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<br>[Pioneering](https://pitchbook.com/profiles/company/51278-86) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy offered<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a of massive commercial [production](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in the UK, has been purchased by a [green financial](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [investment company](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/).<br>
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<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.crunchbase.com/organization/mission-newenergy) of [London-based John](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire & Sons for an [undisclosed](https://www.bloomberg.com/profile/company/MNELF:US) sum.<br>
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<br>Argent makes [green road](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) fuel by [recycling wastes](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and residues such as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil and tallow from the meat market.<br>
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<br>The [company](https://pitchbook.com/profiles/company/51278-86) will remain in personal ownership and will continue to run independently.<br>
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<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the company.<br>
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<br>Souter Investments, the [personal investment](https://www.google.com/search?kgmid=/m/0cqd_rb) firm of [transport tycoon](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Sir Brian Souter, [confirmed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) it had sold its 37% stake in Argent.<br>
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<br>'Future capacity'<br>
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<br>Mr Walker stated the financial investment by John Swire [highlighted Argent's](https://www.crunchbase.com/organization/mission-newenergy) strong market position, including there was now an opportunity "to take Argent's skills more afield".<br>
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<br>[Barnaby](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire, of John Swire, stated his company was dedicated to "checking out and purchasing ingenious and viable green markets".<br>
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<br>He added: "We are pleased to be obtaining Argent Energy, a company which we believe can grow and prosper not just within the UK but likewise overseas, in specific in Asian markets with which Swire Group business are familiar.<br>
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<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) a mix of attributes and worths that are suitable with our own, and anticipate working with them to maximise Argent [Energy's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) future potential."<br>
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<br>Argent was developed in 2001. In 2009 it was bought 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 capacity to produce up to 50 million litres of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 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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