argent Energy Sold

Kindra Seppelt 2025-01-18 07:13:42 +00:00
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<br>[Pioneering](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [producer Argent](https://forest500.org/rankings/companies/mission-newenergy-limited) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://stocktwits.com/symbol/MNEL) of large-scale industrial production of [biodiesel](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) in the UK, has actually been purchased by a green investment [business](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green road fuel by recycling wastes and [residues](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) such as [utilized cooking](https://www.zoominfo.com/c/mission-newenergy/346542889) oil and tallow from the meat industry.<br>
<br>The firm will remain in personal ownership and will continue to run individually.<br>
<br>Its senior management, consisting of [chairman Andy](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Hunter, managing director Jim Walker and financial Boyd are to stay with the [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Souter Investments, the private investment firm of [transport tycoon](https://www.zoominfo.com/c/mission-newenergy/346542889) Sir Brian Souter, [validated](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) it had actually [offered](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated 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](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) strong market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
<br>Barnaby Swire, of John Swire, said his [business](https://www.google.com/search?kgmid=/m/0cqd_rb) was [devoted](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to "exploring and purchasing innovative and feasible green industries".<br>
<br>He added: "We are thrilled to be acquiring Argent Energy, a company which our company believe can grow and succeed not just within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) & Sons Ltd sees in Argent Energy's workers a mix of qualities and worths that work with our own, and [eagerly anticipate](https://pitchbook.com/profiles/company/51278-86) dealing with them to increase Argent [Energy's future](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) capacity."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium which included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](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) 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>