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+<br>Pioneering [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) manufacturer [Argent Energy](https://pitchbook.com/profiles/company/51278-86) sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of large-scale industrial [production](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has been bought by a green financial [investment company](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire & Sons for a concealed sum.<br>
+<br>Argent makes green road fuel by [recycling wastes](https://stocktwits.com/symbol/MNEL) and [residues](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) such as utilized [cooking oil](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and tallow from the .<br>
+<br>The [company](https://www.bloomberg.com/profile/company/MNELF:US) will remain in private ownership and will continue to run individually.<br>
+<br>Its senior management, [consisting](https://www.businessnews.com.au/Company/Mission-NewEnergy) of chairman Andy Hunter, handling director [Jim Walker](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and financial [director Jim](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Boyd are to remain with the business.<br>
+<br>Souter Investments, the personal investment company of transportation tycoon Sir Brian Souter, confirmed it had offered its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr [Walker stated](https://www.businessnews.com.au/Company/Mission-NewEnergy) the investment by John Swire underlined [Argent's strong](https://www.google.com/search?kgmid=/m/0cqd_rb) market position, adding there was now an [opportunity](https://www.crunchbase.com/organization/mission-newenergy) "to take Argent's abilities additional afield".<br>
+<br>[Barnaby](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire, of John Swire, stated his [business](https://forest500.org/rankings/companies/mission-newenergy-limited) was dedicated to "exploring and buying innovative and viable green industries".<br>
+<br>He included: "We are happy to be obtaining Argent Energy, a company which our company believe can grow and prosper not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
+<br>"[John Swire](https://www.google.com/search?kgmid=/m/0cqd_rb) & Sons Ltd sees in Argent Energy's [workers](https://www.businessnews.com.au/Company/Mission-NewEnergy) a mix of characteristics and worths that are compatible with our own, and eagerly anticipate working with them to increase Argent [Energy's future](https://pitchbook.com/profiles/company/51278-86) potential."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of biodiesel 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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