Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>[Pioneering biodiesel](https://pitchbook.com/profiles/company/51278-86) [manufacturer](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of massive business production of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has been bought by a [green investment](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [business](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
+<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire & Sons for a concealed sum.<br>
+<br>Argent makes green roadway fuel by [recycling wastes](https://forest500.org/rankings/companies/mission-newenergy-limited) and [residues](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) such as used [cooking oil](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and tallow from the meat market.<br>
+<br>The firm will remain in private ownership and will continue to run individually.<br>
+<br>Its senior management, consisting of chairman Andy Hunter, handling [director Jim](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Walker and financial director Jim Boyd are to stay with the business.<br>
+<br>Souter Investments, the [personal investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) business of [transportation magnate](https://forest500.org/rankings/companies/mission-newenergy-limited) Sir Brian Souter, [validated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) it had sold its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker said the investment by John Swire underlined [Argent's strong](https://pitchbook.com/profiles/company/51278-86) market position, [including](https://www.crunchbase.com/organization/mission-newenergy) there was now an [opportunity](https://www.crunchbase.com/organization/mission-newenergy) "to take Argent's skills additional afield".<br>
+<br>Barnaby Swire, of John Swire, said his business was [dedicated](https://forest500.org/rankings/companies/mission-newenergy-limited) to "exploring and purchasing innovative and practical green industries".<br>
+<br>He added: "We are delighted to be acquiring Argent Energy, a company which we believe can grow and flourish not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group business recognize.<br>
+<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) staff members a mix of attributes and values that are compatible with our own, and eagerly anticipate dealing with them to [increase Argent](https://forest500.org/rankings/companies/mission-newenergy-limited)  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 approximately 50 million litres of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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>