Add Pioneering Biodiesel Producer Argent Energy Sold

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

@@ -0,0 +1,19 @@
+<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) manufacturer [Argent Energy](https://stocktwits.com/symbol/MNEL) sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a [pioneer](https://www.crunchbase.com/organization/mission-newenergy) of large-scale industrial production of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) in the UK, has been bought 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.<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://pitchbook.com/profiles/company/51278-86) of [London-based John](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire & Sons for an [undisclosed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) amount.<br>
+<br>Argent makes [green road](https://www.crunchbase.com/organization/mission-newenergy) fuel by recycling wastes and residues such as used [cooking oil](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and tallow from the [meat market](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
+<br>The firm will remain in personal ownership and will [continue](https://www.businessnews.com.au/Company/Mission-NewEnergy) to run separately.<br>
+<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the [business](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
+<br>Souter Investments, the personal investment business of transportation tycoon Sir Brian Souter, [confirmed](https://www.bloomberg.com/profile/company/MNELF:US) it had sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker said the  by [John Swire](https://www.zoominfo.com/c/mission-newenergy/346542889) [underlined Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) strong market position, adding there was now a chance "to take Argent's skills additional afield".<br>
+<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire, of John Swire, stated his business was dedicated to "exploring and investing in innovative and practical green industries".<br>
+<br>He added: "We are thrilled to be getting Argent Energy, a company which our company believe can grow and succeed not only within the UK however also overseas, in specific in Asian markets with which Swire Group business recognize.<br>
+<br>"[John Swire](https://www.bloomberg.com/profile/company/MNELF:US) & Sons Ltd sees in Argent Energy's staff members a mix of attributes and values that are suitable with our own, and anticipate working with them to maximise Argent [Energy's future](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [capacity](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm)."<br>
+<br>Argent was established 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://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) 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>