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Add Pioneering Biodiesel Producer Argent Energy Sold

Veronica Borelli 2025-01-11 18:32:49 +01:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>Pioneering [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) [producer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been [purchased](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) by a green investment [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed sum.<br>
<br>Argent makes [green roadway](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) fuel by [recycling wastes](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and residues such as utilized cooking oil and tallow from the [meat industry](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>The company will remain in and will [continue](https://www.bloomberg.com/profile/company/MNELF:US) to run individually.<br>
<br>Its senior management, [consisting](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) of chairman Andy Hunter, [managing](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [director Jim](https://www.zoominfo.com/c/mission-newenergy/346542889) Walker and financial director Jim Boyd are to stay with the [company](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br>
<br>Souter Investments, the personal investment firm of [transportation tycoon](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Sir Brian Souter, confirmed it had offered its 37% stake in Argent.<br>
<br>['Future](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) capacity'<br>
<br>Mr Walker stated the investment by [John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [underlined](https://www.google.com/search?kgmid=/m/0cqd_rb) [Argent's strong](https://www.crunchbase.com/organization/mission-newenergy) market position, adding there was now an opportunity "to take Argent's abilities additional afield".<br>
<br>Barnaby Swire, of John Swire, said his company was [committed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to "checking out and buying ingenious and viable green markets".<br>
<br>He included: "We are delighted to be acquiring Argent Energy, a business which our company believe can grow and succeed not only within the UK however also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and values that work with our own, and look forward to working with them to maximise Argent Energy's future [potential](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608)."<br>
<br>Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of 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>