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+<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [producer](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Argent Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of large-scale industrial production of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in the UK, has been bought by a green investment business.<br>
+<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [London-based John](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire & Sons for a concealed amount.<br>
+<br>Argent makes [green road](https://www.bloomberg.com/profile/company/MNELF:US) fuel by [recycling wastes](https://www.crunchbase.com/organization/mission-newenergy) and residues such as used [cooking oil](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and tallow from the meat market.<br>
+<br>The company will remain in private ownership and will continue to run individually.<br>
+<br>Its senior management, consisting of chairman Andy Hunter, [handling director](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Jim Walker](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and [monetary director](https://www.businessnews.com.au/Company/Mission-NewEnergy) Jim Boyd are to remain with the [company](https://www.bloomberg.com/profile/company/MNELF:US).<br>
+<br>Souter Investments, the [private investment](https://www.bloomberg.com/profile/company/MNELF:US) firm of [transport magnate](https://www.bloomberg.com/profile/company/MNELF:US) [Sir Brian](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) Souter, validated it had offered its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker stated the financial investment by John Swire [highlighted Argent's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) strong market position, including there was now an [opportunity](https://www.zoominfo.com/c/mission-newenergy/346542889) "to take Argent's abilities additional afield".<br>
+<br>[Barnaby](https://pitchbook.com/profiles/company/51278-86) Swire, of John Swire, stated his business was [devoted](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to "checking out and buying innovative and viable green markets".<br>
+<br>He added: "We are pleased to be acquiring Argent Energy, a company which our company believe can grow and prosper not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
+<br>" & Sons Ltd sees in [Argent Energy's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) employees a mix of attributes and values that work with our own, and eagerly anticipate dealing with them to increase Argent Energy's future capacity."<br>
+<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>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) 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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