Liquidity Services Completes Sale of Hydrocracker Reactor in Gwangyang, South Korea on AllSurplus.com

Rhea-AI Summary

Liquidity Services (NASDAQ:LQDT) has sold a high-pressure hydrocracker reactor to a major U.S. renewable diesel manufacturer, concluding the sale in December 2022. The reactor, stored at the Port of Gwangyang, South Korea, was fabricated in 2010 by Kobe Steel Japan and will enable the buyer to initiate their project 12-18 months sooner. This reactor will help produce various fuels including diesel and jet fuel from renewable sources. The sale also includes ancillary equipment and related technical data. A similar reactor is still available for sale through AllSurplus.com.

Positive

• Successful sale of a high-pressure hydrocracker reactor, enhancing Liquidity Services' asset turnover.
• The sale allows the buyer to expedite their renewable fuel project by 12-18 months.

Negative

• None.

Refinery Asset Sold to Major U.S. Renewable Energy Manufacturer

BETHESDA, Md., Jan. 20, 2023 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, has successfully completed the sale of one of two unused, high-pressure hydrocracker reactors fabricated in 2010 by Kobe Steel Japan. The reactor, which has been stored under nitrogen purge at the Port of Gwangyang in South Korea, was sold through AllSurplus.com, Liquidity Services’ online marketplace for surplus business assets. The sale to a major renewable diesel manufacturer based in the United States was concluded in December 2022.

“Our client is very pleased to have been able to locate and purchase this unit at such a great price,” said Liquidity Services’ Vice President, Business Development Trey Valentino. “Delivery of the hydrocracker unit will dramatically cut the amount of time they would otherwise have waited for a new factory order by 12-18 months, thus enabling the company to get their project underway more quickly.”

This type of reactor is used to produce salable products such as jet fuel, diesel fuel, gasoline, kerosene, naphtha, and biodiesel in a traditional oil refinery or in renewable biodiesel applications. Operating at high pressure and temperature, the reactor can also produce diesel and jet fuel from plant-based oils and waste cooking oils, making it a greener alternative to other fuels.

The completed sale includes ancillary equipment, available data books, drawings, and technical data related to the assets. A similar second unit is available for sale on AllSurplus.com providing the same opportunity for a buyer to deploy quickly and generate fuel without delay.

“This reactor makes a powerful addition to our buyer’s renewable energy program. It is very satisfying to know that this purchase saved them valuable time and resources,” said Liquidity Services’ SVP, Managing Director Capital Assets Nick Taylor. 

Hydrocracker Reactor Features

SOLD Unit 1 - 12’ inside diameter X 80’ t-t, 2755 psig @ 850F, chrome steel and vanadium with stainless weld overlay, built 2010 by Kobelco Steel Japan, ASME code and NB registered. 

AVAILABLE Unit 2 – 12’ inside diameter X 57’ t-t, 2755 psig @ 850F, 2 1/4Cr-1Mo-V steel w/TP317L stainless steel weld overlay, built 2010 by Kobelco Steel Japan, ASME code and NB registered. 

For further information, go to AllSurplus.com or contact Trey Valentino at (832) 722-0288 or Trey.Valentino@liquidityservices.com.

About AllSurplus 
AllSurplus is the world’s leading marketplace for surplus business assets, ranging from heavy equipment to transportation assets and industrial machinery. AllSurplus is the smartest, fastest way to sell inventory and equipment as sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. AllSurplus is powered by one of the most experienced and trusted companies in the surplus industry, Liquidity Services (NASDAQ:LQDT), which has supported millions of customers across the globe. AllSurplus buyers have direct access to all the surplus assets across Liquidity Services’ network of marketplaces in one centralized location. 

About Liquidity Services, Inc. 
Liquidity Services (NASDAQ:LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than 4.9 million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

Media Contact:
Nancy Sloane 
Director, Brand and Integrated Marketing Communications 
Liquidity Services 
Nancy.Sloane@liquidityservices.com 
(202) 558-6244

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/168d1e48-6aef-4af4-8887-133554e2f09a

FAQ

What has Liquidity Services done recently regarding a hydrocracker reactor?

Liquidity Services has sold a high-pressure hydrocracker reactor to a U.S. renewable diesel manufacturer, concluded in December 2022.

How will the sale of the hydrocracker reactor affect the buyer?

The sale will enable the buyer to start their renewable fuel project 12-18 months earlier than if they had to order a new factory.

What is the significance of the hydrocracker reactor sold by Liquidity Services?

The reactor is designed to produce renewable fuels like diesel and jet fuel, contributing to greener energy options.

Where was the hydrocracker reactor stored before the sale?

The reactor was stored under nitrogen purge at the Port of Gwangyang in South Korea.

Is there another hydrocracker reactor available for sale?

Yes, a similar second unit is available for sale through AllSurplus.com.