Add Pioneering Biodiesel Producer Argent Energy Sold
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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) producer Argent Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a leader of large-scale commercial [production](https://www.crunchbase.com/organization/mission-newenergy) of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in the UK, has actually been [purchased](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) by a [green investment](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) firm.<br>
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<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for an undisclosed sum.<br>
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<br>Argent makes [green roadway](https://www.crunchbase.com/organization/mission-newenergy) fuel by recycling wastes and [residues](https://www.pinterest.com.au/missionnewenergy/) such as [utilized cooking](https://www.crunchbase.com/organization/mission-newenergy) oil and tallow from the meat industry.<br>
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<br>The company will remain in [private ownership](https://forest500.org/rankings/companies/mission-newenergy-limited) and will continue to run individually.<br>
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<br>Its senior management, [consisting](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [chairman Andy](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Hunter, [handling director](https://www.zoominfo.com/c/mission-newenergy/346542889) Jim Walker and financial director Jim Boyd are to remain with the business.<br>
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<br>Souter Investments, the private investment firm of [transportation magnate](https://pitchbook.com/profiles/company/51278-86) Sir Brian Souter, verified it had sold its 37% stake in Argent.<br>
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<br>'Future capacity'<br>
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<br>Mr [Walker stated](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) the investment by [John Swire](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [highlighted](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Argent's strong](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
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<br>Barnaby Swire, of John Swire, said his business was devoted to "exploring and purchasing innovative and viable green industries".<br>
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<br>He added: "We are thrilled to be getting Argent Energy, a company which our company believe can grow and flourish not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
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<br>"John Swire & Sons Ltd sees in Argent Energy's employees a mix of [attributes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and worths that are compatible with our own, and [eagerly anticipate](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) dealing with them to increase Argent future potential."<br>
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<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) a year.<br>
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<br>Cooking oil to run buses in trial<br>
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<br>4 November 2011<br>
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<br>Argent Energy<br>
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<br>Souter Investments<br>
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