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Add Pioneering Biodiesel Producer Argent Energy Sold

Lamar Streeton 2025-01-12 18:37:43 +08:00
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<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [producer](https://www.google.com/search?kgmid=/m/0cqd_rb) [Argent Energy](https://www.businessnews.com.au/Company/Mission-NewEnergy) sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [massive industrial](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [production](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has been bought by a firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://pitchbook.com/profiles/company/51278-86) of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for an [undisclosed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) amount.<br>
<br>Argent makes green roadway fuel by [recycling wastes](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and [residues](https://www.bloomberg.com/profile/company/MNELF:US) such as [utilized cooking](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) oil and tallow from the meat market.<br>
<br>The company will remain in personal ownership and will continue to run independently.<br>
<br>Its senior management, [including chairman](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the [company](https://stocktwits.com/symbol/MNEL).<br>
<br>Souter Investments, the personal investment firm of [transport magnate](https://www.google.com/search?kgmid=/m/0cqd_rb) Sir Brian Souter, [verified](https://www.pinterest.com.au/missionnewenergy/) it had actually sold its 37% stake in Argent.<br>
<br>['Future](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) potential'<br>
<br>Mr Walker said the financial investment by John [Swire highlighted](https://www.bloomberg.com/profile/company/MNELF:US) [Argent's strong](https://www.pinterest.com.au/missionnewenergy/) market position, adding there was now an opportunity "to take Argent's skills additional afield".<br>
<br>Barnaby Swire, of John Swire, stated his company was committed to "exploring and purchasing innovative and practical green industries".<br>
<br>He included: "We are thrilled to be acquiring Argent Energy, a business which we believe can grow and prosper not only within the UK however also 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 a mix of attributes and values that are compatible with our own, and look forward to dealing with them to maximise Argent [Energy's future](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) capacity."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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>