Add Pioneering Biodiesel Producer Argent Energy Sold

Leia Swope 2025-01-18 09:32:19 +01:00
commit 4d39c6b396
1 changed files with 19 additions and 0 deletions

@ -0,0 +1,19 @@
<br>Pioneering [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [producer Argent](https://stocktwits.com/symbol/MNEL) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale commercial production of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has been bought by a green investment firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for an [undisclosed](https://www.pinterest.com.au/missionnewenergy/) amount.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as used [cooking oil](https://www.businessnews.com.au/Company/Mission-NewEnergy) and tallow from the meat industry.<br>
<br>The firm will remain in [private ownership](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and will continue to run separately.<br>
<br>Its senior management, consisting of [chairman Andy](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Hunter, [handling director](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [Jim Walker](https://forest500.org/rankings/companies/mission-newenergy-limited) and monetary director Jim Boyd are to stay with the business.<br>
<br>Souter Investments, the personal financial [investment company](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [transport](https://www.pinterest.com.au/missionnewenergy/) magnate Sir Brian Souter, confirmed it had actually [offered](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) its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the financial investment by [John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) underlined market position, adding there was now an [opportunity](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) "to take Argent's skills further afield".<br>
<br>[Barnaby](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Swire, of John Swire, stated his business was committed to "exploring and purchasing innovative and viable green industries".<br>
<br>He added: "We are happy to be getting Argent Energy, a business which our company believe can grow and flourish not just within the UK however also overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](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) [workers](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a mix of qualities and worths that work with our own, and anticipate dealing with them to increase Argent [Energy's](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) future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) 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>