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Add Pioneering Biodiesel Producer Argent Energy Sold

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Demetra Marquardt 2025-01-12 06:36:12 +00:00
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Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md 100644

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<br>Pioneering [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) producer Argent Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has actually been bought by a green investment firm.<br>
<br>Argent, based near Motherwell, was offered to a [subsidiary](https://pitchbook.com/profiles/company/51278-86) of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for an sum.<br>
<br>Argent makes [green roadway](https://www.bloomberg.com/profile/company/MNELF:US) fuel by [recycling wastes](https://www.pinterest.com.au/missionnewenergy/) and [residues](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) such as [utilized cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil and tallow from the [meat market](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
<br>The firm will stay in private ownership and will continue to run [separately](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053).<br>
<br>Its senior management, consisting of chairman Andy Hunter, managing director [Jim Walker](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and monetary director Jim Boyd are to remain with the [business](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
<br>Souter Investments, the private investment company of [transportation magnate](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Sir Brian Souter, confirmed it had actually [offered](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the investment by [John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [underlined Argent's](https://www.crunchbase.com/organization/mission-newenergy) strong market position, including there was now an [opportunity](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) "to take Argent's skills additional afield".<br>
<br>[Barnaby](https://stocktwits.com/symbol/MNEL) Swire, of John Swire, stated his business was committed to "checking out and buying ingenious and practical green industries".<br>
<br>He added: "We are thrilled to be obtaining Argent Energy, a company which we think can grow and succeed not just within the UK however also overseas, in specific in Asian markets with which Swire Group business recognize.<br>
<br>"[John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) & Sons Ltd sees in [Argent Energy's](https://pitchbook.com/profiles/company/51278-86) employees a mix of characteristics and worths that work with our own, and anticipate working with them to increase Argent Energy's future potential."<br>
<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 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>