Add Pioneering Biodiesel Producer Argent Energy Sold

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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+<br> [manufacturer Argent](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [large-scale industrial](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) production of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has actually been purchased by a [green financial](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [company](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
+<br>Argent makes [green road](https://stocktwits.com/symbol/MNEL) fuel by [recycling wastes](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and residues such as utilized cooking oil and tallow from the [meat market](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
+<br>The company will remain in personal ownership and will continue to run separately.<br>
+<br>Its senior management, including chairman Andy Hunter, managing director [Jim Walker](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and financial director Jim Boyd are to remain with the company.<br>
+<br>Souter Investments, the personal investment [company](https://www.bloomberg.com/profile/company/MNELF:US) of transport magnate Sir Brian Souter, verified it had [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 investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's skills additional afield".<br>
+<br>Barnaby Swire, of John Swire, said his [company](https://www.crunchbase.com/organization/mission-newenergy) was [committed](https://www.businessnews.com.au/Company/Mission-NewEnergy) to "exploring and investing in innovative and viable green industries".<br>
+<br>He added: "We are thrilled to be getting Argent Energy, a business which we think can grow and flourish not only within the UK however 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 [workers](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) a mix of qualities and values that work with our own, and [anticipate dealing](https://www.bloomberg.com/profile/company/MNELF:US) with them to increase Argent [Energy's](https://www.crunchbase.com/organization/mission-newenergy) future [potential](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608)."<br>
+<br>Argent was established 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 capability to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 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>