Mission NewEnergy Limited

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Founded Date November 2, 1987
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Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel manufacturer Argent Energy sold

23 July 2013

Argent Energy, a pioneer of massive commercial production of biodiesel in the UK, has actually been bought by a green investment firm.

Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.

Argent makes green road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.

The company will remain in private ownership and will continue to run independently.

Its senior management, including chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to stay with the business.

Souter Investments, the personal investment firm of transport tycoon Sir Brian Souter, validated it had actually offered its 37% stake in Argent.

‘Future potential’

Mr Walker stated the investment by John Swire highlighted Argent’s strong market position, adding there was now an opportunity “to take Argent’s abilities further afield”.

Barnaby Swire, of John Swire, said his business was committed to “checking out and purchasing ingenious and viable green markets”.

He added: “We are delighted to be acquiring Argent Energy, a company which we believe can grow and flourish not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.

“John Swire & Sons Ltd sees in Argent Energy’s workers a mix of attributes and values that work with our own, and look forward to dealing with them to maximise Argent Energy’s future capacity.”

Argent was developed in 2001. In 2009 it was purchased by a consortium which included senior management together with Souter Investments.

Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of biodiesel a year.

Cooking oil to run buses in trial

4 November 2011

Argent Energy

Souter Investments