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+<br>Pioneering [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) [producer](https://www.bloomberg.com/profile/company/MNELF:US)  sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of large-scale commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been [purchased](https://www.zoominfo.com/c/mission-newenergy/346542889) by a green financial investment business.<br>
+<br>Argent, based near Motherwell, was [offered](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to a subsidiary of [London-based John](https://www.zoominfo.com/c/mission-newenergy/346542889) Swire & Sons for an [undisclosed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) sum.<br>
+<br>Argent makes [green roadway](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) fuel by [recycling wastes](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and [residues](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) such as used [cooking oil](https://www.bloomberg.com/profile/company/MNELF:US) and tallow from the [meat industry](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>The firm will remain in personal ownership and will continue to run [independently](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br>
+<br>Its senior management, consisting of chairman Andy Hunter, managing [director Jim](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Walker and monetary director [Jim Boyd](https://www.pinterest.com.au/missionnewenergy/) are to stay with the company.<br>
+<br>Souter Investments, the personal investment company of transportation magnate Sir Brian Souter, confirmed it had actually sold its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker said the financial investment by John Swire highlighted [Argent's strong](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) market position, including there was now an opportunity "to take Argent's skills further afield".<br>
+<br>Barnaby Swire, of John Swire, stated his business was [committed](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 "exploring and purchasing innovative and practical green markets".<br>
+<br>He added: "We are pleased to be getting Argent Energy, a business which we think can grow and prosper not just within the UK however likewise overseas, in specific 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](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and worths that work with our own, and eagerly anticipate working with them to [maximise](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Argent [Energy's future](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) potential."<br>
+<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) 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>
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