Swedish auction house PS Auction has been tasked with selling out of the bankruptcy estate of Northvolt Ett Expansion. The equipment, which is primarily unused and has a total purchase price of approximately 300 million euros, equivalent to around 2.2 billion kroner, is being sold via online auctions and closed bidding rounds. TBAuctions writes in a press release.
TBAuctions owns both PS Auction and the Dutch auction house Troostwijk Auctions, which are collaborating on the sale to reach the European and global market.
– Sweden's most publicized industrial bankruptcy now provides an opportunity for large-scale recycling. With some of the most advanced technology and unique equipment, it marks an important moment for the industry and also contributes to the circular economy by giving this equipment a new lease of life, says Tom Christenson, CEO of TBAuctions.
The auction is being conducted on behalf of receiver Jonas Premfors from the law firm DLA Piper.
– As receiver, our primary goal is to realize the assets as advantageously as possible for the creditors. The collaboration with PS Auction ensures a structured and efficient process, says Jonas Premfors, receiver at DLA Piper.
The equipment includes production equipment and components for various phases of battery production – from pumps and piping systems to electrical cabinets and transformers. According to PS Auction, most of it has never been unpacked.
Some sales are conducted via closed bidding rounds, especially for complex plants, which require close dialogue with qualified buyers. To facilitate the sale, digital tours with 3D material are offered so that buyers can examine the equipment virtually.
The first auctions began in April and will continue in several rounds over the coming months. The equipment can be viewed via PS Auction, Troostwijk Auctions and on a website with an overview of all assets and sales methods.
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