Online auction to offer like-new Alevo equipment at 'huge discount'

Online auction to offer like-new Alevo equipment at 'huge discount'
(Credit: The Branford Group)
(Credit: The Branford Group)

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.

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Alevo said they had significant production challenges and insufficient revenue.

Those interested in the auction can find bidding information here.

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