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Add Pioneering Biodiesel Producer Argent Energy Sold

Giuseppe Fortune 2025-01-13 18:27:50 +01:00
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<br>Pioneering [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) [producer](https://stocktwits.com/symbol/MNEL) [Argent Energy](https://stocktwits.com/symbol/MNEL) sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [massive business](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) production of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in the UK, has been purchased by a green investment business.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for an amount.<br>
<br>Argent makes [green road](https://stocktwits.com/symbol/MNEL) fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.<br>
<br>The company will remain in [private ownership](https://www.bloomberg.com/profile/company/MNELF:US) and will continue to run [independently](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
<br>Its senior management, including chairman Andy Hunter, handling director [Jim Walker](https://www.crunchbase.com/organization/mission-newenergy) and [monetary director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the personal financial investment business of [transport magnate](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [Sir Brian](https://pitchbook.com/profiles/company/51278-86) Souter, confirmed it had actually sold its 37% stake in Argent.<br>
<br>['Future](https://stocktwits.com/symbol/MNEL) potential'<br>
<br>Mr Walker said the financial investment by John Swire [underlined Argent's](https://stocktwits.com/symbol/MNEL) [strong market](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) position, including there was now a chance "to take Argent's skills further afield".<br>
<br>Barnaby Swire, of John Swire, said his business was committed to "exploring and purchasing ingenious and practical green markets".<br>
<br>He added: "We are happy to be obtaining Argent Energy, a company which our company believe can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://stocktwits.com/symbol/MNEL) & Sons Ltd sees in [Argent Energy's](https://www.crunchbase.com/organization/mission-newenergy) staff members a mix of characteristics and worths that work with our own, and [eagerly anticipate](https://www.google.com/search?kgmid=/m/0cqd_rb) working with them to [maximise Argent](https://www.bloomberg.com/profile/company/MNELF:US) Energy's future capacity."<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 as much as 50 million litres of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) 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>