Heritage Global Partners to Host Exclusive Online Auction of Solar Assets by Order of US Bankruptcy Court

Rhea-AI Summary

Heritage Global Partners, a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), will conduct an online auction of solar assets featuring ~8.8MW of solar panels, trucks, trailers, hardware, racking, inverters, and intellectual property. The auction will run from April 30 to May 1, 2024, presenting a unique opportunity for buyers across various industries. Assets originate from Sunworks, Inc., Solcius, , Commercial Solar Energy Inc., and Sunworks United Inc.

Positive

• Rare opportunity for buyers to acquire quality solar panels and equipment at competitive prices.

• Significant interest expected from participants in the renewable energy sector.

• Diverse range of assets available, including solar panels, trucks, hardware, and inverters.

Negative

• None.

Auction kicks off tomorrow, April 30^th and closes May 1^st

https://www.hgpauction.com/auctions/123968/sunworks-bk/

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 selected to conduct an online auction of solar assets featuring ~8.8MW of solar panels, trucks, trailers, hardware, racking, inverters, intellectual property, and more, presenting an exceptional opportunity for prospective buyers.

Scheduled to commence on April 30, and conclude on May 1, 2024, starting at 11am CDT, bidders can participate through the auction website.

The assets on offer originate from Sunworks, Inc. (Case # 24-10215), Solcius, LLC (Case # 24-10216), Commercial Solar Energy Inc. (Case # 24-10217), and Sunworks United Inc. (Case # 24-10218). The assets to be auctioned present an exceptional opportunity for buyers and renewable energy companies seeking inventory and hardware, construction firms in need of equipment, companies interested in acquiring intellectual property, as well as entrepreneurs and individual consumers looking to enter or scale operations in the renewable energy sector.

Highlights of the Equipment Available at the Auction Include:

• ~8.8 MW of Solar Panels: Featuring renowned brands like Hanwha QCells, ZNShine, QPeak, APTOS, Heliene, VSUN, Panasonic, Canadian Solar and others
• Trucks, Trailers, Forklifts & More: Offering Ford, Chevrolet, and Nissan trucks and Vans, as well as a range of Nissan and Toyota forklifts
• Inverters & Batteries: A range of brands like SolarEdge, Yaskawa Solectria, SMA, Fronius, Enphase and Tesla

David Barkoff, Senior Vice President at Heritage Global Partners, commented on the upcoming auction, stating, "This auction offers a rare chance for buyers across industries to secure quality solar panels and equipment at competitive prices. We have an enormous amount of mostly brand new equipment available, including solar panels, trucks, hardware and inverters -- this auction is an opportunity not to be missed. We're thrilled to facilitate this event and anticipate significant interest from participants in the renewable energy sector.”

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/20240429198669/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 Partners

FAQ

What assets will be available in the online auction hosted by Heritage Global Partners?

The auction will feature ~8.8MW of solar panels, trucks, trailers, hardware, racking, inverters, and intellectual property.

When will the auction of solar assets by Heritage Global Partners commence?

The auction will start on April 30 and conclude on May 1, 2024.

Which companies do the assets in the auction originate from?

Assets in the auction originate from Sunworks, Inc., Solcius, , Commercial Solar Energy Inc., and Sunworks United Inc.