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[Pioneering biodiesel](https://stocktwits.com/symbol/MNEL) producer Argent Energy offered
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23 July 2013
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Argent Energy, a pioneer of [large-scale business](https://www.businessnews.com.au/Company/Mission-NewEnergy) [production](https://www.google.com/search?kgmid=/m/0cqd_rb) of [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) in the UK, has been bought by a [green investment](https://stocktwits.com/symbol/MNEL) firm.
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Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed sum.
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Argent makes fuel by [recycling wastes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and residues such as used cooking oil and tallow from the meat industry.
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The company will remain in private ownership and will continue to run [separately](https://www.businessnews.com.au/Company/Mission-NewEnergy).
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Its senior management, consisting of [chairman Andy](https://www.bloomberg.com/profile/company/MNELF:US) Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the business.
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Souter Investments, the private investment firm of transportation magnate Sir Brian Souter, validated it had [offered](https://forest500.org/rankings/companies/mission-newenergy-limited) its 37% stake in Argent.
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['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'
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Mr Walker said the [investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) by [John Swire](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [underlined Argent's](https://pitchbook.com/profiles/company/51278-86) [strong market](https://www.bloomberg.com/profile/company/MNELF:US) position, adding there was now a chance "to take Argent's abilities additional afield".
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Barnaby Swire, of John Swire, said his [business](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) was [committed](https://www.pinterest.com.au/missionnewenergy/) to "exploring and purchasing innovative and practical green industries".
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He added: "We are pleased to be acquiring Argent Energy, a business which we think can grow and succeed not just within the UK but likewise overseas, in specific in Asian markets with which Swire Group business are familiar.
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"John Swire & Sons Ltd sees in [Argent Energy's](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) staff members a mix of [characteristics](https://www.pinterest.com.au/missionnewenergy/) and worths that are compatible with our own, and look [forward](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to [dealing](https://forest500.org/rankings/companies/mission-newenergy-limited) with them to increase Argent Energy's future capacity."
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Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management along with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) a year.
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Cooking oil to run buses in trial
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4 November 2011
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Argent Energy
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Souter Investments
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