<strong>Pioneering Biodiesel Producer Argent Energy Sold</strong>

Pioneering <a href="https://www.crunchbase.com/organization/mission-newenergy">biodiesel</a> producer <a href="https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053">Argent Energy</a> offered
23 July 2013
Argent Energy, a leader of large-scale commercial production of <a href="https://www.crunchbase.com/organization/mission-newenergy">biodiesel</a> in the UK, has been bought by a green investment firm.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed sum.
Argent makes green roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the <a href="https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html">meat market</a>.
The company will remain in private ownership and will continue to run independently.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the company.
Souter Investments, the personal investment firm of transport tycoon Sir Brian Souter, verified it had offered its 37% stake in Argent.
'Future potential'
Mr Walker said the <a href="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">financial investment</a> by John <a href="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">Swire underlined</a> market position, adding there was now a chance "to take Argent's skills more afield".
Barnaby Swire, of John Swire, stated his company was devoted to "checking out and buying ingenious and feasible green industries".
He added: "We are happy to be getting Argent Energy, a business which we believe can grow and prosper not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and values that work with our own, and anticipate working with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was bought by a consortium which included senior management together with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of <a href="https://www.missionnewenergy.com/">biodiesel</a> a year.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments