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+<br>Pioneering [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [producer Argent](https://www.bloomberg.com/profile/company/MNELF:US) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has actually been [purchased](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) by a green investment firm.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for an undisclosed amount.<br>
+<br>Argent makes [green road](https://www.bloomberg.com/profile/company/MNELF:US) fuel by [recycling wastes](https://forest500.org/rankings/companies/mission-newenergy-limited) and  such as used cooking oil and tallow from the [meat industry](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>The firm will remain in personal ownership and will [continue](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to run independently.<br>
+<br>Its senior management, [consisting](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) of [chairman Andy](https://www.businessnews.com.au/Company/Mission-NewEnergy) Hunter, [handling director](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) Jim Walker and monetary director [Jim Boyd](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) are to stay with the [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
+<br>Souter Investments, the [private investment](https://www.google.com/search?kgmid=/m/0cqd_rb) firm of transportation tycoon Sir Brian Souter, validated it had sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr [Walker stated](https://pitchbook.com/profiles/company/51278-86) the investment by John Swire highlighted Argent's strong market position, adding there was now an opportunity "to take Argent's abilities more afield".<br>
+<br>Barnaby Swire, of John Swire, stated his [business](https://www.businessnews.com.au/Company/Mission-NewEnergy) was dedicated to "checking out and purchasing innovative and practical green markets".<br>
+<br>He included: "We are happy to be obtaining Argent Energy, a business which our company believe can grow and prosper not just within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
+<br>"[John Swire](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) & Sons Ltd sees in Argent Energy's workers a mix of [characteristics](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and values that are suitable with our own, and anticipate dealing with them to increase Argent [Energy's](https://www.crunchbase.com/organization/mission-newenergy) future potential."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) a year.<br>
+<br>Cooking oil to run buses in trial<br>
+<br>4 November 2011<br>
+<br>Argent Energy<br>
+<br>Souter Investments<br>
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