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Add Pioneering Biodiesel Producer Argent Energy Sold

Clint Rohu 2025-01-18 19:39:25 +08:00
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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](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale business production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the UK, has actually been purchased by a [investment business](https://www.pinterest.com.au/missionnewenergy/).<br>
<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed amount.<br>
<br>Argent makes green road fuel by recycling wastes and [residues](https://pitchbook.com/profiles/company/51278-86) such as used [cooking oil](https://www.google.com/search?kgmid=/m/0cqd_rb) and tallow from the meat industry.<br>
<br>The firm will stay in private ownership and will continue to run independently.<br>
<br>Its senior management, [consisting](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of chairman Andy Hunter, [handling](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [director](https://www.zoominfo.com/c/mission-newenergy/346542889) [Jim Walker](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and [financial director](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [Jim Boyd](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) are to stay with the [company](https://www.crunchbase.com/organization/mission-newenergy).<br>
<br>Souter Investments, the personal financial investment [business](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of transportation [magnate Sir](https://www.crunchbase.com/organization/mission-newenergy) Brian Souter, confirmed it had actually offered its 37% stake in Argent.<br>
<br>'Future capacity'<br>
<br>Mr Walker said the financial investment by [John Swire](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [underlined Argent's](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [strong market](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) position, adding there was now an opportunity "to take Argent's skills more afield".<br>
<br>[Barnaby](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire, of John Swire, stated his business was committed to "exploring and buying ingenious and practical green industries".<br>
<br>He added: "We are delighted to be acquiring Argent Energy, a company which we think can grow and flourish not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's employees a mix of attributes and values that are compatible with our own, and eagerly anticipate working with them to maximise Argent Energy's future [capacity](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048)."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) 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>