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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) manufacturer Argent Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a pioneer of large-scale business [production](https://www.crunchbase.com/organization/mission-newenergy) of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has been bought by a green investment firm.<br> |
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<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) sum.<br> |
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<br>Argent makes green road fuel by [recycling wastes](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and [residues](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) such as used [cooking oil](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and tallow from the [meat market](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br> |
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<br>The firm will remain in private ownership and will continue to run separately.<br> |
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<br>Its senior management, [including chairman](https://www.zoominfo.com/c/mission-newenergy/346542889) Andy Hunter, [managing director](https://pitchbook.com/profiles/company/51278-86) Jim Walker and financial director Jim Boyd are to remain with the .<br> |
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<br>Souter Investments, the [private investment](https://www.bloomberg.com/profile/company/MNELF:US) firm of [transportation magnate](https://www.crunchbase.com/organization/mission-newenergy) [Sir Brian](https://www.zoominfo.com/c/mission-newenergy/346542889) Souter, [validated](https://www.businessnews.com.au/Company/Mission-NewEnergy) it had sold its 37% stake in Argent.<br> |
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<br>'Future potential'<br> |
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<br>Mr Walker said the financial investment by [John Swire](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) [underlined Argent's](https://www.crunchbase.com/organization/mission-newenergy) strong market position, [including](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) there was now an [opportunity](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) "to take Argent's skills further afield".<br> |
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<br>Barnaby Swire, of John Swire, stated his business was dedicated to "exploring and buying innovative and viable green industries".<br> |
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<br>He added: "We are happy to be getting Argent Energy, a company which we think can grow and succeed not just within the UK but also overseas, in particular 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 [employees](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a mix of attributes and values that work with our own, and look forward to working with them to maximise Argent [Energy's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) future capacity."<br> |
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<br>Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management together with Souter Investments.<br> |
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<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> |
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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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