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Add Pioneering Biodiesel Producer Argent Energy Sold

Ashly Forand 2025-01-11 12:56:47 +00:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>[Pioneering biodiesel](https://stocktwits.com/symbol/MNEL) Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [large-scale industrial](https://www.google.com/search?kgmid=/m/0cqd_rb) [production](https://forest500.org/rankings/companies/mission-newenergy-limited) of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) in the UK, has actually been [purchased](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) by a [green financial](https://stocktwits.com/symbol/MNEL) [investment business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a [concealed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) sum.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as used [cooking oil](https://www.bloomberg.com/profile/company/MNELF:US) and tallow from the meat market.<br>
<br>The company will remain in private ownership and will continue to run individually.<br>
<br>Its senior management, [including chairman](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Andy Hunter, handling director Jim Walker and [monetary director](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Jim Boyd are to stay with the business.<br>
<br>Souter Investments, the [private investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) firm of transport magnate Sir Brian Souter, validated it had actually sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by John Swire highlighted [Argent's strong](https://stocktwits.com/symbol/MNEL) market position, [including](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) there was now an opportunity "to take Argent's skills further afield".<br>
<br>Barnaby Swire, of John Swire, stated his [business](https://stocktwits.com/symbol/MNEL) was [dedicated](https://www.bloomberg.com/profile/company/MNELF:US) to "exploring and investing in innovative and viable green markets".<br>
<br>He added: "We are delighted to be obtaining Argent Energy, a business which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
<br>"[John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [workers](https://www.pinterest.com.au/missionnewenergy/) a mix of [attributes](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and values that are suitable with our own, and look forward to working with them to increase Argent Energy's future potential."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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>