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Add Pioneering Biodiesel Producer Argent Energy Sold

Dulcie Willie 2025-01-12 01:19:05 +01:00
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<br>[Pioneering](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive business production of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has actually been purchased by a green financial investment [company](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.bloomberg.com/profile/company/MNELF:US) of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for a concealed sum.<br>
<br>Argent makes [green roadway](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) fuel by recycling wastes and residues such as utilized cooking oil and tallow from the [meat industry](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
<br>The firm will remain in personal ownership and will [continue](https://www.businessnews.com.au/Company/Mission-NewEnergy) to run separately.<br>
<br>Its senior management, consisting of chairman Andy Hunter, handling [director Jim](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Walker and [financial](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) director Jim Boyd are to stay with the company.<br>
<br>Souter Investments, the private investment firm of [transportation tycoon](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Sir Brian](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Souter, [confirmed](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) it had sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the investment by John Swire highlighted [Argent's strong](https://stocktwits.com/symbol/MNEL) market position, adding there was now a chance "to take Argent's skills further afield".<br>
<br>Barnaby Swire, of John Swire, said his company was dedicated to "exploring and investing in innovative and feasible green industries".<br>
<br>He included: "We are thrilled to be getting Argent Energy, a company which we believe can grow and succeed not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) [employees](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 mix of [characteristics](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and values that are suitable with our own, and look forward to dealing with them to [maximise Argent](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [Energy's](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 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>