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Pioneering [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) producer Argent Energy sold
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23 July 2013
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Argent Energy, a [pioneer](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of massive industrial production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in the UK, has 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 firm.
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Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Swire & Sons for an [undisclosed](https://forest500.org/rankings/companies/mission-newenergy-limited) amount.
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Argent makes green road fuel by recycling wastes and residues such as [utilized cooking](https://pitchbook.com/profiles/company/51278-86) oil and tallow from the [meat market](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).
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The firm will stay in [personal ownership](https://www.google.com/search?kgmid=/m/0cqd_rb) and will continue to run .
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Its senior management, consisting of chairman Andy Hunter, [handling](https://forest500.org/rankings/companies/mission-newenergy-limited) [director Jim](https://pitchbook.com/profiles/company/51278-86) Walker and [monetary director](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Jim Boyd are to remain with the [company](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053).
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Souter Investments, the private investment firm of transport tycoon [Sir Brian](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Souter, [confirmed](https://forest500.org/rankings/companies/mission-newenergy-limited) it had actually sold its 37% stake in Argent.
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['Future](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) capacity'
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Mr Walker said the investment by John Swire [highlighted Argent's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) strong market position, adding there was now an opportunity "to take Argent's abilities further afield".
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Barnaby Swire, of John Swire, said his business was dedicated to "exploring and purchasing innovative and practical green markets".
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He included: "We are happy to be getting Argent Energy, a company which we believe can grow and flourish not only within the UK but also overseas, in specific in Asian markets with which Swire Group business are familiar.
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"[John Swire](https://pitchbook.com/profiles/company/51278-86) & Sons Ltd sees in Argent Energy's [employees](https://pitchbook.com/profiles/company/51278-86) a mix of [characteristics](https://stocktwits.com/symbol/MNEL) and worths that work with our own, and eagerly anticipate dealing with them to maximise Argent Energy's future capacity."
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Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management in addition to Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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