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Add Pioneering Biodiesel Producer Argent Energy Sold

Rosetta Osburn 2025-01-11 21:12:35 +08:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>Pioneering [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [producer Argent](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) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [large-scale commercial](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [production](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been bought by a [green financial](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) [investment business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for a concealed amount.<br>
<br>Argent makes [green road](https://www.pinterest.com.au/missionnewenergy/) fuel by recycling wastes and residues such as [utilized cooking](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) oil and tallow from the [meat market](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
<br>The firm will remain in personal ownership and will continue to run independently.<br>
<br>Its senior management, [including chairman](https://www.google.com/search?kgmid=/m/0cqd_rb) Andy Hunter, handling director [Jim Walker](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) and [monetary](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) director [Jim Boyd](https://www.zoominfo.com/c/mission-newenergy/346542889) are to remain with the business.<br>
<br>Souter Investments, the [investment business](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [transport tycoon](https://stocktwits.com/symbol/MNEL) Sir Brian Souter, validated it had [offered](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the financial [investment](https://pitchbook.com/profiles/company/51278-86) by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's skills further afield".<br>
<br>Barnaby Swire, of John Swire, stated his business was devoted to "checking out and buying ingenious and viable green industries".<br>
<br>He included: "We are pleased to be obtaining Argent Energy, a company which we believe can grow and prosper not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of qualities and values that work with our own, and eagerly anticipate working with them to maximise Argent Energy's future capacity."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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>