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Add Pioneering Biodiesel Producer Argent Energy Sold

Kindra Duff 2025-01-09 12:20:56 +08:00
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<br>Pioneering biodiesel manufacturer Argent Energy sold<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of large-scale industrial production of biodiesel in the UK, has actually been purchased by a green investment firm.<br>
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed sum.<br>
<br>Argent makes green roadway fuel by [recycling wastes](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) and residues such as [utilized cooking](https://www.crunchbase.com/organization/mission-newenergy) oil and tallow from the [meat market](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
<br>The firm will remain in private ownership and will continue to run individually.<br>
<br>Its senior management, consisting of Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the company.<br>
<br>Souter Investments, the [personal investment](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) firm of transportation magnate Sir Brian Souter, verified it had actually offered its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the financial investment by John Swire underlined [Argent's strong](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) market position, adding there was now an opportunity "to take Argent's skills additional afield".<br>
<br>Barnaby Swire, of John Swire, stated his business was devoted to "checking out and purchasing ingenious and practical green industries".<br>
<br>He included: "We are happy to be obtaining Argent Energy, a company which our company believe can grow and prosper not just within the UK however also overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://stocktwits.com/symbol/MNEL) a mix of qualities and worths that work with our own, and look forward to dealing with them to increase Argent Energy's future potential."<br>
<br>Argent was established 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 capacity to produce as much as 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>