Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) manufacturer [Argent Energy](https://stocktwits.com/symbol/MNEL) offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of [large-scale business](https://www.businessnews.com.au/Company/Mission-NewEnergy) production of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) in the UK, has been purchased by a [green investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) firm.<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for an [undisclosed](https://stocktwits.com/symbol/MNEL) sum.<br>
+<br>Argent makes [green roadway](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) fuel by [recycling wastes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and [residues](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) such as used cooking oil and tallow from the [meat market](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
+<br>The company will remain in personal ownership and will [continue](https://www.pinterest.com.au/missionnewenergy/) to run separately.<br>
+<br>Its senior management, including chairman Andy Hunter, managing director [Jim Walker](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and [financial director](https://www.crunchbase.com/organization/mission-newenergy) [Jim Boyd](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) are to stay with the [business](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>Souter Investments, the [personal investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) firm of [transportation tycoon](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Sir Brian Souter, confirmed it had offered its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker said the financial investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities more afield".<br>
+<br> Swire, of John Swire, said his business was committed to "exploring and investing in innovative and viable green markets".<br>
+<br>He included: "We are happy to be obtaining 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 companies are familiar.<br>
+<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) staff members a mix of [characteristics](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and values that are compatible with our own, and eagerly anticipate working with them to increase Argent Energy's future capacity."<br>
+<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.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>