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Add Pioneering Biodiesel Producer Argent Energy Sold

Consuelo Selwyn 2025-01-09 00:31:32 +00:00
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<br>Pioneering [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) manufacturer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of [massive industrial](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) production of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has actually been purchased by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.<br>
<br>The firm will remain in personal ownership and will continue to run separately.<br>
<br>Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the personal investment firm of transport magnate Sir Brian Souter, validated it had actually [offered](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker stated the investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
<br>Barnaby Swire, of John Swire, said his was [committed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to "checking out and buying innovative and viable green industries".<br>
<br>He added: "We are pleased to be getting Argent Energy, a business which our company believe can grow and flourish not just within the UK but also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
<br>"[John Swire](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) & Sons Ltd sees in Argent Energy's workers a mix of qualities and worths that work with our own, and look forward to working with them to maximise Argent Energy's future potential."<br>
<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.missionnewenergy.com/) 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>