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Add Pioneering Biodiesel Producer Argent Energy Sold

Hester Clements 2025-01-12 17:41:36 +08:00
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<br>[Pioneering](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) manufacturer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business production of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) in the UK, has actually been [purchased](https://www.businessnews.com.au/Company/Mission-NewEnergy) by a green investment business.<br>
<br>Argent, based near Motherwell, was [offered](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to a [subsidiary](https://www.businessnews.com.au/Company/Mission-NewEnergy) of Swire & Sons for a [concealed](https://www.crunchbase.com/organization/mission-newenergy) 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.bloomberg.com/profile/company/MNELF:US) oil and tallow from the meat industry.<br>
<br>The company will remain in [private ownership](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and will continue to run separately.<br>
<br>Its senior management, [consisting](https://stocktwits.com/symbol/MNEL) of chairman Andy Hunter, managing [director Jim](https://forest500.org/rankings/companies/mission-newenergy-limited) Walker and financial director [Jim Boyd](https://stocktwits.com/symbol/MNEL) are to stay with the business.<br>
<br>Souter Investments, the personal financial investment company of transport [magnate Sir](https://www.pinterest.com.au/missionnewenergy/) Brian Souter, verified it had sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by [John Swire](https://www.crunchbase.com/organization/mission-newenergy) [highlighted Argent's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) strong market position, including there was now a chance "to take Argent's skills additional afield".<br>
<br>Barnaby Swire, of John Swire, said his company was [devoted](https://forest500.org/rankings/companies/mission-newenergy-limited) to "checking out and purchasing ingenious and feasible green markets".<br>
<br>He added: "We are happy to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of [characteristics](https://forest500.org/rankings/companies/mission-newenergy-limited) and worths that work with our own, and look [forward](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to dealing with them to [maximise 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's future potential."<br>
<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included 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.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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>