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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) [producer Argent](https://www.crunchbase.com/organization/mission-newenergy) Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a leader of massive industrial [production](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has been purchased by a [green financial](https://pitchbook.com/profiles/company/51278-86) investment company.<br>
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<br>Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a [concealed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) amount.<br>
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<br>Argent makes fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.<br>
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<br>The firm will remain in personal ownership and will continue to run [separately](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
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<br>Its senior management, [consisting](https://www.zoominfo.com/c/mission-newenergy/346542889) of chairman Andy Hunter, [managing](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [director Jim](https://www.businessnews.com.au/Company/Mission-NewEnergy) Walker and monetary [director Jim](https://pitchbook.com/profiles/company/51278-86) Boyd are to stay with the company.<br>
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<br>Souter Investments, the [personal investment](https://www.zoominfo.com/c/mission-newenergy/346542889) firm of transportation tycoon Sir Brian Souter, [confirmed](https://stocktwits.com/symbol/MNEL) it had actually [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 stated the [financial](https://www.google.com/search?kgmid=/m/0cqd_rb) investment by [John Swire](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [underlined Argent's](https://www.google.com/search?kgmid=/m/0cqd_rb) strong market position, including there was now an opportunity "to take Argent's skills more afield".<br>
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<br>Barnaby Swire, of John Swire, said his business was committed to "checking out and investing in innovative and feasible green industries".<br>
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<br>He added: "We are happy to be getting Argent Energy, a company which we think can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
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<br>"[John Swire](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) & Sons Ltd sees in Argent Energy's employees a mix of [attributes](https://stocktwits.com/symbol/MNEL) and worths that work with our own, and look forward to dealing with them to [maximise Argent](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Energy's future capacity."<br>
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<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capacity 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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