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[Pioneering biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) [manufacturer Argent](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Energy offered
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23 July 2013
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Argent Energy, a [pioneer](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [large-scale business](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) production of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has actually been [purchased](https://www.zoominfo.com/c/mission-newenergy/346542889) by a green financial [investment](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) company.
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Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire & Sons for a concealed sum.
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Argent makes [green roadway](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) fuel by recycling wastes and residues such as oil and tallow from the meat industry.
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The firm will remain in private ownership and will [continue](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to run [independently](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).
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Its senior management, including chairman Andy Hunter, [managing director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Jim Walker and monetary [director Jim](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Boyd are to remain with the business.
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Souter Investments, the personal investment firm of [transportation magnate](https://www.bloomberg.com/profile/company/MNELF:US) Sir Brian Souter, [confirmed](https://www.crunchbase.com/organization/mission-newenergy) it had actually sold its 37% stake in Argent.
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['Future](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) capacity'
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Mr Walker stated the investment by John Swire underlined [Argent's strong](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) market position, adding there was now a chance "to take Argent's skills additional afield".
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Barnaby Swire, of John Swire, said his company was dedicated to "checking out and buying ingenious and practical green industries".
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He added: "We are delighted to be getting Argent Energy, a company which we think can grow and prosper not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies recognize.
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"John Swire & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) staff members a mix of [qualities](https://www.google.com/search?kgmid=/m/0cqd_rb) and worths that work with our own, and look forward to dealing with them to increase Argent [Energy's future](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) capacity."
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Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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