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Add Pioneering Biodiesel Producer Argent Energy Sold

Hope McElhone 2025-01-12 19:32:20 +01:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>Pioneering [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [producer Argent](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [large-scale industrial](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been [purchased](https://stocktwits.com/symbol/MNEL) by a green investment business.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](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) of [London-based John](https://stocktwits.com/symbol/MNEL) Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as used [cooking oil](https://forest500.org/rankings/companies/mission-newenergy-limited) 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, including chairman Andy Hunter, [handling director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Walker and monetary [director Jim](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Boyd are to stay with the [company](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
<br>Souter Investments, the [personal investment](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [company](https://www.bloomberg.com/profile/company/MNELF:US) of [transport magnate](https://www.crunchbase.com/organization/mission-newenergy) Sir Brian Souter, validated 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](https://www.bloomberg.com/profile/company/MNELF:US) market position, adding there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire, of John Swire, said his was [committed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to "checking out and buying innovative and practical green industries".<br>
<br>He added: "We are delighted to be getting Argent Energy, a company which we think can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.crunchbase.com/organization/mission-newenergy) staff members a mix of [characteristics](https://stocktwits.com/symbol/MNEL) and values that work with our own, and anticipate dealing with them to [increase](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) future potential."<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 capacity to produce up to 50 million litres of biodiesel 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>