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<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer [Argent Energy](https://stocktwits.com/symbol/MNEL) offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of massive business production of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has actually been bought by a [green investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) firm.<br> |
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<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](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) Swire & Sons for a concealed sum.<br> |
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<br>Argent makes green road fuel by recycling wastes and [residues](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) such as used cooking oil and tallow from the meat industry.<br> |
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<br>The firm will remain in and will [continue](https://www.bloomberg.com/profile/company/MNELF:US) to run [independently](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br> |
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<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the [company](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br> |
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<br>Souter Investments, the private financial [investment company](https://www.google.com/search?kgmid=/m/0cqd_rb) of [transportation magnate](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Sir Brian](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Souter, [confirmed](https://www.businessnews.com.au/Company/Mission-NewEnergy) it had sold its 37% stake in Argent.<br> |
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<br>['Future](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) capacity'<br> |
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<br>Mr Walker stated the financial investment by John Swire highlighted [Argent's strong](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) market position, adding there was now an opportunity "to take Argent's abilities more afield".<br> |
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<br>[Barnaby](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Swire, of John Swire, said his business was [dedicated](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to "exploring and investing in ingenious and practical green markets".<br> |
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<br>He added: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and succeed not just within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies are familiar.<br> |
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<br>"[John Swire](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) & Sons Ltd sees in Argent Energy's employees a mix of [attributes](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and worths that work with our own, and anticipate dealing with them to increase [Argent Energy's](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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 along 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://www.crunchbase.com/organization/mission-newenergy) 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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