Update 'Pioneering Biodiesel Producer Argent Energy Sold'

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

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+<br>[Pioneering](https://forest500.org/rankings/companies/mission-newenergy-limited) [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) [manufacturer Argent](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of large-scale industrial 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.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) by a green investment firm.<br>
+<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of London-based John Swire & Sons for an undisclosed amount.<br>
+<br>Argent makes green roadway fuel by [recycling wastes](https://www.bloomberg.com/profile/company/MNELF:US) and residues such as used cooking oil and tallow from the meat market.<br>
+<br>The [company](https://www.crunchbase.com/organization/mission-newenergy) will remain in [personal ownership](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and will [continue](https://www.zoominfo.com/c/mission-newenergy/346542889) to run [separately](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and financial director [Jim Boyd](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) are to stay with the company.<br>
+<br>Souter Investments, the [personal investment](https://www.bloomberg.com/profile/company/MNELF:US) firm of [transport magnate](https://www.pinterest.com.au/missionnewenergy/) [Sir Brian](https://www.bloomberg.com/profile/company/MNELF:US) Souter, [verified](https://stocktwits.com/symbol/MNEL) it had sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker said the [financial investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) by John Swire highlighted Argent's strong market position, [including](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) there was now an opportunity "to take Argent's skills additional afield".<br>
+<br>Barnaby Swire, of John Swire, said his company was dedicated to "exploring and purchasing ingenious and feasible green markets".<br>
+<br>He added: "We are pleased to be getting Argent Energy, a business which we believe can grow and succeed not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
+<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.zoominfo.com/c/mission-newenergy/346542889) staff members a mix of  and values that work with our own, and eagerly anticipate working with them to maximise Argent Energy's future potential."<br>
+<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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>