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<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) manufacturer [Argent Energy](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of massive business production of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has been bought by a [green investment](https://stocktwits.com/symbol/MNEL) firm.<br> |
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<br>Argent, based near Motherwell, was [offered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) to a subsidiary of [London-based John](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire & Sons for an [undisclosed](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) amount.<br> |
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<br>Argent makes green road fuel by recycling wastes and residues such as [utilized cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil and tallow from the [meat industry](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br> |
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<br>The company will remain in private ownership and will [continue](https://pitchbook.com/profiles/company/51278-86) to run [independently](https://forest500.org/rankings/companies/mission-newenergy-limited).<br> |
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<br>Its senior management, Andy Hunter, [managing director](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Jim Walker and [financial director](https://www.bloomberg.com/profile/company/MNELF:US) [Jim Boyd](https://stocktwits.com/symbol/MNEL) are to stay with the business.<br> |
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<br>Souter Investments, the personal financial investment company of transportation tycoon Sir Brian Souter, [verified](https://forest500.org/rankings/companies/mission-newenergy-limited) it had sold its 37% stake in Argent.<br> |
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<br>['Future](https://www.google.com/search?kgmid=/m/0cqd_rb) potential'<br> |
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<br>Mr Walker stated the investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities additional afield".<br> |
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<br>[Barnaby](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire, of John Swire, stated his business was devoted to "exploring and buying innovative and viable green markets".<br> |
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<br>He added: "We are delighted to be acquiring Argent Energy, a company which our company believe can grow and succeed not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.<br> |
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<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) a mix of [qualities](https://www.google.com/search?kgmid=/m/0cqd_rb) and worths that work with our own, and anticipate dealing with them to [increase](https://pitchbook.com/profiles/company/51278-86) Argent [Energy's](https://www.pinterest.com.au/missionnewenergy/) future potential."<br> |
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<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included 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> |
