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Add Pioneering Biodiesel Producer Argent Energy Sold

Carmen Ferrer 2025-01-12 03:50:22 +08:00
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<br>[Pioneering](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) manufacturer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [large-scale industrial](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [production](https://stocktwits.com/symbol/MNEL) of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) in the UK, has been bought by a [green investment](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://www.zoominfo.com/c/mission-newenergy/346542889) amount.<br>
<br>Argent makes fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.<br>
<br>The company will stay in personal ownership and will continue to run [separately](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
<br>Its senior management, [consisting](https://www.crunchbase.com/organization/mission-newenergy) of [chairman Andy](https://stocktwits.com/symbol/MNEL) Hunter, managing director Jim Walker and [monetary director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Jim Boyd are to remain with the [business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
<br>Souter Investments, the private investment firm of transport magnate Sir Brian Souter, [validated](https://pitchbook.com/profiles/company/51278-86) it had actually [offered](https://www.google.com/search?kgmid=/m/0cqd_rb) its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated the [investment](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) by John [Swire highlighted](https://stocktwits.com/symbol/MNEL) [Argent's strong](https://www.businessnews.com.au/Company/Mission-NewEnergy) market position, adding there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://stocktwits.com/symbol/MNEL) Swire, of John Swire, stated his company was devoted to "exploring and investing in innovative and practical green markets".<br>
<br>He included: "We are happy to be getting Argent Energy, a company which we believe can grow and succeed not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://forest500.org/rankings/companies/mission-newenergy-limited) staff members a mix of attributes and worths that are [suitable](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) with our own, and eagerly anticipate working with them to increase Argent Energy's 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/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.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>