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Pioneering [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producer Argent Energy sold
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23 July 2013
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Argent Energy, a [pioneer](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of massive commercial [production](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) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been bought by a green investment firm.
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Argent, based near Motherwell, was sold to a [subsidiary](https://www.google.com/search?kgmid=/m/0cqd_rb) of [London-based John](https://pitchbook.com/profiles/company/51278-86) Swire & Sons for a sum.
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Argent makes [green roadway](https://www.bloomberg.com/profile/company/MNELF:US) fuel by recycling wastes and [residues](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) such as [utilized cooking](https://www.businessnews.com.au/Company/Mission-NewEnergy) oil and tallow from the meat industry.
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The firm will remain in [private ownership](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and will [continue](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) to run individually.
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Its senior management, [including chairman](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the company.
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Souter Investments, the [private investment](https://www.pinterest.com.au/missionnewenergy/) business of [transportation tycoon](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Sir Brian Souter, confirmed it had sold its 37% stake in Argent.
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['Future](https://www.google.com/search?kgmid=/m/0cqd_rb) potential'
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Mr Walker said the investment by John Swire highlighted [Argent's strong](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) market position, adding there was now an opportunity "to take Argent's abilities additional afield".
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Barnaby Swire, of John Swire, said his company was devoted to "exploring and purchasing innovative and practical green markets".
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He included: "We are delighted to be acquiring Argent Energy, a business which we believe can grow and succeed not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies recognize.
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"John Swire & Sons Ltd sees in [Argent Energy's](https://www.businessnews.com.au/Company/Mission-NewEnergy) [workers](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a mix of [attributes](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) and values that work with our own, and anticipate working with them to maximise Argent [Energy's](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) future potential."
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Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management together with Souter Investments.
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Its plant at Newarthill, near Motherwell, has the capacity 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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