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Add Pioneering Biodiesel Producer Argent Energy Sold

Mark Kennemer 2025-01-12 10:15:04 +08:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md Normal file

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<br>Pioneering [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [manufacturer Argent](https://stocktwits.com/symbol/MNEL) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a pioneer of massive industrial production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) in the UK, has actually been bought by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) of London-based John Swire & Sons for a concealed amount.<br>
<br>Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the [meat industry](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>The firm will stay in private ownership and will [continue](https://stocktwits.com/symbol/MNEL) to run [individually](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>Its senior management, including chairman Andy Hunter, managing director [Jim Walker](https://stocktwits.com/symbol/MNEL) and [financial director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) are to stay with the [business](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
<br>Souter Investments, the private financial investment company of transport [tycoon Sir](https://www.crunchbase.com/organization/mission-newenergy) Brian Souter, confirmed it had offered its 37% stake in Argent.<br>
<br>['Future](https://www.crunchbase.com/organization/mission-newenergy) potential'<br>
<br>Mr Walker said the [financial investment](https://www.bloomberg.com/profile/company/MNELF:US) by John Swire [highlighted](https://stocktwits.com/symbol/MNEL) [Argent's strong](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) market position, adding there was now a chance "to take Argent's skills further afield".<br>
<br>Barnaby Swire, of John Swire, stated his [company](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) was [committed](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to "exploring and investing in ingenious and viable green markets".<br>
<br>He included: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and prosper not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group business recognize.<br>
<br>"[John Swire](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) & Sons Ltd sees in [Argent Energy's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) employees a mix of characteristics and values that work with our own, and anticipate working with them to maximise Argent Energy's [future capacity](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html)."<br>
<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management in addition to Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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>