Update 'Pioneering Biodiesel Producer Argent Energy Sold'

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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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.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [manufacturer](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [Argent Energy](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of massive business [production](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has been bought by a green financial investment company.<br>
+<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire & Sons for an undisclosed sum.<br>
+<br>Argent makes green roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the [meat industry](https://www.bloomberg.com/profile/company/MNELF:US).<br>
+<br>The company will remain in personal ownership and will continue to run independently.<br>
+<br>Its senior management, including chairman Andy Hunter, [handling director](https://pitchbook.com/profiles/company/51278-86) Jim Walker and [monetary](https://pitchbook.com/profiles/company/51278-86) [director Jim](https://stocktwits.com/symbol/MNEL) Boyd are to stay with the business.<br>
+<br>Souter Investments, the personal investment firm of [transport magnate](https://forest500.org/rankings/companies/mission-newenergy-limited) Sir Brian Souter,  it had [offered](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker said the [financial investment](https://stocktwits.com/symbol/MNEL) by [John Swire](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [highlighted Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) strong market position, [including](https://www.crunchbase.com/organization/mission-newenergy) there was now a chance "to take Argent's abilities further afield".<br>
+<br>Barnaby Swire, of John Swire, stated his [company](https://forest500.org/rankings/companies/mission-newenergy-limited) was dedicated to "checking out and buying ingenious and practical green industries".<br>
+<br>He added: "We are thrilled to be getting Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
+<br>"[John Swire](https://forest500.org/rankings/companies/mission-newenergy-limited) & Sons Ltd sees in Argent Energy's employees a mix of characteristics and values that are suitable with our own, and look forward to working with them to increase Argent Energy's [future potential](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)."<br>
+<br>Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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>