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<br>Pioneering [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) [manufacturer Argent](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Energy offered<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been [purchased](https://forest500.org/rankings/companies/mission-newenergy-limited) 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) [business](https://www.google.com/search?kgmid=/m/0cqd_rb).<br>
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<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://www.google.com/search?kgmid=/m/0cqd_rb) sum.<br>
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<br>Argent makes [green road](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) fuel by [recycling wastes](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and residues such as used cooking oil and tallow from the meat market.<br>
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<br>The company will remain in private ownership and will continue to run [individually](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
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<br>Its senior management, including chairman Andy Hunter, [managing director](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Jim Walker and financial director Jim Boyd are to stay with the [business](https://stocktwits.com/symbol/MNEL).<br>
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<br>Souter Investments, the [personal 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 of transport tycoon Sir Brian Souter, [confirmed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) it had actually sold its 37% stake in Argent.<br>
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<br>['Future](https://www.bloomberg.com/profile/company/MNELF:US) 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](https://www.google.com/search?kgmid=/m/0cqd_rb) [Argent's strong](https://forest500.org/rankings/companies/mission-newenergy-limited) market position, adding there was now a chance "to take Argent's abilities additional afield".<br>
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<br>[Barnaby](https://www.bloomberg.com/profile/company/MNELF:US) Swire, of John Swire, said his company was committed to "exploring and investing in innovative and viable green markets".<br>
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<br>He included: "We are delighted to be obtaining Argent Energy, a company which we think can grow and prosper not only within the UK however also overseas, in specific in Asian markets with which Swire Group business recognize.<br>
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<br>"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of [characteristics](https://www.crunchbase.com/organization/mission-newenergy) and worths that work with our own, and dealing with them to increase 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 together with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 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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