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<br>Pioneering [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) producer Argent Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a [pioneer](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) of large-scale industrial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been purchased by a [green investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) firm.<br> |
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<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [London-based John](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire & Sons for an undisclosed sum.<br> |
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<br>Argent makes [green road](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.<br> |
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<br>The company will remain in [personal ownership](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and will continue to run [independently](https://pitchbook.com/profiles/company/51278-86).<br> |
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<br>Its senior management, consisting of [chairman Andy](https://www.businessnews.com.au/Company/Mission-NewEnergy) Hunter, handling director Jim Walker and [financial director](https://www.crunchbase.com/organization/mission-newenergy) Jim Boyd are to stay with the business.<br> |
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<br>Souter Investments, the private investment firm of transport tycoon Souter, validated it had [offered](https://www.crunchbase.com/organization/mission-newenergy) its 37% stake in Argent.<br> |
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<br>'Future capacity'<br> |
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<br>Mr Walker said the financial investment by [John Swire](https://stocktwits.com/symbol/MNEL) underlined [Argent's strong](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) market position, [including](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) there was now a chance "to take Argent's skills additional afield".<br> |
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<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, said his [company](https://www.bloomberg.com/profile/company/MNELF:US) was devoted to "checking out and buying innovative and feasible green markets".<br> |
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<br>He included: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies recognize.<br> |
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<br>"[John Swire](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) & Sons Ltd sees in Argent Energy's [workers](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) a mix of [attributes](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) and worths that are compatible with our own, and look forward to working with them to maximise Argent Energy's future capacity."<br> |
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<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management in addition to 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://www.zoominfo.com/c/mission-newenergy/346542889) 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> |
