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+<br>Pioneering biodiesel [producer Argent](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of massive business [production](https://pitchbook.com/profiles/company/51278-86) of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has been [purchased](https://www.businessnews.com.au/Company/Mission-NewEnergy) by a green financial investment company.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire & Sons for an [undisclosed](https://www.bloomberg.com/profile/company/MNELF:US) sum.<br>
+<br>Argent makes [green road](https://www.businessnews.com.au/Company/Mission-NewEnergy) fuel by recycling wastes and [residues](https://www.bloomberg.com/profile/company/MNELF:US) such as [utilized](https://www.crunchbase.com/organization/mission-newenergy) [cooking oil](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and tallow from the meat market.<br>
+<br>The firm will stay in private ownership and will continue to run individually.<br>
+<br>Its senior management, including chairman Andy Hunter, [managing director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Jim Walker and [monetary](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd)  Boyd are to remain with the company.<br>
+<br>Souter Investments, the [personal investment](https://www.pinterest.com.au/missionnewenergy/) firm of [transportation tycoon](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Sir Brian Souter, [validated](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) it had actually offered its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker stated the investment by [John Swire](https://stocktwits.com/symbol/MNEL) underlined Argent's strong market position, [including](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) there was now an opportunity "to take Argent's abilities more afield".<br>
+<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, stated his business was committed to "exploring and purchasing innovative and feasible green industries".<br>
+<br>He added: "We are happy to be obtaining Argent Energy, a company which our company believe can grow and succeed not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of [attributes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and values that work with our own, and [eagerly anticipate](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) working with them to maximise Argent Energy's future capacity."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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>
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