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Add Pioneering Biodiesel Producer Argent Energy Sold

Riley Carswell 2025-01-12 11:13:45 +08:00
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<br>Pioneering [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [producer 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 offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive commercial [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 been purchased by a green financial investment business.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](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) Swire & Sons for a concealed amount.<br>
<br>Argent makes green road fuel by recycling wastes and [residues](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) such as utilized cooking oil and tallow from the [meat industry](https://www.bloomberg.com/profile/company/MNELF:US).<br>
<br>The firm will stay in private ownership and will [continue](https://stocktwits.com/symbol/MNEL) to run [individually](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
<br>Its senior management, [consisting](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of chairman Andy Hunter, managing director Jim Walker and [financial director](https://www.bloomberg.com/profile/company/MNELF:US) [Jim Boyd](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) are to stay with the .<br>
<br>Souter Investments, the personal investment firm of [transport magnate](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Sir Brian Souter, [validated](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) it had actually sold its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the financial investment by John Swire underlined Argent's strong market position, [including](https://www.businessnews.com.au/Company/Mission-NewEnergy) there was now an [opportunity](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) "to take Argent's abilities further afield".<br>
<br>[Barnaby](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Swire, of John Swire, said his company was dedicated to "exploring and investing in innovative and practical green industries".<br>
<br>He added: "We are happy to be obtaining Argent Energy, a business which we believe can grow and flourish not only within the UK but also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://forest500.org/rankings/companies/mission-newenergy-limited) & Sons Ltd sees in Argent Energy's staff members a mix of [qualities](https://www.pinterest.com.au/missionnewenergy/) and worths that work with our own, and look forward to dealing with them to [maximise Argent](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Energy's future potential."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.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>