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Add Pioneering Biodiesel Producer Argent Energy Sold

Sondra Wakelin 2025-01-18 11:45:10 +00:00
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<br>[Pioneering](https://www.zoominfo.com/c/mission-newenergy/346542889) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [producer Argent](https://pitchbook.com/profiles/company/51278-86) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [large-scale business](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [production](https://stocktwits.com/symbol/MNEL) of in the UK, has actually been purchased by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.crunchbase.com/organization/mission-newenergy) of London-based John Swire & Sons for a [concealed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) sum.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as [utilized cooking](https://www.pinterest.com.au/missionnewenergy/) oil and tallow from the [meat market](https://stocktwits.com/symbol/MNEL).<br>
<br>The firm will stay in [private ownership](https://www.pinterest.com.au/missionnewenergy/) and will continue to run independently.<br>
<br>Its senior management, consisting of chairman Andy Hunter, [managing](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) director Jim Walker and [financial director](https://www.crunchbase.com/organization/mission-newenergy) [Jim Boyd](https://stocktwits.com/symbol/MNEL) are to stay with the [company](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br>
<br>Souter Investments, the [personal investment](https://www.crunchbase.com/organization/mission-newenergy) firm of transport tycoon Sir Brian Souter, [verified](https://www.pinterest.com.au/missionnewenergy/) it had sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the financial investment by John Swire underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities additional afield".<br>
<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, stated his [business](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) was committed to "exploring and buying ingenious and viable green markets".<br>
<br>He added: "We are pleased to be obtaining Argent Energy, a business which our company believe can grow and flourish not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a mix of characteristics and values that are suitable with our own, and anticipate working with them to increase Argent Energy's [future potential](https://www.bloomberg.com/profile/company/MNELF:US)."<br>
<br>Argent was developed 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 as much as 50 million litres of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) 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>