Northvolt Ett was the European battery adventure that never took off. The equipment alone, which is now going up for auction, is believed to be worth 2.2 billion kroner.
Enormous amounts of equipment from Northvolt Ett Expansion's bankruptcy estate are now up for sale. It's happening at a huge bankruptcy auction organized by auction house TBAuctions.
The value of the primarily unused equipment is estimated at around 2.2 billion Danish kroner. However, this cannot match the more than 40 billion kroner that Northvolt invested in its last year.
The sale is being held on behalf of the bankruptcy estate of Northvolt Ett Expansion. The law firm DLA Piper is representing the estate during the bankruptcy proceedings. The purpose of the auction is to raise as much money as possible for the many creditors.
The bankruptcy trustee is Jonas Premfors from DLA Piper. He now wants to get as much money out of the bankruptcy as possible.
– As a trustee, our primary interest is to realize the assets as advantageously as possible for the creditors, it says in a press release .
Advanced battery production equipment for sale
The auctions include high-tech production equipment and various components. There is equipment for different stages in the battery manufacturing process.
It includes a wide selection of machinery and installations. You will find everything from pumps and steering systems to electrical cabinets and transformers at the auction.
Much of the equipment on offer has never been used because Northvolt never went into production. Some of it is even still in its original, unopened packaging from the supplier. This gives buyers a unique opportunity to acquire cutting-edge equipment.
The sale of the equipment takes place in several ways. Some is sold via traditional online auctions. Other parts of the equipment are sold through private tenders.
The tender rounds typically apply to more complex items or entire production lines.
Digital display and focus on recycling
To make the process easier for interested buyers, PS Auction uses specially developed 3D material.
This allows for detailed digital tours of the former production facilities. However, the press release does not state whether it will be possible to view the equipment at the factory before the auction.
Potential buyers can use this technology to virtually navigate around the factory environment. They can examine the specific equipment closely from a distance via computer.
– The auction provides a unique look behind the scenes at Sweden's most talked-about industrial project, says Per Henriksson, director of PS Auction.
"It's also a rare opportunity for large-scale recycling. These are significant assets for companies that are seriously investing in vehicle electrification."
The sale of the advanced battery production equipment from the Northvolt bankruptcy underscores the large and rapid development in electrification and battery technology.
Also, not everyone can survive in an automotive industry that is increasingly pressured by competition.
At Boosted.dk you can learn about what it looked like – like a bombed-out restaurant – when the last Fisker Inc. employees left their workplace because the brand went bankrupt. Read more about it here .
