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<br>[Pioneering](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [producer Argent](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of [massive business](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 [purchased](https://pitchbook.com/profiles/company/51278-86) by a [green investment](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) firm.<br> |
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<br>Argent, based near Motherwell, was [offered](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to a [subsidiary](https://www.bloomberg.com/profile/company/MNELF:US) of [London-based John](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Swire & Sons for a [concealed](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) amount.<br> |
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<br>Argent makes [green roadway](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) fuel by recycling wastes and residues such as used cooking oil and tallow from the [meat industry](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).<br> |
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<br>The [company](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) will stay in personal ownership and will continue to run individually.<br> |
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<br>Its senior management, consisting of [chairman Andy](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Hunter, [managing](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) director Jim Walker and financial director Jim Boyd are to remain with the [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br> |
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<br>Souter Investments, the personal financial investment company of transport tycoon Sir Brian Souter, verified it had actually offered its 37% stake in Argent.<br> |
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<br>'Future potential'<br> |
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<br>Mr Walker stated the financial investment by John [Swire highlighted](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Argent's strong market position, adding there was now an opportunity "to take Argent's abilities further afield".<br> |
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<br>Barnaby Swire, of John Swire, stated his business was dedicated to "checking out and investing in innovative and practical green industries".<br> |
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<br>He included: "We are thrilled to be getting Argent Energy, a company which we think can grow and flourish not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br> |
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<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of and worths that are suitable with our own, and anticipate dealing with them to increase [Argent Energy's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) future [potential](https://www.investing.com/equities/mission-newenergy-ltd-company-profile)."<br> |
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<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capability 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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