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<br>[Pioneering](https://forest500.org/rankings/companies/mission-newenergy-limited) [biodiesel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) manufacturer Argent Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of [large-scale commercial](https://www.pinterest.com.au/missionnewenergy/) [production](https://stocktwits.com/symbol/MNEL) of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in the UK, has actually been purchased by a green investment [company](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br> |
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<br>Argent, based near Motherwell, was offered to a subsidiary of [London-based John](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 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.energy-xprt.com/companies/mission-newenergy-limited-36048) and residues such as used cooking oil and tallow from the meat industry.<br> |
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<br>The firm will remain in personal ownership and will continue to run [individually](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).<br> |
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<br>Its senior management, consisting of chairman Andy Hunter, managing [director Jim](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Walker and [monetary director](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) [Jim Boyd](https://forest500.org/rankings/companies/mission-newenergy-limited) are to stay with the business.<br> |
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<br>Souter Investments, the [private investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) firm of transport tycoon Sir Brian Souter, verified it had actually [offered](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) its 37% stake in Argent.<br> |
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<br>'Future capacity'<br> |
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<br>Mr [Walker stated](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) the [financial investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) by John Swire highlighted Argent's strong market position, adding there was now an [opportunity](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) "to take Argent's abilities further afield".<br> |
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<br>[Barnaby](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Swire, of John Swire, stated his business was dedicated to "checking out and investing in innovative and practical green markets".<br> |
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<br>He added: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and flourish not only within the UK however likewise 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 workers a mix of qualities and worths that work with our own, and look to dealing with them to [increase Argent](https://www.crunchbase.com/organization/mission-newenergy) Energy's future capacity."<br> |
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<br>Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) 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> |
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