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) producer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has been bought by a green investment [business](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053).<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of [London-based John](https://www.bloomberg.com/profile/company/MNELF:US) Swire & Sons for a [concealed](https://www.businessnews.com.au/Company/Mission-NewEnergy) sum.<br>
+<br>Argent makes  fuel by recycling wastes and [residues](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) such as utilized [cooking oil](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and tallow from the [meat industry](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>The [company](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) will remain in [private ownership](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and will continue to run [separately](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
+<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the company.<br>
+<br>Souter Investments, the [private investment](https://pitchbook.com/profiles/company/51278-86) firm of [transportation tycoon](https://www.zoominfo.com/c/mission-newenergy/346542889) [Sir Brian](https://stocktwits.com/symbol/MNEL) Souter, verified it had actually sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker stated the investment by [John Swire](https://www.zoominfo.com/c/mission-newenergy/346542889) highlighted Argent's strong market position, including there was now an opportunity "to take Argent's skills additional afield".<br>
+<br>Barnaby Swire, of John Swire, stated his company was [dedicated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to "exploring and investing in ingenious and practical green industries".<br>
+<br>He included: "We are delighted to be getting Argent Energy, a business which our company believe can grow and succeed not just within the UK but also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
+<br>"[John Swire](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) & Sons Ltd sees in Argent Energy's [workers](https://www.businessnews.com.au/Company/Mission-NewEnergy) a mix of qualities and values that work with our own, and [anticipate dealing](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) with them to maximise Argent Energy's future potential."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium which included senior management together with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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>