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<br>Pioneering biodiesel manufacturer [Argent Energy](https://forest500.org/rankings/companies/mission-newenergy-limited) offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of large-scale business [production](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) of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) in the UK, has actually been bought by a green investment firm.<br> |
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<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire & Sons for a [concealed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) sum.<br> |
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<br>Argent makes green roadway fuel by [recycling wastes](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and [residues](https://www.crunchbase.com/organization/mission-newenergy) such as utilized cooking oil and tallow from the [meat market](https://www.bloomberg.com/profile/company/MNELF:US).<br> |
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<br>The firm will remain in personal ownership and will [continue](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to run [separately](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br> |
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<br>Its senior management, consisting of chairman Andy Hunter, [handling director](https://www.zoominfo.com/c/mission-newenergy/346542889) Jim Walker and financial director Jim Boyd are to stay with the company.<br> |
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<br>Souter Investments, the private financial investment company of [transport magnate](https://stocktwits.com/symbol/MNEL) Sir Brian Souter, confirmed it had offered its 37% stake in Argent.<br> |
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<br>['Future](https://www.crunchbase.com/organization/mission-newenergy) potential'<br> |
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<br>Mr [Walker stated](https://forest500.org/rankings/companies/mission-newenergy-limited) the [investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) by John Swire highlighted Argent's strong market position, adding there was now an [opportunity](https://www.pinterest.com.au/missionnewenergy/) "to take Argent's skills further afield".<br> |
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<br> Swire, of John Swire, stated his business was [committed](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to "exploring and investing in ingenious and viable green markets".<br> |
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<br>He included: "We are thrilled to be obtaining Argent Energy, a company which our company believe can grow and flourish not only within the UK but also overseas, in specific in Asian markets with which Swire Group business recognize.<br> |
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<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) employees a mix of [qualities](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and values that work with our own, and look [forward](https://stocktwits.com/symbol/MNEL) to working with them to increase Argent [Energy's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) future potential."<br> |
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<br>Argent was developed in 2001. In 2009 it was purchased 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 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> |
