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Add Pioneering Biodiesel Producer Argent Energy Sold

Tera Bagley 2025-01-12 11:09:56 +00:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>[Pioneering](https://www.google.com/search?kgmid=/m/0cqd_rb) [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) [manufacturer Argent](https://stocktwits.com/symbol/MNEL) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of [large-scale commercial](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [production](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the UK, has been bought by a business.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.crunchbase.com/organization/mission-newenergy) of London-based John Swire & Sons for a [concealed](https://forest500.org/rankings/companies/mission-newenergy-limited) 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 firm will stay in private ownership and will continue to run [individually](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>Its senior management, including chairman Andy Hunter, handling director Jim Walker and financial [director Jim](https://www.businessnews.com.au/Company/Mission-NewEnergy) Boyd are to stay with the business.<br>
<br>Souter Investments, the personal investment firm of [transportation magnate](https://www.crunchbase.com/organization/mission-newenergy) Sir Brian Souter, verified it had actually [offered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) its 37% stake in Argent.<br>
<br>['Future](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) potential'<br>
<br>Mr Walker said the financial investment by John [Swire highlighted](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Argent's strong market position, including there was now a chance "to take Argent's abilities more afield".<br>
<br>[Barnaby](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire, of John Swire, said his business was committed to "checking out and purchasing innovative and viable green industries".<br>
<br>He added: "We are thrilled to be acquiring Argent Energy, a company which we think can grow and flourish not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
<br>"[John Swire](https://stocktwits.com/symbol/MNEL) & Sons Ltd sees in Argent Energy's [workers](https://forest500.org/rankings/companies/mission-newenergy-limited) a mix of [characteristics](https://www.crunchbase.com/organization/mission-newenergy) and worths that are compatible with our own, and anticipate working with them to [maximise Argent](https://www.pinterest.com.au/missionnewenergy/) Energy's [future capacity](https://pitchbook.com/profiles/company/51278-86)."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) 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>