Add Pioneering Biodiesel Producer Argent Energy Sold
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<br>[Pioneering](https://www.crunchbase.com/organization/mission-newenergy) [biodiesel](https://www.pinterest.com.au/missionnewenergy/) producer Argent Energy offered<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a leader of [large-scale business](https://www.bloomberg.com/profile/company/MNELF:US) production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has been purchased by a green investment company.<br>
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<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
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<br>Argent makes [green road](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) fuel by recycling wastes and residues such as [utilized cooking](https://www.zoominfo.com/c/mission-newenergy/346542889) oil and tallow from the meat market.<br>
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<br>The [company](https://www.pinterest.com.au/missionnewenergy/) will remain in [personal ownership](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and will [continue](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) to run individually.<br>
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<br>Its senior management, [including chairman](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) Andy Hunter, managing director Jim Walker and [monetary director](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Jim Boyd are to stay with the [business](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
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<br>Souter Investments, the [private investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) firm of transport tycoon Sir Brian Souter, verified it had [offered](https://stocktwits.com/symbol/MNEL) its 37% stake in Argent.<br>
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<br>['Future](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) potential'<br>
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<br>Mr Walker said the investment by [John Swire](https://www.crunchbase.com/organization/mission-newenergy) underlined Argent's strong market position, including there was now a chance "to take Argent's skills further afield".<br>
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<br>[Barnaby](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire, of John Swire, stated his was devoted to "exploring and purchasing ingenious and practical green industries".<br>
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<br>He included: "We are pleased to be getting Argent Energy, a company which we think can grow and succeed not only within the UK however also overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
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<br>"[John Swire](https://www.zoominfo.com/c/mission-newenergy/346542889) & Sons Ltd sees in [Argent Energy's](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [employees](https://www.businessnews.com.au/Company/Mission-NewEnergy) a mix of characteristics and worths that work with our own, and anticipate working with them to increase Argent Energy's future potential."<br>
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<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) a year.<br>
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<br>Cooking oil to run buses in trial<br>
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<br>4 November 2011<br>
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<br>Argent Energy<br>
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<br>Souter Investments<br>
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