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Poet Awarded Millions by Arbitration Panel

Claims engineering company botched ethanol production system at Iowa plant

File photo
File photo

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.

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