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Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) manufacturer Argent Energy offered
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23 July 2013
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Argent Energy, a leader of large-scale business production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has actually been bought by a green investment firm.
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Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a [concealed](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) amount.
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Argent makes green road fuel by recycling wastes and [residues](https://www.bloomberg.com/profile/company/MNELF:US) such as [utilized cooking](https://www.google.com/search?kgmid=/m/0cqd_rb) oil and tallow from the meat industry.
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The [company](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) will remain in [personal ownership](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and will continue to run independently.
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Its senior management, [including chairman](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Andy Hunter, [managing 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](https://www.crunchbase.com/organization/mission-newenergy) Jim Boyd are to stay with the business.
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Souter Investments, the private investment company of transport magnate Sir Brian Souter, [validated](https://stocktwits.com/symbol/MNEL) it had actually sold its 37% stake in Argent.
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'Future capacity'
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Mr Walker said 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](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) strong market position, including there was now an [opportunity](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) "to take Argent's abilities further afield".
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[Barnaby](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire, of John Swire, said his [business](https://www.zoominfo.com/c/mission-newenergy/346542889) was dedicated to "checking out and buying innovative and viable green industries".
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He included: "We are thrilled to be obtaining Argent Energy, a company which our company believe can grow and prosper not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.
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"John Swire & Sons Ltd sees in [Argent Energy's](https://www.bloomberg.com/profile/company/MNELF:US) [workers](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) a mix of and worths that are compatible with our own, and look [forward](https://www.pinterest.com.au/missionnewenergy/) to working with them to [maximise Argent](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Energy's future potential."
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Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management along with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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