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Add Pioneering Biodiesel Producer Argent Energy Sold

Reda Bustillos 2025-01-12 06:06:21 +08:00
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<br>Pioneering biodiesel [producer Argent](https://www.businessnews.com.au/Company/Mission-NewEnergy) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [large-scale business](https://pitchbook.com/profiles/company/51278-86) [production](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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://stocktwits.com/symbol/MNEL) firm.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.pinterest.com.au/missionnewenergy/) of [London-based John](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Swire & Sons for a concealed sum.<br>
<br>Argent makes [green road](https://stocktwits.com/symbol/MNEL) fuel by recycling wastes and residues such as used and tallow from the meat market.<br>
<br>The firm will remain in private ownership and will continue to run [separately](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Its senior management, including chairman Andy Hunter, [handling director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Walker and [financial director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Boyd are to stay with the [business](https://pitchbook.com/profiles/company/51278-86).<br>
<br>Souter Investments, the personal investment firm of transport tycoon Sir Brian Souter, validated it had offered its 37% stake in Argent.<br>
<br>['Future](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) capacity'<br>
<br>Mr Walker said the [financial investment](https://www.zoominfo.com/c/mission-newenergy/346542889) by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.bloomberg.com/profile/company/MNELF:US) Swire, of John Swire, said his [company](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) was dedicated to "exploring and investing in innovative and viable green markets".<br>
<br>He included: "We are delighted to be getting Argent Energy, a company which our company believe can grow and succeed not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [employees](https://www.crunchbase.com/organization/mission-newenergy) a mix of [qualities](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and worths that work with our own, and anticipate working with them to increase Argent Energy's future [potential](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included 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.pinterest.com.au/missionnewenergy/) 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>