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<br>Pioneering [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) [manufacturer Argent](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a leader of [large-scale industrial](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [production](https://forest500.org/rankings/companies/mission-newenergy-limited) of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the UK, has actually been [purchased](https://stocktwits.com/symbol/MNEL) by a [green investment](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) firm.<br>
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<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) of London-based John Swire & Sons for a concealed sum.<br>
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<br>Argent makes green road fuel by [recycling wastes](https://stocktwits.com/symbol/MNEL) and residues such as [utilized cooking](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) oil and tallow from the meat industry.<br>
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<br>The company will remain in [private ownership](https://stocktwits.com/symbol/MNEL) and will continue to run individually.<br>
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<br>Its senior management, including chairman Andy Hunter, [managing director](https://www.zoominfo.com/c/mission-newenergy/346542889) and [financial director](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Jim Boyd are to remain with the [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
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<br>Souter Investments, the personal investment firm of transport tycoon Sir Brian Souter, [validated](https://forest500.org/rankings/companies/mission-newenergy-limited) it had sold its 37% stake in Argent.<br>
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<br>'Future potential'<br>
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<br>Mr Walker said the financial investment by John Swire underlined [Argent's strong](https://www.pinterest.com.au/missionnewenergy/) market position, adding there was now an opportunity "to take Argent's skills additional afield".<br>
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<br>Barnaby Swire, of John Swire, stated his business was committed to "checking out and buying ingenious and practical green industries".<br>
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<br>He included: "We are happy to be obtaining Argent Energy, a business which we think can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.<br>
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<br>"[John Swire](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) & Sons Ltd sees in [Argent Energy's](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [workers](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) a mix of [characteristics](https://stocktwits.com/symbol/MNEL) and worths that are suitable with our own, and anticipate working with them to increase Argent Energy's future capacity."<br>
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<br>Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management along 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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