Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>Pioneering [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [producer](https://www.crunchbase.com/organization/mission-newenergy) [Argent Energy](https://www.pinterest.com.au/missionnewenergy/) sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of [large-scale industrial](https://pitchbook.com/profiles/company/51278-86) [production](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) in the UK, has actually been bought by a [green investment](https://stocktwits.com/symbol/MNEL) firm.<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.pinterest.com.au/missionnewenergy/) Swire & Sons for an [undisclosed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) amount.<br>
+<br>Argent makes green roadway fuel by [recycling wastes](https://forest500.org/rankings/companies/mission-newenergy-limited) and [residues](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) such as used [cooking oil](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and tallow from the meat industry.<br>
+<br>The company will remain in private ownership and will continue to run separately.<br>
+<br>Its senior management, [consisting](https://www.pinterest.com.au/missionnewenergy/) of chairman Andy Hunter, handling director [Jim Walker](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and financial director Jim Boyd are to remain with the [company](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
+<br>Souter Investments, the [private investment](https://www.bloomberg.com/profile/company/MNELF:US) firm of transport tycoon Sir Brian Souter, [validated](https://stocktwits.com/symbol/MNEL) it had offered its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker stated the investment by [John Swire](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) underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities more afield".<br>
+<br>Barnaby Swire, of John Swire, said his business was committed to "exploring and purchasing innovative and feasible green industries".<br>
+<br>He added: "We are pleased to be obtaining Argent Energy, a company which we think can grow and prosper not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
+<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) staff members a mix of characteristics and values that are compatible with our own, and anticipate working with them to [increase Argent](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd)  capacity."<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 capability to produce up to 50 million litres of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) 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>