Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [producer Argent](https://www.businessnews.com.au/Company/Mission-NewEnergy) Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of massive commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been bought by a [green investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) [business](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
+<br>Argent, based near Motherwell, was [offered](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to a subsidiary of London-based John Swire & Sons for an undisclosed amount.<br>
+<br>Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.<br>
+<br>The company will remain in personal ownership and will continue to run individually.<br>
+<br>Its senior management, [consisting](https://www.crunchbase.com/organization/mission-newenergy) of [chairman Andy](https://www.pinterest.com.au/missionnewenergy/) Hunter, handling director Jim Walker and [financial director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Boyd are to remain with the [business](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
+<br>Souter Investments, the personal investment [company](https://www.bloomberg.com/profile/company/MNELF:US) of [transport](https://pitchbook.com/profiles/company/51278-86) [magnate Sir](https://www.pinterest.com.au/missionnewenergy/) Brian Souter, confirmed it had actually offered its 37% stake in Argent.<br>
+<br>['Future](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) capacity'<br>
+<br>Mr Walker said the financial investment by John Swire [underlined Argent's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile)  position, adding there was now a chance "to take Argent's skills further afield".<br>
+<br>Barnaby Swire, of John Swire, said his company was [committed](https://www.businessnews.com.au/Company/Mission-NewEnergy) to "exploring and investing in innovative and practical green industries".<br>
+<br>He included: "We are thrilled to be acquiring Argent Energy, a business which we think can grow and succeed not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
+<br>"[John Swire](https://www.pinterest.com.au/missionnewenergy/) & Sons Ltd sees in [Argent Energy's](https://www.google.com/search?kgmid=/m/0cqd_rb) staff members a mix of [qualities](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and values that work with our own, and [eagerly anticipate](https://stocktwits.com/symbol/MNEL) dealing with them to maximise Argent Energy's future potential."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) 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>