Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>[Pioneering](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) producer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of [massive commercial](https://www.google.com/search?kgmid=/m/0cqd_rb) [production](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been bought by a [green investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) firm.<br>
+<br>Argent, based near Motherwell, was offered to a [subsidiary](https://forest500.org/rankings/companies/mission-newenergy-limited) of London-based John Swire & Sons for an undisclosed sum.<br>
+<br>Argent makes green roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.<br>
+<br>The [company](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) will stay in personal ownership and will [continue](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) to run [independently](https://stocktwits.com/symbol/MNEL).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, managing director [Jim Walker](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) and [monetary director](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Jim Boyd are to stay with the [business](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
+<br>Souter Investments, the private investment firm of transportation tycoon Sir Brian Souter, validated it had sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr [Walker stated](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) the [investment](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) by [John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [highlighted Argent's](https://www.crunchbase.com/organization/mission-newenergy) strong market position, including there was now an opportunity "to take Argent's skills more afield".<br>
+<br>[Barnaby](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire, of John Swire, said his business was dedicated to "exploring and purchasing ingenious and practical green markets".<br>
+<br>He added: "We are delighted to be acquiring Argent Energy, a business which our company believe can grow and prosper not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br>
+<br>" & Sons Ltd sees in Argent Energy's staff members a mix of [qualities](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and values that work with our own, and anticipate working with them to [increase Argent](https://www.google.com/search?kgmid=/m/0cqd_rb) Energy's future potential."<br>
+<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](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) 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>