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<br>Pioneering [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) [manufacturer Argent](https://www.pinterest.com.au/missionnewenergy/) Energy sold<br>
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<br>23 July 2013<br>
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<br>Argent Energy, a leader of [large-scale business](https://www.crunchbase.com/organization/mission-newenergy) [production](https://forest500.org/rankings/companies/mission-newenergy-limited) of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) in the UK, has actually been [purchased](https://www.crunchbase.com/organization/mission-newenergy) by a [green investment](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) firm.<br>
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<br>Argent, based near Motherwell, was sold to a subsidiary of [London-based John](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Swire & Sons for an undisclosed sum.<br>
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<br>Argent makes [green road](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) fuel by recycling wastes and residues such as [utilized cooking](https://www.google.com/search?kgmid=/m/0cqd_rb) oil and tallow from the meat market.<br>
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<br>The [company](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) will remain in [personal ownership](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) and will continue to run separately.<br>
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<br>Its senior management, [including chairman](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Andy Hunter, [handling director](https://forest500.org/rankings/companies/mission-newenergy-limited) Jim Walker and monetary director Jim Boyd are to stay with the company.<br>
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<br>Souter Investments, the [private financial](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) investment company of Sir Brian Souter, [confirmed](https://www.crunchbase.com/organization/mission-newenergy) it had actually sold its 37% stake in Argent.<br>
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<br>'Future potential'<br>
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<br>Mr Walker said the financial investment by John Swire highlighted [Argent's strong](https://www.crunchbase.com/organization/mission-newenergy) market position, adding there was now an [opportunity](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) "to take Argent's abilities more afield".<br>
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<br>Barnaby Swire, of John Swire, stated his business was committed to "checking out and purchasing innovative and viable green markets".<br>
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<br>He added: "We are delighted to be getting Argent Energy, a company which we think can grow and succeed not just within the UK however also overseas, in particular in Asian markets with which Swire Group business recognize.<br>
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<br>"John Swire & Sons Ltd sees in [Argent Energy's](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) employees a mix of characteristics and worths that are suitable with our own, and eagerly anticipate dealing with them to maximise Argent [Energy's future](https://stocktwits.com/symbol/MNEL) potential."<br>
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<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br>
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 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> |
