Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.pinterest.com.au/missionnewenergy/) producer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://forest500.org/rankings/companies/mission-newenergy-limited) of [massive commercial](https://www.crunchbase.com/organization/mission-newenergy) production of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has actually been purchased by a [green financial](https://www.crunchbase.com/organization/mission-newenergy) .<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [London-based John](https://www.pinterest.com.au/missionnewenergy/) Swire & Sons for an undisclosed 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](https://www.bloomberg.com/profile/company/MNELF:US) and will [continue](https://www.zoominfo.com/c/mission-newenergy/346542889) to run [separately](https://stocktwits.com/symbol/MNEL).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, managing [director Jim](https://www.zoominfo.com/c/mission-newenergy/346542889) Walker and [monetary director](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Jim Boyd are to stay with the [company](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
+<br>Souter Investments, the private investment firm of [transportation tycoon](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Sir Brian Souter, [verified](https://stocktwits.com/symbol/MNEL) it had actually sold its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr [Walker stated](https://www.bloomberg.com/profile/company/MNELF:US) the [investment](https://www.pinterest.com.au/missionnewenergy/) by John Swire highlighted Argent's strong market position, [including](https://pitchbook.com/profiles/company/51278-86) there was now a chance "to take Argent's skills additional afield".<br>
+<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire, of John Swire, said his company was committed to "checking out and buying innovative and practical green markets".<br>
+<br>He added: "We are delighted to be getting Argent Energy, a business which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
+<br>"John Swire & 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](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Energy's future capacity."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) 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>