From 070d312adf396f847c5d3cc2529cc5507066257b Mon Sep 17 00:00:00 2001 From: Eunice Conde Date: Sat, 11 Jan 2025 12:19:21 +0100 Subject: [PATCH] Add Pioneering Biodiesel Producer Argent Energy Sold --- ...g-Biodiesel-Producer-Argent-Energy-Sold.md | 19 +++++++++++++++++++ 1 file changed, 19 insertions(+) create mode 100644 Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md diff --git a/Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md b/Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md new file mode 100644 index 0000000..62ecd32 --- /dev/null +++ b/Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md @@ -0,0 +1,19 @@ +
Pioneering [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [producer](https://www.pinterest.com.au/missionnewenergy/) [Argent Energy](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) offered
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23 July 2013
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Argent Energy, a pioneer of large-scale commercial [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has actually been purchased by a green investment firm.
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Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.
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Argent makes [green road](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) fuel by recycling wastes and residues such as used cooking oil and tallow from the [meat industry](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).
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The firm will stay in personal ownership and will continue to run independently.
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Its senior management, including chairman Andy Hunter, managing director and financial director Jim Boyd are to remain with the business.
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Souter Investments, the [personal investment](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) firm of [transport magnate](https://stocktwits.com/symbol/MNEL) Sir Brian Souter, validated it had actually offered its 37% stake in Argent.
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'Future potential'
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Mr [Walker stated](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) the [financial investment](https://www.pinterest.com.au/missionnewenergy/) by John Swire [highlighted](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Argent's strong](https://www.businessnews.com.au/Company/Mission-NewEnergy) market position, adding there was now an [opportunity](https://www.businessnews.com.au/Company/Mission-NewEnergy) "to take Argent's skills additional afield".
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[Barnaby](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire, of John Swire, said his [business](https://pitchbook.com/profiles/company/51278-86) was [dedicated](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to "checking out and buying innovative and viable green industries".
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He added: "We are delighted to be obtaining Argent Energy, a company which we think can grow and succeed not just within the UK however also overseas, in particular in Asian markets with which Swire Group business are familiar.
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"[John Swire](https://forest500.org/rankings/companies/mission-newenergy-limited) & Sons Ltd sees in Argent Energy's employees a mix of [attributes](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and worths that are [suitable](https://www.google.com/search?kgmid=/m/0cqd_rb) with our own, and look forward to working with them to maximise Argent Energy's future capacity."
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Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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