Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [producer Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of large-scale business production of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has been [purchased](https://pitchbook.com/profiles/company/51278-86) by a [green investment](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) firm.<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [London-based John](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire & Sons for an [undisclosed](https://www.pinterest.com.au/missionnewenergy/) amount.<br>
+<br>Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.<br>
+<br>The firm will remain in personal ownership and will continue to run [separately](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
+<br>Its senior management,  Andy Hunter, [handling director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Walker and [financial](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [director Jim](https://www.bloomberg.com/profile/company/MNELF:US) Boyd are to stay with the company.<br>
+<br>Souter Investments, the private investment [business](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [transport magnate](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Sir Brian](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Souter, [validated](https://www.google.com/search?kgmid=/m/0cqd_rb) it had sold its 37% stake in Argent.<br>
+<br>['Future](https://www.zoominfo.com/c/mission-newenergy/346542889) potential'<br>
+<br>Mr Walker said the investment by John Swire underlined Argent's strong market position, adding there was now a chance "to take Argent's abilities further afield".<br>
+<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire, of John Swire, said his [company](https://www.pinterest.com.au/missionnewenergy/) was devoted to "exploring and buying ingenious and feasible green markets".<br>
+<br>He included: "We are thrilled to be getting Argent Energy, a company which our company believe can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of characteristics and worths that are suitable with our own, and look forward to dealing with them to maximise Argent Energy's future [capacity](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price)."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management together with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) 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>