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Add Pioneering Biodiesel Producer Argent Energy Sold

Mark Vaude 2025-01-10 16:54:16 +01:00
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<br>[Pioneering biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) [producer Argent](https://www.zoominfo.com/c/mission-newenergy/346542889) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://www.zoominfo.com/c/mission-newenergy/346542889) of [massive industrial](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) production of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has actually been bought by a green investment company.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for a [concealed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) amount.<br>
<br>Argent makes green roadway fuel by [recycling wastes](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) and residues such as used cooking oil and tallow from the [meat market](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>The firm will remain in private ownership and will continue to run independently.<br>
<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and [financial director](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the [private investment](https://stocktwits.com/symbol/MNEL) [business](https://stocktwits.com/symbol/MNEL) of transport magnate Sir Brian Souter, validated it had offered its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the financial investment by John Swire highlighted [Argent's](https://www.google.com/search?kgmid=/m/0cqd_rb) strong market 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 [business](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) was [committed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to "checking out and investing in innovative and viable green markets".<br>
<br>He included: "We are pleased to be acquiring Argent Energy, a business which we think can grow and prosper not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) & Sons Ltd sees in [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) staff members a mix of qualities and worths that are [suitable](https://www.google.com/search?kgmid=/m/0cqd_rb) with our own, and anticipate dealing with them to Argent Energy's future [capacity](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 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>