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<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a pioneer of [massive commercial](https://www.zoominfo.com/c/mission-newenergy/346542889) production of biodiesel in the UK, has been bought by a green financial investment [company](https://www.zoominfo.com/c/mission-newenergy/346542889).<br> |
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<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Swire & Sons for a [concealed](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) sum.<br> |
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<br>Argent makes [green roadway](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel by recycling wastes and [residues](https://www.zoominfo.com/c/mission-newenergy/346542889) such as used [cooking oil](https://stocktwits.com/symbol/MNEL) and tallow from the [meat industry](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br> |
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<br>The firm will remain in personal ownership and will continue to run independently.<br> |
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<br>Its senior management, [consisting](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of chairman Andy Hunter, [handling director](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Jim Walker and monetary director Jim Boyd are to stay with the company.<br> |
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<br>Souter Investments, the [private investment](https://www.bloomberg.com/profile/company/MNELF:US) firm of [transportation magnate](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) Sir Brian Souter, [verified](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) it had actually sold its 37% stake in Argent.<br> |
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<br>'Future capacity'<br> |
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<br>Mr [Walker stated](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) the [financial investment](https://stocktwits.com/symbol/MNEL) by John Swire underlined [Argent's strong](https://stocktwits.com/symbol/MNEL) market position, including there was now an opportunity "to take Argent's abilities more afield".<br> |
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<br>Barnaby Swire, of John Swire, said his company was devoted to "exploring and purchasing 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 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.bloomberg.com/profile/company/MNELF:US) & 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 characteristics and values that work with our own, and anticipate dealing with them to increase future capacity."<br> |
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<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management together with 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.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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> |
