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<br>Pioneering [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [manufacturer Argent](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Energy offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a pioneer of [large-scale industrial](https://pitchbook.com/profiles/company/51278-86) production of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) in the UK, has actually been purchased by a green investment company.<br> |
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<br>Argent, based near Motherwell, was offered to a [subsidiary](https://forest500.org/rankings/companies/mission-newenergy-limited) of London-based John Swire & Sons for an [undisclosed](https://www.businessnews.com.au/Company/Mission-NewEnergy) amount.<br> |
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<br>Argent makes [green road](https://pitchbook.com/profiles/company/51278-86) fuel by recycling wastes and residues such as [utilized cooking](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) oil and tallow from the meat industry.<br> |
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<br>The firm will remain in [personal ownership](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and will continue to run independently.<br> |
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<br>Its senior management, Andy Hunter, [handling director](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Jim Walker and monetary director Jim Boyd are to stay with the company.<br> |
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<br>Souter Investments, the personal financial investment business of transport magnate [Sir Brian](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Souter, [verified](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) it had [offered](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) its 37% stake in Argent.<br> |
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<br>'Future potential'<br> |
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<br>Mr [Walker stated](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) the investment by John Swire underlined Argent's [strong market](https://forest500.org/rankings/companies/mission-newenergy-limited) position, adding there was now an opportunity "to take Argent's skills more afield".<br> |
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<br>[Barnaby](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Swire, of John Swire, stated his company was devoted to "checking out and buying ingenious and viable green industries".<br> |
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<br>He included: "We are thrilled to be obtaining Argent Energy, a company which we 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 [workers](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) a mix of [characteristics](https://www.bloomberg.com/profile/company/MNELF:US) and values that are suitable with our own, and look forward to working with them to [increase Argent](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) [Energy's future](https://www.pinterest.com.au/missionnewenergy/) potential."<br> |
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<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) 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> |
