Southwest Iowa Renewable Energy or SIRE is in the news for suing a Missouri company named Bunge North America for 7 million dollars in damages after there was alleged errors in attempting to sell fuel grade ethanol in Iowa and Nebraska.
Sire contracted with Bunge to market and sell their ethanol in 2020 in return for a monthly fee.
Bunge was successfully marketing the ethanol with a single employee named Jeremy Ragan, but in 2022 Jeremys employment was terminated, and the lawsuit claims the Bunge had inexperienced workers trying to market the ethanol at old or incorrect values. And also adds Bunge failed to submit the correct paperwork in order to sell their Ethanol in California.
The lawsuit alleges that the deficiencies and errors have resulted in SIRE losing profits on, at times, a daily basis … Bunge’s deficient marketing services have cost SIRE at least $7 million dollars between Oct. 1, 2022, through Dec. 31, 2023. SIRE’s damages have continued to accrue daily.”
The lawsuit, filed in the U.S. District Court for the Southern District of Iowa, seeks “at least $7 million,” plus interest, for breach of contract and unjust enrichment.
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