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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.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of massive commercial production of in the UK, has been [purchased](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) by a green investment firm.<br> |
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<br>Argent, based near Motherwell, was [offered](https://www.google.com/search?kgmid=/m/0cqd_rb) to a [subsidiary](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for an [undisclosed](https://www.google.com/search?kgmid=/m/0cqd_rb) 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.crunchbase.com/organization/mission-newenergy) and residues such as [utilized cooking](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) oil and tallow from the [meat market](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br> |
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<br>The firm will remain in private ownership and will continue to run independently.<br> |
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<br>Its senior management, [including chairman](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Andy Hunter, [managing director](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Jim Walker and [monetary director](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Jim Boyd are to stay with the company.<br> |
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<br>Souter Investments, the private investment company of transport magnate Sir Brian Souter, validated it had actually offered its 37% stake in Argent.<br> |
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<br>'Future capacity'<br> |
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<br>Mr Walker stated the investment by John Swire underlined Argent's strong market position, adding there was now a chance "to take Argent's abilities further afield".<br> |
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<br>[Barnaby](https://www.businessnews.com.au/Company/Mission-NewEnergy) Swire, of John Swire, said his [company](https://www.businessnews.com.au/Company/Mission-NewEnergy) was committed to "exploring and investing in innovative and practical green industries".<br> |
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<br>He included: "We are delighted to be obtaining Argent Energy, a company which our company believe can grow and succeed not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies recognize.<br> |
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<br>"[John Swire](https://www.businessnews.com.au/Company/Mission-NewEnergy) & Sons Ltd sees in Argent Energy's [employees](https://www.crunchbase.com/organization/mission-newenergy) a mix of characteristics and values that work with our own, and [anticipate](https://www.bloomberg.com/profile/company/MNELF:US) working with them to increase Argent Energy's [future capacity](https://www.businessnews.com.au/Company/Mission-NewEnergy)."<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 approximately 50 million litres of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) 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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