Poet Awarded Millions by Arbitration Panel
Claims engineering company botched ethanol production system at Iowa plant
Poet, Sioux Falls, SD, has asked a federal judge to confirm a multi-million dollar arbitration award it received from a company that it claims botched an ethanol production system at a plant in Iowa, reports Argus Leader.
The American Arbitration Association held hearings over Poet’s complaint against Andritz Inc., a Georgia-based engineering company.
On April 1, the panel unanimously agreed to award Poet more than $7.5 million, according to court records. Andritz failed to create a system that pre-treated enough biomass at an economically scalable level.