CONCORD, N.C. (WBTV) - A Concord-based battery energy storage provider is auctioning off discounted equipment next week after the company filed for bankruptcy in August.
Alevo equipment will be auctioned off online from 8 a.m. Tuesday to 10 a.m. Wednesday.
The Branford Group says the auction will feature the following items:
- Anode & Cathode Mixing & Coating Lines
- Cell Assembly, Formation
- SS Tanks
- 500 Vidmars
- New Combilift & Forklifts
- (4) New Caterpillar Generators
- Massive Inventory & Finished Goods
- Facility & Support Equipment
"The Branford Group, a global industrial auction company, will conduct a substantial online auction, in conjunction with Hilco Industrial & Joseph Finn Auctioneers, by order of the U.S. Bankruptcy Court Middle District of North Carolina (Winston-Salem), to sell the surplus assets of Alevo," the company says.
The vice president of The Branford Group says this the community can purchase like-new items at a "huge discount."
"The online auction for Alevo represents an unprecedented, multi-million dollar offering of late model battery manufacturing lines, chemical processing equipment, facility support and a massive amount of inventory, " James Gardner, senior vice president and partner at The Branford Group, says. "The majority of the equipment was installed around 2016 and was never used in production, providing a real opportunity for any buyer."
Alevo filed for Chapter 11 bankruptcy and closed operations at their facility in Concord. The company made the announcement on their website in August.
Alevo said they had significant production challenges and insufficient revenue.
Those interested in the auction can find bidding information here.