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<br>[Pioneering](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [producer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a pioneer of large-scale business [production](https://www.google.com/search?kgmid=/m/0cqd_rb) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been bought by a green investment firm.<br>
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<br>Argent, based near Motherwell, was sold to a [subsidiary](https://stocktwits.com/symbol/MNEL) of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 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 company will stay in [private ownership](https://www.bloomberg.com/profile/company/MNELF:US) and will continue to run individually.<br>
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<br>Its senior management, including chairman Andy Hunter, [handling director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Walker and [financial director](https://pitchbook.com/profiles/company/51278-86) Jim Boyd are to stay with the [company](https://forest500.org/rankings/companies/mission-newenergy-limited).<br>
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<br>Souter Investments, the [private financial](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) investment business of [transport tycoon](https://www.crunchbase.com/organization/mission-newenergy) Sir Brian Souter, verified it had actually sold its 37% stake in Argent.<br>
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<br>['Future](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) potential'<br>
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<br>Mr Walker stated the financial [investment](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) by John Swire highlighted Argent's position, adding there was now a chance "to take Argent's abilities more afield".<br>
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<br>Barnaby Swire, of John Swire, stated his business was [dedicated](https://www.pinterest.com.au/missionnewenergy/) to "checking out and purchasing innovative and practical green markets".<br>
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<br>He added: "We are happy to be acquiring Argent Energy, a company which we believe can grow and flourish not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies recognize.<br>
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<br>"[John Swire](https://www.zoominfo.com/c/mission-newenergy/346542889) & Sons Ltd sees in [Argent Energy's](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [workers](https://pitchbook.com/profiles/company/51278-86) a mix of [attributes](https://www.pinterest.com.au/missionnewenergy/) and worths that work with our own, and look forward to working with them to increase Argent Energy's future potential."<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 capability to produce up to 50 million litres of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) 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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