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+<br>Pioneering [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [manufacturer](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Argent Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a leader of [large-scale industrial](https://www.bloomberg.com/profile/company/MNELF:US) production of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the UK, has been purchased by a [green financial](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) investment company.<br>
+<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire & Sons for an undisclosed amount.<br>
+<br>Argent makes [green roadway](https://www.pinterest.com.au/missionnewenergy/) fuel by recycling wastes and residues such as used [cooking oil](https://stocktwits.com/symbol/MNEL) and tallow from the [meat market](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
+<br>The company will remain in personal ownership and will continue to run [separately](https://pitchbook.com/profiles/company/51278-86).<br>
+<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to stay with the .<br>
+<br>Souter Investments, the private investment company of transport tycoon [Sir Brian](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Souter, [confirmed](https://pitchbook.com/profiles/company/51278-86) it had sold its 37% stake in Argent.<br>
+<br>['Future](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) potential'<br>
+<br>Mr Walker said the [investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's skills additional afield".<br>
+<br>[Barnaby](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) Swire, of John Swire, said his company was dedicated to "checking out and purchasing innovative and feasible green industries".<br>
+<br>He added: "We are thrilled to be obtaining Argent Energy, a company which we believe can grow and succeed not only within the UK but also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br>
+<br>"[John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) & Sons Ltd sees in [Argent Energy's](https://www.crunchbase.com/organization/mission-newenergy) [workers](https://www.zoominfo.com/c/mission-newenergy/346542889) a mix of attributes and values that work with our own, and eagerly anticipate [dealing](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) with them to [increase](https://stocktwits.com/symbol/MNEL) Argent Energy's future potential."<br>
+<br>Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management in addition to Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.crunchbase.com/organization/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>
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