Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of [massive business](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [production](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) 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.businessnews.com.au/Company/Mission-NewEnergy) investment business.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
+<br>Argent makes green roadway fuel by  and [residues](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) such as used [cooking oil](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and tallow from the [meat market](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>The firm will remain in [personal ownership](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and will [continue](https://www.pinterest.com.au/missionnewenergy/) to run [individually](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the business.<br>
+<br>Souter Investments, the personal investment company of [transportation magnate](https://forest500.org/rankings/companies/mission-newenergy-limited) [Sir Brian](https://www.pinterest.com.au/missionnewenergy/) Souter, [confirmed](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) it had sold its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker stated the [financial](https://www.zoominfo.com/c/mission-newenergy/346542889) [investment](https://www.bloomberg.com/profile/company/MNELF:US) by John Swire underlined Argent's strong market position, adding there was now a chance "to take Argent's skills more afield".<br>
+<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, stated his business was dedicated to "checking out and investing in innovative and feasible green markets".<br>
+<br>He included: "We are happy to be obtaining Argent Energy, a business which we believe can grow and flourish not just within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's employees a mix of [qualities](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and worths that work with our own, and look forward to [dealing](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) with them to [maximise Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Energy's future potential."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) 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>