Update 'Pioneering Biodiesel Producer Argent Energy Sold'

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

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+<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of large-scale commercial production of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has been bought by a green financial investment business.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for a concealed amount.<br>
+<br>Argent makes green road fuel by recycling wastes and [residues](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) such as utilized cooking oil and tallow from the [meat market](https://www.google.com/search?kgmid=/m/0cqd_rb).<br>
+<br>The company will remain in [personal ownership](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and will continue to run individually.<br>
+<br>Its senior management, consisting of [chairman Andy](https://www.crunchbase.com/organization/mission-newenergy) Hunter, [handling director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Jim Walker](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and [financial director](https://www.businessnews.com.au/Company/Mission-NewEnergy) [Jim Boyd](https://forest500.org/rankings/companies/mission-newenergy-limited) are to stay with the [business](https://www.bloomberg.com/profile/company/MNELF:US).<br>
+<br>Souter Investments, the [personal investment](https://www.pinterest.com.au/missionnewenergy/) firm of transportation tycoon Sir Brian Souter, [verified](https://www.bloomberg.com/profile/company/MNELF:US) it had sold its 37% stake in Argent.<br>
+<br>['Future](https://www.zoominfo.com/c/mission-newenergy/346542889) capacity'<br>
+<br>Mr Walker stated the investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's skills more afield".<br>
+<br>Barnaby Swire, of John Swire, said his business was [devoted](https://www.bloomberg.com/profile/company/MNELF:US) to "exploring and investing in ingenious and viable green industries".<br>
+<br>He included: "We are happy to be acquiring Argent Energy, a company which our company believe can grow and flourish not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
+<br>"[John Swire](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) & Sons Ltd sees in [Argent Energy's](https://www.crunchbase.com/organization/mission-newenergy)  a mix of [attributes](https://www.bloomberg.com/profile/company/MNELF:US) and values that work with our own, and look [forward](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to dealing with them to increase Argent Energy's future capacity."<br>
+<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management together with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 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>