Add Pioneering Biodiesel Producer Argent Energy Sold

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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+<br>Pioneering [biodiesel](https://www.pinterest.com.au/missionnewenergy/) producer [Argent Energy](https://www.crunchbase.com/organization/mission-newenergy) offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) in the UK, has been [purchased](https://pitchbook.com/profiles/company/51278-86) by a green investment firm.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://pitchbook.com/profiles/company/51278-86) amount.<br>
+<br>Argent makes green roadway fuel by [recycling wastes](https://www.businessnews.com.au/Company/Mission-NewEnergy) and [residues](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) such as used [cooking](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) oil and tallow from the meat market.<br>
+<br>The firm will stay in personal ownership and will continue to run independently.<br>
+<br>Its senior management, [consisting](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of chairman Andy Hunter, handling director Jim Walker and [financial](https://stocktwits.com/symbol/MNEL) [director Jim](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Boyd are to stay with the [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
+<br>Souter Investments, the personal financial  of transport magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker said the investment by John Swire [underlined Argent's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) strong market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
+<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire, of John Swire, stated his business was [dedicated](https://www.google.com/search?kgmid=/m/0cqd_rb) to "exploring and buying innovative and feasible green industries".<br>
+<br>He included: "We are pleased to be getting Argent Energy, a business which we believe can grow and prosper not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
+<br>"[John Swire](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) & Sons Ltd sees in [Argent Energy's](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [employees](https://www.businessnews.com.au/Company/Mission-NewEnergy) a mix of [qualities](https://stocktwits.com/symbol/MNEL) and values that work with our own, and anticipate working with them to [maximise Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Energy's future capacity."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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>