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Add Pioneering Biodiesel Producer Argent Energy Sold

Gary Valles 2025-01-18 09:30:59 +08:00
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<br>[Pioneering biodiesel](https://www.bloomberg.com/profile/company/MNELF:US) producer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive commercial [production](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been purchased by a [green investment](https://www.crunchbase.com/organization/mission-newenergy) [business](https://www.bloomberg.com/profile/company/MNELF:US).<br>
<br>Argent, based near Motherwell, was [offered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to a subsidiary of London-based John Swire & Sons for a [concealed](https://www.google.com/search?kgmid=/m/0cqd_rb) sum.<br>
<br>Argent makes green roadway fuel by recycling wastes and [residues](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) such as used [cooking oil](https://www.businessnews.com.au/Company/Mission-NewEnergy) and tallow from the meat market.<br>
<br>The company will stay in private ownership and will continue to run individually.<br>
<br>Its senior management, [consisting](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of chairman Andy Hunter, managing [director Jim](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Walker and [financial director](https://pitchbook.com/profiles/company/51278-86) [Jim Boyd](https://www.google.com/search?kgmid=/m/0cqd_rb) are to stay with the company.<br>
<br>Souter Investments, the [personal investment](https://www.crunchbase.com/organization/mission-newenergy) business of transportation magnate Sir Brian Souter, [confirmed](https://forest500.org/rankings/companies/mission-newenergy-limited) it had its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by [John Swire](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [underlined Argent's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) strong market position, adding there was now a chance "to take Argent's skills additional afield".<br>
<br>Barnaby Swire, of John Swire, said his business was dedicated to "exploring and investing in innovative and practical green industries".<br>
<br>He added: "We are happy to be acquiring Argent Energy, a business which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>"[John Swire](https://pitchbook.com/profiles/company/51278-86) & Sons Ltd sees in Argent Energy's workers a mix of [characteristics](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and worths that are compatible with our own, and anticipate working with them to increase Argent [Energy's future](https://www.crunchbase.com/organization/mission-newenergy) potential."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 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>