Add Pioneering Biodiesel Producer Argent Energy Sold

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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+<br>[Pioneering biodiesel](https://www.pinterest.com.au/missionnewenergy/) manufacturer  offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of large-scale industrial [production](https://pitchbook.com/profiles/company/51278-86) of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has been purchased by a green financial [investment business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<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](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and [residues](https://www.zoominfo.com/c/mission-newenergy/346542889) such as [utilized cooking](https://www.google.com/search?kgmid=/m/0cqd_rb) oil and tallow from the meat market.<br>
+<br>The company will stay in personal ownership and will continue to run separately.<br>
+<br>Its senior management, consisting of chairman Andy Hunter, [handling director](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [Jim Walker](https://pitchbook.com/profiles/company/51278-86) and financial director Jim Boyd are to stay with the business.<br>
+<br>Souter Investments, the private investment firm of transport tycoon Sir Brian Souter, [confirmed](https://stocktwits.com/symbol/MNEL) it had actually sold its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker stated the [investment](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) by [John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) highlighted [Argent's strong](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) market position, including there was now an opportunity "to take Argent's skills more afield".<br>
+<br>Barnaby Swire, of John Swire, said his [company](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) was devoted to "checking out and investing in innovative and feasible green markets".<br>
+<br>He added: "We are thrilled to be obtaining Argent Energy, a business which we think can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
+<br>"[John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) staff members a mix of [characteristics](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and values that are [suitable](https://pitchbook.com/profiles/company/51278-86) with our own, and anticipate working with them to increase Argent [Energy's future](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) capacity."<br>
+<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of biodiesel 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>