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<br>[Pioneering biodiesel](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) [manufacturer Argent](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of [massive commercial](https://www.bloomberg.com/profile/company/MNELF:US) production of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) in the UK, has been purchased by a [green investment](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) firm.<br> |
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<br>Argent, based near Motherwell, was [offered](https://stocktwits.com/symbol/MNEL) to a subsidiary of London-based John Swire & Sons for a [concealed](https://www.businessnews.com.au/Company/Mission-NewEnergy) sum.<br> |
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<br>Argent makes green road fuel by [recycling wastes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and residues such as used and tallow from the meat industry.<br> |
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<br>The firm will remain in private ownership and will continue to run [individually](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).<br> |
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<br>Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and [financial director](https://www.google.com/search?kgmid=/m/0cqd_rb) Jim Boyd are to remain with the [business](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br> |
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<br>Souter Investments, the personal investment firm of transportation magnate Sir Brian Souter, [confirmed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) it had sold its 37% stake in Argent.<br> |
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<br>'Future capacity'<br> |
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<br>Mr Walker said the investment by [John Swire](https://www.google.com/search?kgmid=/m/0cqd_rb) [underlined Argent's](https://www.businessnews.com.au/Company/Mission-NewEnergy) strong market position, including there was now a chance "to take Argent's skills more afield".<br> |
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<br>Barnaby Swire, of John Swire, said his company was [committed](https://www.crunchbase.com/organization/mission-newenergy) to "exploring and buying innovative and practical green markets".<br> |
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<br>He included: "We are happy to be getting Argent Energy, a company which our company believe can grow and flourish not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br> |
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<br>"[John Swire](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) & Sons Ltd sees in [Argent Energy's](https://www.crunchbase.com/organization/mission-newenergy) [workers](https://www.pinterest.com.au/missionnewenergy/) a mix of qualities and values that work with our own, and [anticipate](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) working with them to increase Argent Energy's future [capacity](https://www.investing.com/equities/mission-newenergy-ltd-company-profile)."<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 capacity to produce up to 50 million litres of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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> |
