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Add Pioneering Biodiesel Producer Argent Energy Sold

Holly Goddard 2025-01-11 23:12:19 +08:00
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<br>[Pioneering biodiesel](https://stocktwits.com/symbol/MNEL) producer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale industrial [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has been bought by a [green investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) firm.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire & Sons for an undisclosed amount.<br>
<br>Argent makes green road fuel by recycling wastes and [residues](https://www.google.com/search?kgmid=/m/0cqd_rb) such as used and tallow from the [meat industry](https://www.bloomberg.com/profile/company/MNELF:US).<br>
<br>The firm will remain in private ownership and will continue to run individually.<br>
<br>Its senior management, [including chairman](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Andy Hunter, managing director [Jim Walker](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and financial director [Jim Boyd](https://forest500.org/rankings/companies/mission-newenergy-limited) are to stay with the business.<br>
<br>Souter Investments, the [private investment](https://forest500.org/rankings/companies/mission-newenergy-limited) firm of [transportation tycoon](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Sir Brian Souter, verified it had [offered](https://stocktwits.com/symbol/MNEL) its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr [Walker stated](https://forest500.org/rankings/companies/mission-newenergy-limited) the financial investment by John Swire highlighted [Argent's strong](https://forest500.org/rankings/companies/mission-newenergy-limited) market position, adding there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://forest500.org/rankings/companies/mission-newenergy-limited) Swire, of John Swire, stated his company was committed to "checking out and buying innovative and viable green industries".<br>
<br>He included: "We are pleased to be obtaining Argent Energy, a company which we think 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 [employees](https://stocktwits.com/symbol/MNEL) a mix of [attributes](https://www.google.com/search?kgmid=/m/0cqd_rb) and worths that work with our own, and look forward to dealing with them to maximise Argent [Energy's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [future capacity](https://forest500.org/rankings/companies/mission-newenergy-limited)."<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 approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 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>