Update 'Pioneering Biodiesel Producer Argent Energy Sold'

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

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+<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) producer Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of large-scale commercial [production](https://pitchbook.com/profiles/company/51278-86) of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has been purchased by a [green investment](https://www.businessnews.com.au/Company/Mission-NewEnergy) firm.<br>
+<br>Argent, based near Motherwell, was sold to a  of [London-based John](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Swire & Sons for an [undisclosed](https://www.google.com/search?kgmid=/m/0cqd_rb) sum.<br>
+<br>Argent makes green roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.<br>
+<br>The firm will stay in private ownership and will [continue](https://www.google.com/search?kgmid=/m/0cqd_rb) to run [separately](https://www.bloomberg.com/profile/company/MNELF:US).<br>
+<br>Its senior management, [consisting](https://www.zoominfo.com/c/mission-newenergy/346542889) of chairman Andy Hunter, [managing](https://www.google.com/search?kgmid=/m/0cqd_rb) director Jim Walker and monetary director Jim Boyd are to remain with the company.<br>
+<br>Souter Investments, the [private financial](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) investment company of transportation tycoon Sir Brian Souter, [verified](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) it had actually offered its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker said the investment by [John Swire](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [highlighted Argent's](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) strong market position, adding there was now a chance "to take Argent's skills further afield".<br>
+<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire, of John Swire, said his business was devoted to "checking out and investing in ingenious and feasible green industries".<br>
+<br>He included: "We are pleased to be getting Argent Energy, a company which we believe can grow and prosper not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
+<br>"[John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) & Sons Ltd sees in [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) staff members a mix of [characteristics](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and worths that are suitable with our own, and look [forward](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to working with them to [maximise Argent](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Energy's future capacity."<br>
+<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management along with 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.energy-xprt.com/companies/mission-newenergy-limited-36048) 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>