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+<br>Pioneering [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [producer Argent](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Energy sold<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of massive industrial production of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has actually been bought by a green investment business.<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 fuel by [recycling wastes](https://www.businessnews.com.au/Company/Mission-NewEnergy) and [residues](https://www.pinterest.com.au/missionnewenergy/) such as used [cooking oil](https://www.google.com/search?kgmid=/m/0cqd_rb) and tallow from the [meat industry](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>The [company](https://www.bloomberg.com/profile/company/MNELF:US) will remain in personal ownership and will [continue](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to run .<br>
+<br>Its senior management, including chairman Andy Hunter, [handling director](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [Jim Walker](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 [financial director](https://www.businessnews.com.au/Company/Mission-NewEnergy) Jim Boyd are to remain with the [company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
+<br>Souter Investments, the personal investment company of transportation magnate Sir Brian Souter, [confirmed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) it had actually sold its 37% stake in Argent.<br>
+<br>'Future potential'<br>
+<br>Mr Walker stated the [investment](https://forest500.org/rankings/companies/mission-newenergy-limited) by [John Swire](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [underlined Argent's](https://www.pinterest.com.au/missionnewenergy/) strong market position, [including](https://pitchbook.com/profiles/company/51278-86) there was now an opportunity "to take Argent's skills further afield".<br>
+<br>Barnaby Swire, of John Swire, said his business was committed to "exploring and investing in ingenious and viable green industries".<br>
+<br>He added: "We are delighted to be getting Argent Energy, a company which we think can grow and succeed not just 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](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) a mix of attributes and worths that are [suitable](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) with our own, and anticipate dealing with them to maximise [Argent Energy's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) future capacity."<br>
+<br>Argent was developed in 2001. In 2009 it was bought 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 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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