Update 'Pioneering Biodiesel Producer Argent Energy Sold'

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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+<br>[Pioneering](https://www.bloomberg.com/profile/company/MNELF:US) [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) [producer Argent](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) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of [large-scale commercial](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) production of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has been bought by a [green investment](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed amount.<br>
+<br>Argent makes [green road](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.<br>
+<br>The [company](https://www.bloomberg.com/profile/company/MNELF:US) will remain in personal ownership and will continue to run individually.<br>
+<br>Its senior management, [including chairman](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Andy Hunter,  [Jim Walker](https://www.zoominfo.com/c/mission-newenergy/346542889) and [financial director](https://www.pinterest.com.au/missionnewenergy/) Jim Boyd are to stay with the [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
+<br>Souter Investments, the private investment firm of transport magnate Sir Brian Souter, validated it had sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker stated the investment by [John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [highlighted](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [Argent's strong](https://www.crunchbase.com/organization/mission-newenergy) market position, adding there was now a chance "to take Argent's skills further afield".<br>
+<br>[Barnaby](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Swire, of John Swire, stated his business was [devoted](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) to "checking out and investing in innovative and viable green industries".<br>
+<br>He included: "We are happy to be acquiring Argent Energy, a company which we think can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.<br>
+<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and values that work with our own, and look forward to working with them to [increase Argent](https://pitchbook.com/profiles/company/51278-86) [Energy's future](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) capacity."<br>
+<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) a year.<br>
+<br>Cooking oil to run buses in trial<br>
+<br>4 November 2011<br>
+<br>Argent Energy<br>
+<br>Souter Investments<br>