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<br>Pioneering [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) [producer Argent](https://www.zoominfo.com/c/mission-newenergy/346542889) Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader 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 been bought by a green investment firm.<br> |
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<br>Argent, based near Motherwell, was [offered](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) to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://www.bloomberg.com/profile/company/MNELF:US) amount.<br> |
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<br>Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.<br> |
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<br>The firm will remain in private ownership and will [continue](https://www.zoominfo.com/c/mission-newenergy/346542889) to run .<br> |
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<br>Its senior management, consisting of [chairman Andy](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) Hunter, [handling director](https://www.crunchbase.com/organization/mission-newenergy) Jim Walker and [monetary director](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [Jim Boyd](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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 financial](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) investment company of [transport](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) tycoon Sir Brian Souter, validated it had sold its 37% stake in Argent.<br> |
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<br>['Future](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) capacity'<br> |
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<br>Mr Walker said the financial investment by John [Swire highlighted](https://stocktwits.com/symbol/MNEL) [Argent's strong](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) market position, adding there was now an [opportunity](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) "to take Argent's abilities further afield".<br> |
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<br>Barnaby Swire, of John Swire, said his company was [dedicated](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to "exploring and investing in innovative and feasible green markets".<br> |
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<br>He included: "We are delighted to be getting Argent Energy, a business which we think can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.<br> |
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<br>"John Swire & Sons Ltd sees in Argent Energy's [workers](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) a mix of attributes and worths that are compatible with our own, and look forward to working with them to increase Argent Energy's future [capacity](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/)."<br> |
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<br>Argent was developed in 2001. In 2009 it was purchased by a consortium which consisted of senior management in addition to Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 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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