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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) manufacturer Argent Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a [pioneer](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) of [large-scale business](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has actually been [purchased](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) by a [green investment](https://www.zoominfo.com/c/mission-newenergy/346542889) firm.<br>
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<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.businessnews.com.au/Company/Mission-NewEnergy) Swire & Sons for an sum.<br>
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<br>Argent makes [green roadway](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) fuel by recycling wastes and [residues](https://www.bloomberg.com/profile/company/MNELF:US) such as used cooking oil and tallow from the meat market.<br>
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<br>The company will remain in [private ownership](https://www.businessnews.com.au/Company/Mission-NewEnergy) and will continue to run independently.<br>
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<br>Its senior management, [including chairman](https://www.bloomberg.com/profile/company/MNELF:US) Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the [company](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>Souter Investments, the private financial investment business of transportation magnate Sir Brian Souter, [confirmed](https://stocktwits.com/symbol/MNEL) it had sold its 37% stake in Argent.<br>
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<br>'Future capacity'<br>
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<br>Mr Walker stated the financial investment by John Swire highlighted [Argent's strong](https://pitchbook.com/profiles/company/51278-86) market position, including there was now a chance "to take Argent's abilities further afield".<br>
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<br>Barnaby Swire, of John Swire, said his [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) was [committed](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to "exploring and buying innovative and feasible green industries".<br>
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<br>He added: "We are pleased to be obtaining Argent Energy, a company which our company believe can grow and flourish not just within the UK but also overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
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<br>"[John Swire](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) & Sons Ltd sees in Argent Energy's employees a mix of [attributes](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and values that work with our own, and anticipate dealing with them to maximise Argent [Energy's](https://pitchbook.com/profiles/company/51278-86) [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>
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<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management along with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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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