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Add Pioneering Biodiesel Producer Argent Energy Sold

Maik Bernstein 2025-01-14 09:05:03 +08:00
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<br>[Pioneering](https://www.google.com/search?kgmid=/m/0cqd_rb) [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [manufacturer Argent](https://www.bloomberg.com/profile/company/MNELF:US) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of large-scale 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 financial [investment](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [company](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Swire & Sons for a concealed amount.<br>
<br>Argent makes green roadway fuel by recycling wastes and [residues](https://stocktwits.com/symbol/MNEL) such as used cooking oil and tallow from the meat industry.<br>
<br>The [company](https://www.google.com/search?kgmid=/m/0cqd_rb) will stay in [private ownership](https://www.bloomberg.com/profile/company/MNELF:US) and will continue to run individually.<br>
<br>Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to stay with the [company](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>Souter Investments, the firm of [transportation magnate](https://www.businessnews.com.au/Company/Mission-NewEnergy) Sir Brian Souter, confirmed it had sold its 37% stake in Argent.<br>
<br>['Future](https://www.bloomberg.com/profile/company/MNELF:US) capacity'<br>
<br>Mr Walker said the [financial investment](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) by John [Swire highlighted](https://www.bloomberg.com/profile/company/MNELF:US) [Argent's strong](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) market position, adding there was now a chance "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.crunchbase.com/organization/mission-newenergy) Swire, of John Swire, said his company was devoted to "checking out and investing in innovative and practical green industries".<br>
<br>He added: "We are delighted to be obtaining Argent Energy, a business which our company believe can grow and prosper not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"[John Swire](https://forest500.org/rankings/companies/mission-newenergy-limited) & Sons Ltd sees in [Argent Energy's](https://www.bloomberg.com/profile/company/MNELF:US) staff members a mix of qualities and values that work with our own, and look forward to dealing with them to increase Argent Energy's [future potential](https://www.pinterest.com.au/missionnewenergy/)."<br>
<br>Argent was developed 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 capability to produce as much as 50 million litres of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) 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>