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<br>[Pioneering](https://stocktwits.com/symbol/MNEL) [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) manufacturer Argent Energy offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of [large-scale industrial](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has been bought by a green investment company.<br> |
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<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.zoominfo.com/c/mission-newenergy/346542889) of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire & Sons for a [concealed](https://www.businessnews.com.au/Company/Mission-NewEnergy) amount.<br> |
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<br>Argent makes [green road](https://www.bloomberg.com/profile/company/MNELF:US) fuel by recycling wastes and residues such as used and tallow from the [meat market](https://www.zoominfo.com/c/mission-newenergy/346542889).<br> |
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<br>The firm will remain in [personal ownership](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and will continue to run [separately](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br> |
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<br>Its senior management, [consisting](https://www.bloomberg.com/profile/company/MNELF:US) of chairman Andy Hunter, managing [director Jim](https://pitchbook.com/profiles/company/51278-86) Walker and monetary director [Jim Boyd](https://www.pinterest.com.au/missionnewenergy/) are to remain with the company.<br> |
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<br>Souter Investments, the private investment company of [transport tycoon](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Sir Brian Souter, [verified](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) it had offered its 37% stake in Argent.<br> |
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<br>'Future capacity'<br> |
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<br>Mr Walker said the financial investment by [John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [underlined Argent's](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) strong market position, adding there was now an opportunity "to take Argent's abilities more afield".<br> |
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<br>Barnaby Swire, of John Swire, said his company was devoted to "checking out and buying ingenious and viable green markets".<br> |
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<br>He added: "We are thrilled to be acquiring Argent Energy, a company which we believe can grow and succeed not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business are familiar.<br> |
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<br>"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of [qualities](https://stocktwits.com/symbol/MNEL) and values that are compatible with our own, and [anticipate](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) working with them to maximise Argent Energy's future potential."<br> |
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<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management along with Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) a year.<br> |
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<br>Cooking oil to run buses in trial<br> |
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<br>4 November 2011<br> |
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<br>Argent Energy<br> |
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<br>Souter Investments<br> |
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