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Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy sold
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23 July 2013
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Argent Energy, a leader of massive business [production](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has actually been bought by a green investment firm.
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Argent, based near Motherwell, was offered to a [subsidiary](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of London-based John Swire & Sons for a [concealed](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) sum.
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Argent makes green road fuel by recycling wastes and residues such as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil and tallow from the meat industry.
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The company will stay in [private ownership](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and will continue to run individually.
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Its senior management, [including chairman](https://pitchbook.com/profiles/company/51278-86) Andy Hunter, [handling director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Walker and [financial director](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Jim Boyd are to stay with the company.
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Souter Investments, the [personal investment](https://www.google.com/search?kgmid=/m/0cqd_rb) company of [transport magnate](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Sir Brian Souter, validated it had actually offered its 37% stake in Argent.
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['Future](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) potential'
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Mr Walker said the financial investment by John Swire highlighted [Argent's](https://www.google.com/search?kgmid=/m/0cqd_rb) [strong market](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) position, [including](https://www.bloomberg.com/profile/company/MNELF:US) there was now an opportunity "to take Argent's skills further afield".
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[Barnaby](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire, of John Swire, stated his business was [committed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) to "exploring and purchasing ingenious and viable green industries".
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He included: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and succeed not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group business recognize.
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"[John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) & Sons Ltd sees in staff members a mix of qualities and values that work with our own, and anticipate working with them to maximise Argent [Energy's](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) future capacity."
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Argent was established in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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