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Pioneering [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) producer Argent Energy offered
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23 July 2013
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Argent Energy, a leader of massive business production of [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) in the UK, has actually been purchased by a [green investment](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) firm.
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Argent, based near Motherwell, was sold to a [subsidiary](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [London-based John](https://www.bloomberg.com/profile/company/MNELF:US) Swire & Sons for a [concealed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) amount.
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Argent makes green road fuel by recycling wastes and [residues](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) such as [utilized cooking](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) oil and tallow from the [meat industry](https://stocktwits.com/symbol/MNEL).
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The firm will remain in [personal ownership](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and will continue to run independently.
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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.energy-xprt.com/companies/mission-newenergy-limited-36048) [director Jim](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Walker and monetary director [Jim Boyd](https://www.crunchbase.com/organization/mission-newenergy) are to stay with the business.
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Souter Investments, the private financial investment company of transportation tycoon Sir Brian Souter, validated it had offered its 37% stake in Argent.
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'Future capacity'
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Mr [Walker stated](https://www.businessnews.com.au/Company/Mission-NewEnergy) the investment by [John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) underlined Argent's strong market position, including there was now a chance "to take Argent's skills more afield".
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Barnaby Swire, of John Swire, stated his [company](https://forest500.org/rankings/companies/mission-newenergy-limited) was [committed](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) to "exploring and buying innovative and viable green industries".
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He included: "We are happy to be getting Argent Energy, a company which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.
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" & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and worths that work with our own, and [eagerly anticipate](https://www.google.com/search?kgmid=/m/0cqd_rb) working with them to maximise Argent Energy's [future capacity](https://www.google.com/search?kgmid=/m/0cqd_rb)."
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Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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