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Add Pioneering Biodiesel Producer Argent Energy Sold

Mariano Parnell 2025-01-18 13:02:11 +01:00
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<br>[Pioneering](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [producer Argent](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of [large-scale business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been [purchased](https://forest500.org/rankings/companies/mission-newenergy-limited) by a green financial investment business.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.zoominfo.com/c/mission-newenergy/346542889) of London-based John Swire & Sons for an amount.<br>
<br>Argent makes [green roadway](https://www.zoominfo.com/c/mission-newenergy/346542889) fuel by [recycling wastes](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and residues such as utilized cooking oil and tallow from the meat industry.<br>
<br>The firm will remain in private ownership and will [continue](https://forest500.org/rankings/companies/mission-newenergy-limited) to run individually.<br>
<br>Its senior management, including chairman Andy Hunter, handling director [Jim Walker](https://www.bloomberg.com/profile/company/MNELF:US) and [financial director](https://www.crunchbase.com/organization/mission-newenergy) Jim Boyd are to remain with the [business](https://pitchbook.com/profiles/company/51278-86).<br>
<br>Souter Investments, the personal financial [investment company](https://stocktwits.com/symbol/MNEL) of transport tycoon Sir Brian Souter, verified it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the financial investment by John Swire underlined Argent's [strong market](https://www.pinterest.com.au/missionnewenergy/) position, adding there was now an opportunity "to take Argent's abilities additional afield".<br>
<br>[Barnaby](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire, of John Swire, said his company was devoted to "exploring and purchasing ingenious and practical green markets".<br>
<br>He added: "We are happy to be getting Argent Energy, a business which we believe can grow and succeed not just within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](https://stocktwits.com/symbol/MNEL) a mix of [attributes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and worths that work with our own, and anticipate working with them to maximise Argent Energy's future capacity."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included 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>