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) manufacturer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of [massive commercial](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [production](https://www.zoominfo.com/c/mission-newenergy/346542889) of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has actually been [purchased](https://www.pinterest.com.au/missionnewenergy/) by a green investment firm.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire & Sons for an undisclosed sum.<br>
+<br>Argent makes green road fuel by recycling wastes and  such as used [cooking oil](https://stocktwits.com/symbol/MNEL) and tallow from the meat industry.<br>
+<br>The firm will stay in personal ownership and will [continue](https://www.businessnews.com.au/Company/Mission-NewEnergy) to run [independently](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, [handling director](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Jim Walker and financial director Jim Boyd are to stay with the [company](https://www.pinterest.com.au/missionnewenergy/).<br>
+<br>Souter Investments, the personal financial [investment business](https://stocktwits.com/symbol/MNEL) of [transport tycoon](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Sir Brian Souter, [verified](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) it had sold its 37% stake in Argent.<br>
+<br>['Future](https://www.bloomberg.com/profile/company/MNELF:US) capacity'<br>
+<br>Mr Walker stated the investment by [John Swire](https://stocktwits.com/symbol/MNEL) underlined Argent's strong market position, [including](https://pitchbook.com/profiles/company/51278-86) there was now an opportunity "to take Argent's abilities additional afield".<br>
+<br>[Barnaby](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire, of John Swire, stated his company was committed to "checking out and buying ingenious and feasible green markets".<br>
+<br>He added: "We are happy to be obtaining Argent Energy, a business which our company believe can grow and succeed not only within the UK however also overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of [characteristics](https://stocktwits.com/symbol/MNEL) and values that are compatible with our own, and look forward to dealing with them to maximise Argent Energy's future [capacity](https://www.investing.com/equities/mission-newenergy-ltd-company-profile)."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium which 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.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) 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>