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Update 'Pioneering Biodiesel Producer Argent Energy Sold'

Antonio Wedding 2025-01-18 16:42:56 +08:00
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<br>[Pioneering](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [producer Argent](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a [pioneer](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of massive commercial production 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.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 offered to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
<br>Argent makes [green road](https://www.bloomberg.com/profile/company/MNELF:US) fuel by recycling wastes and residues such as [utilized cooking](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) oil and tallow from the [meat industry](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
<br>The [company](https://www.zoominfo.com/c/mission-newenergy/346542889) will stay in [personal ownership](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and will continue to run [independently](https://www.google.com/search?kgmid=/m/0cqd_rb).<br>
<br>Its senior management, including chairman Andy Hunter, Jim Walker and monetary [director](https://www.businessnews.com.au/Company/Mission-NewEnergy) [Jim Boyd](https://pitchbook.com/profiles/company/51278-86) are to stay with the company.<br>
<br>Souter Investments, the personal financial investment company of [transport tycoon](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Sir Brian Souter, validated it had actually [offered](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) its 37% stake in Argent.<br>
<br>['Future](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) potential'<br>
<br>Mr Walker said the investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities more afield".<br>
<br>Barnaby Swire, of John Swire, stated his business was dedicated to "exploring and purchasing innovative and feasible green industries".<br>
<br>He added: "We are happy to be acquiring Argent Energy, a company which our company believe can grow and succeed not just within the UK however also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) & Sons Ltd sees in Argent Energy's [workers](https://www.businessnews.com.au/Company/Mission-NewEnergy) a mix of qualities and worths that are compatible with our own, and look [forward](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to dealing with them to increase Argent Energy's future capacity."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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>