Bankruptcy auction for Northvolt Ett Expansion begins

Equipment worth 300 million EUR to find new owners

PS Auction is now selling off the assets in the bankruptcy estate of Northvolt Ett Expansion. Through exclusive bidding procedures and digital tours, the company hopes to find new owners for the unused equipment, which has a purchase value of approximately 300 million EUR. ”The auction provides a unique behind-the-scenes look at Sweden’s most talked-about industrial project and a rare opportunity for large-scale reuse," says Per Henriksson, CEO of PS Auction.

PS Auction, part of the European group TBAuctions, has been commissioned by bankruptcy trustee Jonas Premfors at the global law firm DLA Piper to carry out the sale of the assets of the Northvolt Ett Expansion. The equipment’s purchase value is estimated at just over 300 million EUR, making this one of the largest bankruptcy auctions in Europe.

– As bankruptcy trustee, our primary interest is to liquidate the assets as advantageously as possible for the creditors. By collaborating with PS Auction, we ensure a structured and efficient process to maximize the outcome for the bankruptcy estate, says Jonas Premfors, bankruptcy trustee at DLA Piper.

Large-scale reuse

The auctions include high-tech production equipment and components for various stages of the battery manufacturing process, ranging from pumps and piping systems to electrical cabinets and transformers. Most of the equipment is unused and has never even been unpacked, offering potential buyers a unique opportunity to optimize their production through reuse.

In parallel with the online auctions, sales are also conducted through bidding procedures. These items are larger and more complex, sold as complete production lines. This method involves more active outreach to qualified buyers worldwide and allows for in-depth discussions with a select group of interested parties.

To facilitate the process, PS Auction is using specially developed 3D material for digital walkthroughs, allowing interested buyers to navigate the factory environment and closely examine the equipment.

– The auction provides a unique behind-the-scenes look at Sweden’s most talked-about industrial project and a rare opportunity for large-scale reuse. These are significant assets for companies that are seriously investing in vehicle electrification, says Per Henriksson, CEO of PS Auction.

First auction starts in april

The bankruptcy auction is extensive in both value and volume and will due to its size be conducted in several stages over months to come. The first auctions and bidding processes will begin in early April and continue on an ongoing basis.

Interested parties can view the available items on PS Auction’s dedicated bankruptcy auction website: https://nvx.psauction.com.