Heritage Global Partners to Conduct Major Online Auction of Electriq Power’s Assets

Rhea-AI Summary

Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has been appointed by the U.S. Bankruptcy Court to conduct an online auction of Electriq Power's assets (Case # 9:24-bk-15235). The auction features over $18 million in smart energy storage inventory, comprising more than 1,000 lots of brand-new equipment.

The sale includes lithium-ion batteries, inverters, solar panels, and other new in-box smart energy products. The auction targets users, dealers, installers, integrators, and technical professionals in the alternative energy sector. Online bidding opens on March 26, 2025 and closes on March 27, 2025 at 8:00 AM PDT.

Positive

• Secured major bankruptcy court appointment for asset liquidation
• Large-scale auction of $18M in valuable energy storage assets
• Potential for significant fee revenue from high-value auction

Negative

• None.

Over $18M in Smart Energy Storage Inventory, Including Batteries, Inverters & Solar Panels

More than 1,000 Lots Available

SAN DIEGO--(BUSINESS WIRE)-- Heritage Global Partners (“HGP”), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL) and a worldwide leader in asset advisory and auction services, has been appointed by the U.S. Bankruptcy Court to conduct an online auction of assets from Electriq Power (Case # 9:24-bk-15235), a prominent smart energy storage provider. This auction presents a unique opportunity for businesses and buyers in the alternative energy sector to acquire high-quality equipment at market-driven values. With over $18 million in inventory, the sale features more than 1,000 lots of brand-new solar panels, batteries, inverters, and related equipment.

Auction Highlights:

• Product Categories: The auction includes lithium-ion batteries, inverters, solar panels, and a host of other new in-box smart energy products.
• Ideal for: This auction is for everyone. Users, dealers, installers, integrators, and technical professionals seeking premium alternative energy products.

David Barkoff, Senior Vice President at HGP commented, "This sale is a rare chance for buyers to bid on thousands of brand-new, in-box products. The sheer volume and quality of the assets available is staggering. This will surely be an exciting event.”

Auction Details:

• Online Bidding Opens: March 26, 2025
• Online Bidding Closes: March 27, 2025, starting at 8:00 AM PDT
• Registration and Catalog: Interested parties can view the catalog and register at HGP’s Auction Catalog.

This auction highlights HGP’s expertise in providing liquidity solutions for surplus and distressed assets across industries while delivering seamless monetization strategies that maximize value for both sellers and buyers.

About Heritage Global Partners, Inc. (“HGP”)
HGP is a subsidiary of Heritage Global Inc. (NASDAQ: HGBL). HGP operates under the Industrial Assets business unit and is a full-service auction, liquidation and asset advisory firm which holds a prominent spot in the industrial sectors including Aerospace, Automotive, Aviation, Biotech, Broadcast & Postproduction, Chemical, Electronics Manufacturing, Energy, Food & Beverage, Heavy Construction, Metalworking, Oil & Gas, Pharmaceutical, Plastics, Printing, Real estate, Semiconductor, Solar, Textile & Woodworking, and others. HGP conducts 150-200 auction projects per year, globally.

About Heritage Global Inc. (“HG”)
Heritage Global Inc. (NASDAQ: HGBL) values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, and charged-off account receivable portfolios through its two business units: Industrial Assets and Financial Assets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250312598481/en/

David Barkoff

650/759.2242

dbarkoff@hginc.com



Investor Relations:

John Nesbett/Jennifer Belodeau

IMS Investor Relations

203/972.9200

InvestorRelations@HGinc.com

Source: Heritage Global Inc.

FAQ

What is the total value of assets being auctioned from Electriq Power through HGBL?

The auction features over $18 million in smart energy storage inventory, including more than 1,000 lots of brand-new equipment.

When does the HGBL-managed Electriq Power asset auction take place?

The online auction opens on March 26, 2025, and closes on March 27, 2025, at 8:00 AM PDT.

What types of energy equipment are available in the HGBL Electriq Power auction?

The auction includes brand-new lithium-ion batteries, inverters, solar panels, and other smart energy products.

Who can participate in the Electriq Power bankruptcy auction managed by HGBL?

The auction is open to all buyers, including users, dealers, installers, integrators, and technical professionals in the alternative energy sector.