Update 'Pioneering Biodiesel Producer Argent Energy Sold'

Pioneering-Biodiesel-Producer-Argent-Energy-Sold.md

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+<br>[Pioneering biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [producer Argent](https://stocktwits.com/symbol/MNEL) Energy offered<br>
+<br>23 July 2013<br>
+<br>Argent Energy, a pioneer of  production of biodiesel in the UK, has been purchased by a green financial [investment](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) business.<br>
+<br>Argent, based near Motherwell, was [offered](https://www.pinterest.com.au/missionnewenergy/) to a subsidiary of [London-based John](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Swire & Sons for an [undisclosed](https://www.bloomberg.com/profile/company/MNELF:US) amount.<br>
+<br>Argent makes green roadway fuel by recycling wastes and residues such as used [cooking oil](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) and tallow from the meat industry.<br>
+<br>The [company](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) will remain in private ownership and will continue to run individually.<br>
+<br>Its senior management, including chairman Andy Hunter, [managing director](https://forest500.org/rankings/companies/mission-newenergy-limited) Jim Walker and [financial director](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) Jim Boyd are to stay with the [business](https://www.pinterest.com.au/missionnewenergy/).<br>
+<br>Souter Investments, the [personal financial](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) investment company of [transport magnate](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Sir Brian Souter, confirmed it had offered its 37% stake in Argent.<br>
+<br>'Future capacity'<br>
+<br>Mr Walker said the investment by John Swire underlined [Argent's strong](https://www.businessnews.com.au/Company/Mission-NewEnergy) market position, [including](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) there was now an [opportunity](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) "to take Argent's skills more afield".<br>
+<br>[Barnaby](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire, of John Swire, stated his [business](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) was devoted to "checking out and buying innovative and feasible green industries".<br>
+<br>He included: "We are pleased to be acquiring Argent Energy, a business which we think can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
+<br>"[John Swire](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) & Sons Ltd sees in Argent Energy's employees a mix of [qualities](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and worths that work with our own, and look forward to dealing with them to increase Argent Energy's [future capacity](https://www.google.com/search?kgmid=/m/0cqd_rb)."<br>
+<br>Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.<br>
+<br>Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of biodiesel a year.<br>
+<br>Cooking oil to run buses in trial<br>
+<br>4 November 2011<br>
+<br>Argent Energy<br>
+<br>Souter Investments<br>