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<br>[Pioneering](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) manufacturer Argent Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a pioneer of massive commercial production of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has actually been purchased by a green financial investment business.<br> |
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<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of [London-based John](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Swire & Sons for a [concealed](https://pitchbook.com/profiles/company/51278-86) sum.<br> |
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<br>Argent makes [green roadway](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel by [recycling wastes](https://www.google.com/search?kgmid=/m/0cqd_rb) and such as [utilized](https://www.google.com/search?kgmid=/m/0cqd_rb) [cooking oil](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and tallow from the [meat industry](https://www.zoominfo.com/c/mission-newenergy/346542889).<br> |
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<br>The company will remain in personal ownership and will continue to run [independently](https://www.google.com/search?kgmid=/m/0cqd_rb).<br> |
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<br>Its senior management, [including chairman](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the [company](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br> |
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<br>Souter Investments, the [private investment](https://www.pinterest.com.au/missionnewenergy/) firm of transportation magnate [Sir Brian](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Souter, [validated](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) it had actually [offered](https://www.crunchbase.com/organization/mission-newenergy) 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 underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities additional afield".<br> |
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<br>[Barnaby](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire, of John Swire, stated his business was devoted to "checking out and buying innovative and practical green industries".<br> |
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<br>He added: "We are delighted to be obtaining Argent Energy, a company which we think can grow and flourish not just within the UK but 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 characteristics and worths that are compatible with our own, and look [forward](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to working with them to maximise Argent Energy's future potential."<br> |
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<br>Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management along with Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) 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> |
