Bankruptcy Sale Features All-New EV Battery-Manufacturing Equipment

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-- Tiger Group and Liquidity Services offer unused assets stored in Belgium and South Korea

SEOUL, South Korea and ANTWERP, Belgium, Feb. 11, 2025 /PRNewswire/ -- On behalf of a secured creditor, Tiger Group and Liquidity Services are accepting offers on a large amount of advanced EV battery manufacturing equipment—brand-new and still in its original crates.

Originally acquired at a cost of approximately $82 million, the equipment is stored in Belgium and South Korea. It comes from Northvolt Group subsidiary Northvolt Ett Expansion AB. The division had been managing construction of an EV battery plant that was suspended as part of its parent company's rescoping of Swedish operations.

"This advanced, high-quality equipment—much of it manufactured in South Korea by SLA, WuXi, Creative and Innovative Systems [CIS] and Sejong Technology—is in perfect condition," said Chad Farrell, Managing Director, Tiger Commercial & Industrial. "We are already receiving strong interest from EV battery manufacturers that are looking to build new plants as well as owners and operators of existing facilities."

"This sale represents an extraordinary opportunity for companies in Europe, Asia and beyond," added Nick Taylor, SVP & Managing Director of the Capital Assets Group at Liquidity Services. "It is rare to see this much brand-new EV manufacturing equipment become available at liquidation values."

The available equipment includes:

• Cathode and anode notching and slitting machines
• Powder blower
• Waste collectors
• WuXi stacking machine
• Formation and aging temperature-controlled warehouse equipment, including pre-charge and monitoring chambers, stacker crane and racking
• End-of-line cell-cleaning, visual inspection and packaging equipment
• Aging tray cleaner, formation tray cleaner
• Water tanks
• Floor lifters
• Roller conveyors
• Boxed-cell warehouse equipment, including stacker crane and racking
• Walkways, stairs and framework

The liquidation is one of many to occur in the green/sustainable sector in recent months, Farrell noted. "It is not only electric vehicle and battery companies, but also 'green' packaging makers, experimental food producers, solar specialists and others," he explained.

To arrange an inspection or obtain other information, email [email protected] or call +1 (805) 497-4999.

For asset photos, descriptions, and other information, visit SoldTiger.com or AllSurplus.com.

About Tiger Group
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and provide capital or convert assets to capital quickly and decisively. Tiger maintains offices in New York, Los Angeles, Boston, Chicago, Houston and Toronto.

About Liquidity Services
Liquidity Services operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

Media Contacts: At Tiger Group, Maria Hoang, +1 (805) 497-4999 [email protected]. At Jaffe Communications, Elisa Krantz, +1 (908) 789-0700, [email protected].

SOURCE Tiger Group