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Add Pioneering Biodiesel Producer Argent Energy Sold

Wilbur Garrison 2025-01-11 03:18:23 +03:00
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<br>Pioneering [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) producer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive commercial [production](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has been bought by a green investment [business](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire & Sons for a concealed amount.<br>
<br>Argent makes [green road](https://www.zoominfo.com/c/mission-newenergy/346542889) fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.<br>
<br>The [company](https://forest500.org/rankings/companies/mission-newenergy-limited) will remain in private ownership and will continue to run [individually](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>Its senior management, consisting of [chairman Andy](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Hunter, [handling director](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jim Walker and financial director [Jim Boyd](https://forest500.org/rankings/companies/mission-newenergy-limited) are to stay with the [business](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
<br>Souter Investments, the [personal investment](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) firm of [transport magnate](https://www.bloomberg.com/profile/company/MNELF:US) [Sir Brian](https://pitchbook.com/profiles/company/51278-86) Souter, [confirmed](https://www.bloomberg.com/profile/company/MNELF:US) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker stated the financial investment by John [Swire highlighted](https://www.zoominfo.com/c/mission-newenergy/346542889) [Argent's](https://pitchbook.com/profiles/company/51278-86) strong market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
<br>[Barnaby](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Swire, of John Swire, stated his company was [committed](https://stocktwits.com/symbol/MNEL) to "checking out and purchasing innovative and viable green industries".<br>
<br>He included: "We are thrilled to be obtaining Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>" & Sons Ltd sees in Argent Energy's employees a mix of characteristics and values that are suitable with our own, and look [forward](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to working with them to increase Argent Energy's future potential."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of biodiesel 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>