Add Pioneering Biodiesel Producer Argent Energy Sold

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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+<br>Pioneering [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) [manufacturer Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of large-scale industrial [production](https://forest500.org/rankings/companies/mission-newenergy-limited) of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the UK, has been purchased by a [green investment](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) firm.<br>
+<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.google.com/search?kgmid=/m/0cqd_rb) of [London-based John](https://www.pinterest.com.au/missionnewenergy/) Swire & Sons for an [undisclosed](https://www.bloomberg.com/profile/company/MNELF:US) sum.<br>
+<br>Argent makes green road fuel by [recycling wastes](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and [residues](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) such as used cooking oil and tallow from the meat market.<br>
+<br>The firm will remain in personal ownership and will continue to run [independently](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, [managing](https://www.bloomberg.com/profile/company/MNELF:US) director Jim Walker and [financial director](https://www.pinterest.com.au/missionnewenergy/) Jim Boyd are to remain with the business.<br>
+<br>Souter Investments, the private financial investment business of [transportation tycoon](https://stocktwits.com/symbol/MNEL) [Sir Brian](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Souter, [validated](https://forest500.org/rankings/companies/mission-newenergy-limited) it had actually sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker stated the [investment](https://pitchbook.com/profiles/company/51278-86) by [John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [highlighted Argent's](https://www.bloomberg.com/profile/company/MNELF:US) strong market position, adding there was now an opportunity "to take Argent's abilities further afield".<br>
+<br> Swire, of John Swire, said his company was dedicated to "checking out and buying innovative and feasible green industries".<br>
+<br>He added: "We are thrilled to be getting Argent Energy, a company which our company believe can grow and prosper not only within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's employees a mix of [qualities](https://www.crunchbase.com/organization/mission-newenergy) and worths that are compatible with our own, and eagerly anticipate working with them to increase Argent Energy's future capacity."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](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) 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>