Update 'Pioneering Biodiesel Producer Argent Energy Sold'

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

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+<br>[Pioneering](https://stocktwits.com/symbol/MNEL) [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) [producer Argent](https://forest500.org/rankings/companies/mission-newenergy-limited) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of [large-scale industrial](https://www.google.com/search?kgmid=/m/0cqd_rb) [production](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has actually been bought by a [green investment](https://www.zoominfo.com/c/mission-newenergy/346542889) firm.<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://stocktwits.com/symbol/MNEL) of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire & Sons for a concealed sum.<br>
+<br>Argent makes [green road](https://www.pinterest.com.au/missionnewenergy/) fuel by [recycling wastes](https://www.pinterest.com.au/missionnewenergy/) and residues such as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil and tallow from the meat industry.<br>
+<br>The company will remain in personal ownership and will continue to run separately.<br>
+<br>Its senior management, including chairman Andy Hunter, [handling director](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jim Walker and monetary director Jim Boyd are to remain with the company.<br>
+<br>Souter Investments, the personal investment firm of [transportation magnate](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [Sir Brian](https://www.zoominfo.com/c/mission-newenergy/346542889) Souter, [confirmed](https://pitchbook.com/profiles/company/51278-86) it had actually sold its 37% stake in Argent.<br>
+<br>['Future](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) capacity'<br>
+<br>Mr Walker said the financial investment by John Swire highlighted [Argent's strong](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) market position, adding there was now an opportunity "to take Argent's abilities further afield".<br>
+<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, said his company was devoted to "checking out and investing in ingenious and practical green markets".<br>
+<br>He added: "We are thrilled to be obtaining Argent Energy, a company which we believe can grow and flourish not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and values that are  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 potential."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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>