Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) manufacturer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of [large-scale commercial](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [production](https://www.zoominfo.com/c/mission-newenergy/346542889) of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has been bought by a [green investment](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) firm.<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.bloomberg.com/profile/company/MNELF:US) Swire & Sons for an [undisclosed](https://www.crunchbase.com/organization/mission-newenergy) amount.<br>
+<br>Argent makes [green roadway](https://www.businessnews.com.au/Company/Mission-NewEnergy) fuel by recycling wastes and residues such as used [cooking oil](https://pitchbook.com/profiles/company/51278-86) and tallow from the meat market.<br>
+<br>The [company](https://stocktwits.com/symbol/MNEL) will stay in personal ownership and will [continue](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to run individually.<br>
+<br>Its senior management, [including chairman](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to stay with the company.<br>
+<br>Souter Investments, the personal investment business of [transportation magnate](https://www.zoominfo.com/c/mission-newenergy/346542889) Sir Brian Souter, [verified](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) it had  its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr [Walker stated](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) the investment by John Swire [highlighted Argent's](https://www.bloomberg.com/profile/company/MNELF:US) strong market position, including there was now an opportunity "to take Argent's skills additional afield".<br>
+<br>Barnaby Swire, of John Swire, said his company was devoted to "checking out and purchasing innovative and viable green markets".<br>
+<br>He added: "We are happy to be acquiring Argent Energy, a company which we believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://forest500.org/rankings/companies/mission-newenergy-limited) a mix of [qualities](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and worths that are compatible with our own, and eagerly anticipate working with them to [maximise Argent](https://stocktwits.com/symbol/MNEL) Energy's future potential."<br>
+<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) 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>