From 20f87404d1e70ae30b0f2ccc42928ff24b281c0d Mon Sep 17 00:00:00 2001 From: Aileen Hackler Date: Fri, 17 Jan 2025 21:59:14 +0000 Subject: [PATCH] Add Pioneering Biodiesel Producer Argent Energy Sold --- ...g-Biodiesel-Producer-Argent-Energy-Sold.md | 19 +++++++++++++++++++ 1 file changed, 19 insertions(+) create mode 100644 Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md diff --git a/Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md b/Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md new file mode 100644 index 0000000..1a31dbc --- /dev/null +++ b/Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md @@ -0,0 +1,19 @@ +
Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) manufacturer [Argent Energy](https://stocktwits.com/symbol/MNEL) sold
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23 July 2013
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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.
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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.
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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).
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The firm will remain in personal ownership and will [continue](https://www.businessnews.com.au/Company/Mission-NewEnergy) to run separately.
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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).
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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.
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'Future potential'
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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".
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[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".
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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.
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"[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)."
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Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management in addition to Souter Investments.
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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.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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