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Add Pioneering Biodiesel Producer Argent Energy Sold

Debora Fyans 2025-01-12 08:03:20 +00:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive commercial [production](https://www.zoominfo.com/c/mission-newenergy/346542889) of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) in the UK, has actually been [purchased](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) by a [green investment](https://pitchbook.com/profiles/company/51278-86) firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.crunchbase.com/organization/mission-newenergy) Swire & Sons for an [undisclosed](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) amount.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.<br>
<br>The company will remain in personal ownership and will continue to run independently.<br>
<br>Its senior management, [including chairman](https://pitchbook.com/profiles/company/51278-86) Andy Hunter, [managing director](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jim Walker and financial director Jim Boyd are to remain with the [company](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
<br>Souter Investments, the private investment firm of transportation tycoon Sir Brian Souter, [confirmed](https://pitchbook.com/profiles/company/51278-86) it had actually [offered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) its 37% stake in Argent.<br>
<br>['Future](https://www.businessnews.com.au/Company/Mission-NewEnergy) capacity'<br>
<br>Mr Walker said the investment by John Swire underlined Argent's strong market position, including there was now an [opportunity](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) "to take Argent's skills more afield".<br>
<br>Barnaby Swire, of John Swire, said his [business](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) was devoted to "checking out and buying ingenious and feasible green industries".<br>
<br>He added: "We are happy to be getting Argent Energy, a company which we think can grow and flourish not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://www.crunchbase.com/organization/mission-newenergy) & 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) staff members a mix of [characteristics](https://www.zoominfo.com/c/mission-newenergy/346542889) and worths that are compatible with our own, and eagerly anticipate dealing with them to [increase Argent](https://www.pinterest.com.au/missionnewenergy/) [Energy's future](https://stocktwits.com/symbol/MNEL) capacity."<br>
<br>Argent was developed in 2001. In 2009 it was bought by a consortium that 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.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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>