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Pioneering [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) manufacturer Argent Energy sold
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23 July 2013
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Argent Energy, a pioneer of large-scale commercial [production](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has actually been bought by a green investment firm.
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Argent, based near Motherwell, was [offered](https://pitchbook.com/profiles/company/51278-86) to a [subsidiary](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) of [London-based John](https://www.bloomberg.com/profile/company/MNELF:US) Swire & Sons for an [undisclosed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) amount.
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Argent makes [green road](https://www.pinterest.com.au/missionnewenergy/) fuel by recycling wastes and residues such as used cooking oil and tallow from the [meat market](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html).
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The firm will remain in private ownership and will continue to run [individually](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).
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Its senior management, including chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the company.
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Souter Investments, the private investment firm of [transportation tycoon](https://www.bloomberg.com/profile/company/MNELF:US) Sir Brian Souter, confirmed it had [offered](https://forest500.org/rankings/companies/mission-newenergy-limited) its 37% stake in Argent.
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['Future](https://www.google.com/search?kgmid=/m/0cqd_rb) capacity'
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Mr Walker said the [financial investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) by John Swire underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities more afield".
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Barnaby Swire, of John Swire, stated his [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) was to "exploring and buying innovative and viable green markets".
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He added: "We are pleased to be acquiring Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group business recognize.
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"[John Swire](https://stocktwits.com/symbol/MNEL) & Sons Ltd sees in Argent Energy's [workers](https://www.bloomberg.com/profile/company/MNELF:US) a mix of [characteristics](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) and values that are suitable with our own, and [eagerly anticipate](https://pitchbook.com/profiles/company/51278-86) dealing with them to increase Argent Energy's [future capacity](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm)."
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Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management in addition to Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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