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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 Energy](https://www.bloomberg.com/profile/company/MNELF:US) offered<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of [massive industrial](https://www.zoominfo.com/c/mission-newenergy/346542889) [production](https://www.pinterest.com.au/missionnewenergy/) of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in the UK, has actually been bought by a green investment [company](https://www.bloomberg.com/profile/company/MNELF:US).<br> |
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<br>Argent, based near Motherwell, was offered to a [subsidiary](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of [London-based John](https://stocktwits.com/symbol/MNEL) Swire & Sons for a sum.<br> |
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<br>Argent makes green road fuel by recycling wastes and residues such as used [cooking oil](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and tallow from the meat industry.<br> |
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<br>The company will remain in personal ownership and will continue to run independently.<br> |
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<br>Its senior management, including chairman Andy Hunter, handling director Jim Walker and [monetary director](https://www.bloomberg.com/profile/company/MNELF:US) Jim Boyd are to stay with the business.<br> |
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<br>Souter Investments, the personal financial investment business of [transport tycoon](https://stocktwits.com/symbol/MNEL) Sir Brian Souter, [confirmed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) it had [offered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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.bloomberg.com/profile/company/MNELF:US) market position, [including](https://www.zoominfo.com/c/mission-newenergy/346542889) there was now a chance "to take Argent's abilities additional afield".<br> |
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<br>[Barnaby](https://www.bloomberg.com/profile/company/MNELF:US) Swire, of John Swire, stated his business was devoted to "checking out and buying innovative and practical green industries".<br> |
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<br>He included: "We are delighted to be obtaining 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 are familiar.<br> |
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<br>"John Swire & Sons Ltd sees in Argent Energy's [employees](https://forest500.org/rankings/companies/mission-newenergy-limited) a mix of [qualities](https://stocktwits.com/symbol/MNEL) and worths that are suitable with our own, and look forward to working with them to [maximise Argent](https://www.pinterest.com.au/missionnewenergy/) [Energy's future](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) potential."<br> |
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<br>Argent was developed in 2001. In 2009 it was purchased 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 as much as 50 million litres of [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) 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> |
