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<br>Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy offered<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a [pioneer](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of large-scale industrial production of [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) in the UK, has actually been purchased by a green financial [investment company](https://www.crunchbase.com/organization/mission-newenergy).<br>
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<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.google.com/search?kgmid=/m/0cqd_rb) Swire & Sons for a [concealed](https://forest500.org/rankings/companies/mission-newenergy-limited) sum.<br>
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<br>Argent makes green road fuel by recycling wastes and residues such as [utilized cooking](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) oil and tallow from the meat market.<br>
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<br>The [company](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) will stay in personal ownership and will continue to run .<br>
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<br>Its senior management, [including chairman](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Andy Hunter, [handling director](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Jim Walker and financial director Jim Boyd are to stay with the company.<br>
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<br>Souter Investments, the [personal financial](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [investment](https://www.zoominfo.com/c/mission-newenergy/346542889) company of [transportation tycoon](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Sir Brian Souter, verified it had actually [offered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) its 37% stake in Argent.<br>
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<br>['Future](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) capacity'<br>
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<br>Mr Walker stated the financial [investment](https://www.zoominfo.com/c/mission-newenergy/346542889) by John Swire underlined Argent's strong market position, including there was now a chance "to take Argent's abilities additional afield".<br>
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<br>Barnaby Swire, of John Swire, said his company was committed to "exploring and buying ingenious and practical green industries".<br>
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<br>He added: "We are pleased to be obtaining Argent Energy, a business which our company believe can grow and prosper 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://stocktwits.com/symbol/MNEL) & Sons Ltd sees in [Argent Energy's](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) staff members a mix of qualities and worths that are [suitable](https://stocktwits.com/symbol/MNEL) with our own, and anticipate dealing with them to maximise 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 along with Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) 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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