US GreenHunter, Bioversel dispute biodiesel deal

29 September 2008 22:50  [Source: ICIS news]

HOUSTON (ICIS news)--US biodiesel producer GreenHunter Energy said on Monday that it is in a dispute with a foreign customer over a biodiesel tolling agreement.

GreenHunter did not identify the customer. However, Canadian firm Bioversel, said it had sued GreenHunter in Texas state court. Bioversel alleged that GreenHunter failed to supply it with any biodiesel under the terms of the tolling agreement, which started on 1 June.

As such, Bioversel said it suffered at least $14m (€10m) in damages.

Bioversel also accused GreenHunter of making misleading statements about its production capabilities.

GreenHunter denied that it made any statements that were intended to mislead the public.

GreenHunter also said it denied some of the allegations made by the customer - although it did not specify which ones.

Moreover, GreenHunter said it notified the customer of a force majeure (FM) after Hurricane Ike made landfall on 13 September.

GreenHunter also accused the customer of breach of contract.

($1 = €0.68)

To discuss issues facing the chemical industry go to ICIS connect

By: Al Greenwood
+1 713 525 2653

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly