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Add Pioneering Biodiesel Producer Argent Energy Sold

Ramiro Tait 2025-01-13 11:50:38 +00:00
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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) [producer Argent](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [massive industrial](https://www.google.com/search?kgmid=/m/0cqd_rb) 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](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by a [green investment](https://pitchbook.com/profiles/company/51278-86) firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of [London-based John](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire & Sons for a concealed amount.<br>
<br>Argent makes [green road](https://stocktwits.com/symbol/MNEL) fuel by recycling wastes and residues such as used and tallow from the meat industry.<br>
<br>The firm will remain in private ownership and will continue to run individually.<br>
<br>Its senior management, consisting of chairman Andy Hunter, handling [director Jim](https://www.bloomberg.com/profile/company/MNELF:US) Walker and financial director Jim Boyd are to stay with the [business](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
<br>Souter Investments, the personal financial [investment business](https://www.businessnews.com.au/Company/Mission-NewEnergy) of transportation tycoon Sir Brian Souter, [verified](https://www.pinterest.com.au/missionnewenergy/) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the investment by John Swire underlined Argent's strong market position, including there was now an [opportunity](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire, of John Swire, stated his business was [dedicated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to "exploring and investing in innovative and feasible green markets".<br>
<br>He included: "We are pleased to be getting Argent Energy, a company which we think can grow and succeed not only within the UK however likewise 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.google.com/search?kgmid=/m/0cqd_rb) staff members a mix of characteristics and values that are suitable with our own, and look [forward](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to dealing with them to [maximise Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Energy's future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management along 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.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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>