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Add Pioneering Biodiesel Producer Argent Energy Sold

Elijah Lunn 2025-01-11 21:32:23 +00:00
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<br>Pioneering [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) [manufacturer](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Argent Energy](https://www.zoominfo.com/c/mission-newenergy/346542889) sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [large-scale industrial](https://www.crunchbase.com/organization/mission-newenergy) production of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has actually been purchased by a green investment firm.<br>
<br>Argent, based near Motherwell, was [offered](https://stocktwits.com/symbol/MNEL) to a [subsidiary](https://www.google.com/search?kgmid=/m/0cqd_rb) of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for an [undisclosed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) amount.<br>
<br>Argent makes green road fuel by recycling wastes and [residues](https://www.bloomberg.com/profile/company/MNELF:US) such as utilized cooking oil and tallow from the meat market.<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 Jim Walker and [monetary director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) 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](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) firm of [transportation magnate](https://pitchbook.com/profiles/company/51278-86) Sir Brian Souter, [confirmed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) it had sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr [Walker stated](https://www.zoominfo.com/c/mission-newenergy/346542889) the investment by John Swire [underlined Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) strong market position, adding there was now an [opportunity](https://stocktwits.com/symbol/MNEL) "to take Argent's abilities more afield".<br>
<br> Swire, of John Swire, said his business was [dedicated](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to "exploring and purchasing innovative and viable green markets".<br>
<br>He included: "We are thrilled to be getting Argent Energy, a business which our company believe can grow and prosper not just within the UK but also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"[John Swire](https://pitchbook.com/profiles/company/51278-86) & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and values that work with our own, and look forward to dealing with them to increase Argent Energy's future potential."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) 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>