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<br>Pioneering [biodiesel](https://www.pinterest.com.au/missionnewenergy/) manufacturer Argent Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a pioneer of massive industrial production of [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) in the UK, has actually been bought by a [green investment](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [business](https://stocktwits.com/symbol/MNEL).<br>
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<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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 an sum.<br>
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<br>Argent makes [green road](https://www.crunchbase.com/organization/mission-newenergy) fuel by [recycling wastes](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and residues such as used [cooking oil](https://www.businessnews.com.au/Company/Mission-NewEnergy) and tallow from the meat industry.<br>
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<br>The firm will remain in [private ownership](https://www.crunchbase.com/organization/mission-newenergy) and will continue to run [separately](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
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<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and [monetary director](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Jim Boyd are to stay with the [business](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
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<br>Souter Investments, the personal investment firm of [transportation tycoon](https://www.pinterest.com.au/missionnewenergy/) [Sir Brian](https://forest500.org/rankings/companies/mission-newenergy-limited) Souter, confirmed it had actually 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 said the financial investment by John Swire highlighted Argent's strong market position, adding there was now an opportunity "to take Argent's abilities further afield".<br>
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<br>Barnaby Swire, of John Swire, said his business was [committed](https://www.bloomberg.com/profile/company/MNELF:US) to "exploring and investing in ingenious and viable green markets".<br>
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<br>He included: "We are thrilled to be obtaining Argent Energy, a business which we think can grow and prosper not only within the UK however also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
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<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a mix of [qualities](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and worths that are [suitable](https://pitchbook.com/profiles/company/51278-86) with our own, and look forward to dealing with them to maximise Argent Energy's future potential."<br>
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<br>Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management along with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 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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