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Pioneering [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) manufacturer Argent Energy offered
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23 July 2013
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Argent Energy, a pioneer of massive business production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) in the UK, has been [purchased](https://www.crunchbase.com/organization/mission-newenergy) by a green financial [investment](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [business](https://www.bloomberg.com/profile/company/MNELF:US).
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Argent, based near Motherwell, was sold to a [subsidiary](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [London-based John](https://www.businessnews.com.au/Company/Mission-NewEnergy) Swire & Sons for an sum.
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Argent makes green roadway fuel by [recycling wastes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and residues such as utilized cooking oil and tallow from the meat market.
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The firm will stay in personal ownership and will [continue](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) to run individually.
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Its senior management, [consisting](https://www.crunchbase.com/organization/mission-newenergy) of [chairman Andy](https://www.google.com/search?kgmid=/m/0cqd_rb) Hunter, [handling director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Walker and [financial director](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) Jim Boyd are to remain with the business.
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Souter Investments, the personal financial investment [company](https://www.crunchbase.com/organization/mission-newenergy) of transport magnate Sir Brian Souter, [confirmed](https://www.bloomberg.com/profile/company/MNELF:US) it had actually sold its 37% stake in Argent.
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['Future](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) potential'
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Mr Walker said the investment by [John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [underlined Argent's](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) strong market position, [including](https://www.zoominfo.com/c/mission-newenergy/346542889) there was now a chance "to take Argent's skills more afield".
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Barnaby Swire, of John Swire, said his business was committed to "exploring and purchasing innovative and feasible green industries".
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He added: "We are happy to be getting Argent Energy, a company which our company believe can grow and flourish not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.
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"[John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) & Sons Ltd sees in Argent Energy's workers a mix of attributes and values that work with our own, and anticipate dealing with them to maximise Argent Energy's future capacity."
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Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management together with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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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