Savoy Sues University Over $10M Carbon Capture Deal

Law360, New York (January 7, 2010, 2:04 PM EST) -- Savoy Energy LLC has launched a suit against the New Mexico Institute of Mining and Technology, claiming the university fraudulently backed out of a $10 million contract for the energy company to operate a Utah gas field as part of a government-sponsored carbon sequestration project.

The company filed a complaint on Wednesday in the U.S. District Court for the District of Utah, alleging NM Tech used Savoy as a “stop-gap contractor” in order to maintain funding from the U.S. Department of Energy, which awarded the project...
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