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Add Pioneering Biodiesel Producer Argent Energy Sold

Savannah Murry 2025-01-18 18:35:06 +08:00
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<br>[Pioneering biodiesel](https://www.bloomberg.com/profile/company/MNELF:US) [producer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of large-scale industrial production 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 investment business.<br>
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://stocktwits.com/symbol/MNEL) of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire & Sons for an undisclosed amount.<br>
<br>Argent makes green road fuel by [recycling wastes](https://www.crunchbase.com/organization/mission-newenergy) and [residues](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) such as [utilized cooking](https://www.crunchbase.com/organization/mission-newenergy) oil and tallow from the meat market.<br>
<br>The company will remain in and will continue to run independently.<br>
<br>Its senior management, [consisting](https://pitchbook.com/profiles/company/51278-86) of [chairman Andy](https://www.pinterest.com.au/missionnewenergy/) Hunter, [managing director](https://www.zoominfo.com/c/mission-newenergy/346542889) Jim Walker and financial director Jim Boyd are to stay with the [company](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>Souter Investments, the private investment firm of transport tycoon Sir Brian Souter, [validated](https://www.google.com/search?kgmid=/m/0cqd_rb) it had actually sold its 37% stake in Argent.<br>
<br>['Future](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) capacity'<br>
<br>Mr Walker said the financial investment by John Swire [underlined](https://www.pinterest.com.au/missionnewenergy/) Argent's strong market position, including there was now an opportunity "to take Argent's skills more afield".<br>
<br>[Barnaby](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire, of John Swire, stated his business was committed to "checking out and purchasing innovative and viable green industries".<br>
<br>He included: "We are delighted to be getting Argent Energy, a company which our company believe can grow and prosper not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a mix of [qualities](https://www.google.com/search?kgmid=/m/0cqd_rb) and worths that are compatible with our own, and [eagerly anticipate](https://www.crunchbase.com/organization/mission-newenergy) working with them to increase Argent Energy's [future capacity](https://pitchbook.com/profiles/company/51278-86)."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium that 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.crunchbase.com/organization/mission-newenergy) 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>