Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) manufacturer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of massive business [production](https://stocktwits.com/symbol/MNEL) of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has been bought by a green investment business.<br>
+<br>Argent, based near Motherwell, was [offered](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://pitchbook.com/profiles/company/51278-86) amount.<br>
+<br>Argent makes [green road](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) fuel by [recycling wastes](https://www.crunchbase.com/organization/mission-newenergy) and residues such as utilized cooking oil and tallow from the meat industry.<br>
+<br>The [company](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) will remain in private ownership and will [continue](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to run independently.<br>
+<br>Its senior management, [including chairman](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Andy Hunter, handling director Jim Walker and [financial director](https://forest500.org/rankings/companies/mission-newenergy-limited) Jim Boyd are to remain with the company.<br>
+<br>Souter Investments, the  firm of transport tycoon Sir Brian Souter, [confirmed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) it had offered its 37% stake in Argent.<br>
+<br>['Future](https://pitchbook.com/profiles/company/51278-86) capacity'<br>
+<br>Mr Walker stated the [financial investment](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) by John Swire [underlined Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) strong market position, including there was now an opportunity "to take Argent's skills more afield".<br>
+<br>Barnaby Swire, of John Swire, stated his company was devoted to "exploring and investing in ingenious and viable green markets".<br>
+<br>He included: "We are pleased to be acquiring Argent Energy, a business which our company believe can grow and succeed not only within the UK but also 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.energy-xprt.com/companies/mission-newenergy-limited-36048) workers a mix of characteristics and worths that work with our own, and look [forward](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to [dealing](https://pitchbook.com/profiles/company/51278-86) with them to increase Argent Energy's [future potential](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)."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium which included 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](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) 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>