Add Pioneering Biodiesel Producer Argent Energy Sold

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

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+<br>[Pioneering](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [producer](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Argent Energy](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been [purchased](https://www.businessnews.com.au/Company/Mission-NewEnergy) by a [green financial](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) investment business.<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 amount.<br>
+<br>Argent makes [green road](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel by [recycling wastes](https://www.businessnews.com.au/Company/Mission-NewEnergy) and [residues](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) such as used cooking oil and tallow from the [meat industry](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>The [company](https://www.google.com/search?kgmid=/m/0cqd_rb) will stay in personal ownership and will continue to run individually.<br>
+<br>Its senior management, [consisting](https://www.pinterest.com.au/missionnewenergy/) of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the business.<br>
+<br>Souter Investments, the  firm of transportation magnate Sir Brian Souter, verified it had offered its 37% stake in Argent.<br>
+<br>['Future](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) capacity'<br>
+<br>Mr Walker stated the financial [investment](https://www.bloomberg.com/profile/company/MNELF:US) by John Swire underlined Argent's strong market position, [including](https://www.google.com/search?kgmid=/m/0cqd_rb) there was now a chance "to take Argent's skills additional afield".<br>
+<br>Barnaby Swire, of John Swire, said his business was devoted to "checking out and investing in ingenious and viable green industries".<br>
+<br>He added: "We are thrilled to be acquiring Argent Energy, a business 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](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) & Sons Ltd sees in Argent Energy's employees a mix of attributes and worths that work with our own, and anticipate dealing with them to maximise [Argent Energy's](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [future capacity](https://www.pinterest.com.au/missionnewenergy/)."<br>
+<br>Argent was established 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 capability to produce approximately 50 million litres of [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) 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>