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Add Pioneering Biodiesel Producer Argent Energy Sold

Barb Ferrara 2025-01-08 22:33:02 -07:00
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<br>Pioneering [biodiesel](https://www.missionnewenergy.com/) [manufacturer Argent](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Energy offered<br>
<br>23 July 2013<br>
<br>Argent Energy, a leader of massive commercial production of biodiesel in the UK, has actually been purchased by a green financial investment business.<br>
<br>Argent, based near Motherwell, was [offered](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to a subsidiary of London-based John Swire & Sons for an undisclosed amount.<br>
<br>Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.<br>
<br>The firm will remain in personal ownership and will continue to run separately.<br>
<br>Its senior management, including chairman Andy Hunter, [handling director](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Jim Walker and Jim Boyd are to remain with the business.<br>
<br>Souter Investments, the [personal investment](https://forest500.org/rankings/companies/mission-newenergy-limited) firm of transportation tycoon [Sir Brian](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) Souter, confirmed it had actually sold its 37% stake in Argent.<br>
<br>'Future potential'<br>
<br>Mr Walker said the financial investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities more afield".<br>
<br>Barnaby Swire, of John Swire, said his business was committed to "exploring and investing in innovative and practical green industries".<br>
<br>He included: "We are happy to be getting Argent Energy, a business 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 business recognize.<br>
<br>"John Swire & Sons Ltd sees in Argent Energy's employees a mix of characteristics and values that are compatible with our own, and eagerly anticipate dealing with them to maximise Argent Energy's future potential."<br>
<br>Argent was established in 2001. In 2009 it was bought by a consortium which included senior management along with Souter Investments.<br>
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) 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>