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Add Pioneering Biodiesel Producer Argent Energy Sold

Marcella Dyal 2025-01-12 15:51:05 +08:00
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<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) manufacturer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive industrial [production](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has been bought by a [green investment](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) firm.<br>
<br>Argent, based near Motherwell, was [offered](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to a [subsidiary](https://www.bloomberg.com/profile/company/MNELF:US) of [London-based John](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire & Sons for an [undisclosed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) amount.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the [meat industry](https://www.bloomberg.com/profile/company/MNELF:US).<br>
<br>The firm will remain in personal ownership and will continue to run [separately](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>Its senior management, including chairman Andy Hunter, [handling director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jim Walker and [financial director](https://www.google.com/search?kgmid=/m/0cqd_rb) Jim Boyd are to stay with the business.<br>
<br>Souter Investments, the private financial investment [business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of Sir Brian Souter, confirmed it had sold its 37% stake in Argent.<br>
<br>['Future](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) potential'<br>
<br>Mr Walker said the [financial investment](https://www.bloomberg.com/profile/company/MNELF:US) by John Swire underlined Argent's strong market position, [including](https://www.crunchbase.com/organization/mission-newenergy) there was now a chance "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire, of John Swire, stated his business was dedicated to "checking out and investing in ingenious and practical green markets".<br>
<br>He included: "We are pleased to be getting Argent Energy, a business which our company believe can grow and flourish not just within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of qualities and values that are [suitable](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) with our own, and anticipate dealing with them to maximise [Argent Energy's](https://www.crunchbase.com/organization/mission-newenergy) [future potential](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included 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.zoominfo.com/c/mission-newenergy/346542889) 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>