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Add Pioneering Biodiesel Producer Argent Energy Sold

Franziska Weiland 2025-01-13 18:00:49 +08:00
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<br>[Pioneering biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale industrial [production](https://www.google.com/search?kgmid=/m/0cqd_rb) of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has actually been [purchased](https://pitchbook.com/profiles/company/51278-86) by a [green financial](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [investment company](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green roadway fuel by [recycling wastes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and residues such as used cooking oil and tallow from the meat market.<br>
<br>The firm will remain in private ownership and will [continue](https://pitchbook.com/profiles/company/51278-86) to run independently.<br>
<br>Its senior management, [including chairman](https://www.pinterest.com.au/missionnewenergy/) Andy Hunter, managing director [Jim Walker](https://www.bloomberg.com/profile/company/MNELF:US) and [financial director](https://www.google.com/search?kgmid=/m/0cqd_rb) Jim Boyd are to remain with the [business](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>Souter Investments, the [private investment](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) firm of [transportation tycoon](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Sir Brian](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Souter, [confirmed](https://www.google.com/search?kgmid=/m/0cqd_rb) it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the financial investment by John Swire [underlined Argent's](https://www.businessnews.com.au/Company/Mission-NewEnergy) strong market position, adding there was now an opportunity "to take Argent's skills more afield".<br>
<br>Barnaby Swire, of John Swire, said his business was devoted to "checking out and investing in ingenious and practical green markets".<br>
<br>He added: "We are delighted to be acquiring Argent Energy, a company which we think can grow and succeed not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
<br>"[John Swire](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) & Sons Ltd sees in [Argent Energy's](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) employees a mix of qualities and worths that work with our own, and [anticipate dealing](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) 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 consisted of senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/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>