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Add Pioneering Biodiesel Producer Argent Energy Sold

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Meagan Haly 2025-01-10 23:29:25 +01:00
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<br>[Pioneering](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [manufacturer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://forest500.org/rankings/companies/mission-newenergy-limited) of large-scale business production of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has been [purchased](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by a green investment business.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of London-based John Swire & Sons for a concealed sum.<br>
<br>Argent makes [green roadway](https://forest500.org/rankings/companies/mission-newenergy-limited) fuel by recycling wastes and residues such as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil and tallow from the meat market.<br>
<br>The [company](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) will remain in [personal ownership](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and will to run individually.<br>
<br>Its senior management, [consisting](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of chairman Andy Hunter, managing [director Jim](https://www.pinterest.com.au/missionnewenergy/) Walker and [monetary director](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the personal investment [business](https://forest500.org/rankings/companies/mission-newenergy-limited) of transport magnate Sir Brian Souter, [validated](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) it had offered its 37% stake in Argent.<br>
<br>['Future](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) capacity'<br>
<br>Mr Walker stated the investment by [John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) underlined Argent's [strong market](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) position, including there was now a chance "to take Argent's skills more afield".<br>
<br>Barnaby Swire, of John Swire, said his company was dedicated to "exploring and purchasing ingenious and feasible green industries".<br>
<br>He added: "We are delighted to be obtaining Argent Energy, a company which our company believe can grow and succeed not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of characteristics and values that are suitable with our own, and anticipate dealing with them to maximise [Argent Energy's](https://forest500.org/rankings/companies/mission-newenergy-limited) future capacity."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of 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.energy-xprt.com/companies/mission-newenergy-limited-36048) 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>