Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) producer Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of large-scale commercial [production](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has been bought by a [green investment](https://www.crunchbase.com/organization/mission-newenergy) firm.<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [London-based John](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) Swire & Sons for a [concealed](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) amount.<br>
+<br>Argent makes  fuel by recycling wastes and [residues](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) such as utilized cooking oil and tallow from the meat industry.<br>
+<br>The firm will remain in personal ownership and will continue to run separately.<br>
+<br>Its senior management, consisting of chairman Andy Hunter, [managing director](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Jim Walker and [monetary director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Boyd are to stay with the [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
+<br>Souter Investments, the personal investment firm of [transport tycoon](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) [Sir Brian](https://stocktwits.com/symbol/MNEL) Souter, [validated](https://stocktwits.com/symbol/MNEL) it had sold its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker stated the financial investment by [John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) underlined Argent's strong market position, adding there was now an opportunity "to take Argent's skills more afield".<br>
+<br>Barnaby Swire, of John Swire, said his company was dedicated to "checking out and investing in ingenious and viable green markets".<br>
+<br>He added: "We are pleased to be acquiring Argent Energy, a business which we believe can grow and succeed not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
+<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) staff members a mix of [attributes](https://www.crunchbase.com/organization/mission-newenergy) and values that are suitable with our own, and [eagerly anticipate](https://www.businessnews.com.au/Company/Mission-NewEnergy) working with them to increase Argent [Energy's future](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [capacity](https://www.crunchbase.com/organization/mission-newenergy)."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) 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>