Add 'Pioneering Biodiesel Producer Argent Energy Sold'

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

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+<br>Pioneering [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) producer Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of [large-scale commercial](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) production of [biodiesel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) in the UK, has been bought by a [green investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) firm.<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.bloomberg.com/profile/company/MNELF:US) Swire & Sons for an undisclosed sum.<br>
+<br>Argent makes [green roadway](https://forest500.org/rankings/companies/mission-newenergy-limited) fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.<br>
+<br>The firm will stay in private ownership and will continue to run [independently](https://stocktwits.com/symbol/MNEL).<br>
+<br>Its senior management, including chairman Andy Hunter, handling director [Jim Walker](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and [monetary director](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Jim Boyd are to remain with the [company](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
+<br>Souter Investments, the private investment firm of [transport magnate](https://www.pinterest.com.au/missionnewenergy/) Sir Brian Souter, [validated](https://pitchbook.com/profiles/company/51278-86) 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.pinterest.com.au/missionnewenergy/) underlined Argent's strong market position, including there was now an opportunity "to take Argent's skills further afield".<br>
+<br>Barnaby Swire, of John Swire, stated his company was [committed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to "exploring and buying ingenious and practical green markets".<br>
+<br>He added: "We are delighted to be acquiring Argent Energy, a business which we think can grow and flourish not just within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
+<br>"[John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) & Sons Ltd sees in [Argent Energy's](https://forest500.org/rankings/companies/mission-newenergy-limited) staff members a mix of [attributes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and values that are  with our own, and eagerly anticipate [dealing](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) with them to [increase Argent](https://www.pinterest.com.au/missionnewenergy/) [Energy's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) future potential."<br>
+<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which included 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.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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>