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<br>Pioneering [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Energy offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has actually been bought by a green investment firm.<br> |
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<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an [undisclosed](https://forest500.org/rankings/companies/mission-newenergy-limited) amount.<br> |
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<br>Argent makes green road fuel by [recycling wastes](https://www.bloomberg.com/profile/company/MNELF:US) and [residues](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) such as [utilized cooking](https://www.bloomberg.com/profile/company/MNELF:US) oil and tallow from the [meat industry](https://stocktwits.com/symbol/MNEL).<br> |
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<br>The firm will remain in private ownership and will continue to run independently.<br> |
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<br>Its senior management, including chairman Andy Hunter, [managing director](https://pitchbook.com/profiles/company/51278-86) Jim Walker and [monetary](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [director Jim](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Boyd are to stay with the company.<br> |
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<br>Souter Investments, the [private investment](https://stocktwits.com/symbol/MNEL) firm of [transportation tycoon](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [Sir Brian](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Souter, [validated](https://www.google.com/search?kgmid=/m/0cqd_rb) 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 said the investment by [John Swire](https://www.crunchbase.com/organization/mission-newenergy) [highlighted Argent's](https://pitchbook.com/profiles/company/51278-86) [strong market](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) position, adding there was now a chance "to take Argent's skills further afield".<br> |
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<br>[Barnaby](https://www.pinterest.com.au/missionnewenergy/) Swire, of John Swire, said his [business](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) was committed to "exploring and buying ingenious and feasible green markets".<br> |
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<br>He added: "We are happy to be obtaining Argent Energy, a business which our company believe can grow and succeed not only within the UK but also overseas, in particular in Asian markets with which Swire Group business recognize.<br> |
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<br>"[John Swire](https://www.bloomberg.com/profile/company/MNELF:US) & Sons Ltd sees in Argent Energy's employees a mix of attributes and worths that are suitable with our own, and look [forward](https://www.bloomberg.com/profile/company/MNELF:US) to working with them to increase Argent Energy's future capacity."<br> |
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<br>Argent was established in 2001. In 2009 it was purchased 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 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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