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<br>[Pioneering](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [manufacturer 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 pioneer of massive business production of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) in the UK, has been purchased by a [green investment](https://stocktwits.com/symbol/MNEL) business.<br> |
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<br>Argent, based near Motherwell, was [offered](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to a subsidiary of London-based John Swire & Sons for an undisclosed amount.<br> |
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<br>Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.<br> |
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<br>The firm will remain in personal ownership and will [continue](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to run separately.<br> |
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<br>Its senior management, consisting of Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the [company](https://forest500.org/rankings/companies/mission-newenergy-limited).<br> |
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<br>Souter Investments, the private investment [business](https://www.crunchbase.com/organization/mission-newenergy) of transport tycoon [Sir Brian](https://www.businessnews.com.au/Company/Mission-NewEnergy) Souter, [validated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) it had sold its 37% stake in Argent.<br> |
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<br>['Future](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) capacity'<br> |
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<br>Mr Walker said the financial investment by John Swire [highlighted Argent's](https://www.businessnews.com.au/Company/Mission-NewEnergy) strong market position, [including](https://www.google.com/search?kgmid=/m/0cqd_rb) there was now an opportunity "to take Argent's abilities more afield".<br> |
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<br>[Barnaby](https://www.pinterest.com.au/missionnewenergy/) Swire, of John Swire, said his [business](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) was committed to "checking out and investing in innovative and practical green industries".<br> |
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<br>He included: "We are delighted to be obtaining Argent Energy, a company which we think can grow and succeed not just within the UK but also overseas, in specific in Asian markets with which Swire Group companies recognize.<br> |
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<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.pinterest.com.au/missionnewenergy/) staff members a mix of [attributes](https://www.businessnews.com.au/Company/Mission-NewEnergy) and values that are compatible with our own, and [anticipate dealing](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) with them to [maximise](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Argent Energy's future capacity."<br> |
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<br>Argent was established in 2001. In 2009 it was bought 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 capacity to produce as much as 50 million litres of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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> |
