Bankruptcy Auction for Northvolt Ett Expansion Begins – Equipment Worth 300 Million EUR to find New Owners

Photo: PS Auction

The brands of TBAuctions, are now selling off the assets in the bankruptcy estate of Northvolt Ett Expansion. Through exclusive bidding procedures and digital tours, the company aims to find new owners for the unused equipment, which has a purchase value of approximately 300 million euros.

”Sweden’s most talked-about industrial bankruptcy now offers a rare opportunity for large-scale reuse. With some of the most cutting edge technology and unique assets, it not only marks a significant moment for the industry but also contributes to the circular economy by giving these business equipment a second life," says Tom Christenson, CEO of TBAuctions.

One of Europe’s largest bankruptcy auctions

PS Auction, part of the European TBAuctions group, has been commissioned by the bankruptcy trustee Jonas Premfors at the global law firm DLA Piper to carry out the sale of the assets of the Northvolt Ett Expansion. To expand into the European and global markets, PS Auction collaborates with Troostwijk Auctions and other brands within the TBAuctions group. The equipment’s purchase value is estimated at approximately 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.

High-tech production equipment   

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 access cutting-edge equipment and mitigating the risk of these assets going to waste.

In parallel with the online auctions, some sales will also be conducted through private bidding procedures. These items are generally  more complex and 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.

Large-scale reuse

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.

In addition, the CEO of TBAuctions, Tom Christenson, adds:

“This auction not only reflects the scale and complexity of Europe’s industrial landscape, but also our core belief in giving high-value assets a second life. By facilitating large-scale reuse through digital innovation, PS Auction and the TBAuctions group are helping industries recover value, reduce waste, and move closer to a truly circular economy.”

First Auction Starts in April

The bankruptcy auction is extensive in both value and volume and will be conducted in several stages over several months due to its size. 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 and Troostwijk Auctions, as well as a dedicated website bringing together all the assets, 3-D digital tours, and private treaty sales at https://nvx.psauction.com.

ABOUT TBAuctions

TBAuctions is Europe’s leading multi-brand (Klaravik, Troostwijk Auctions, Surplex, Auksjonen, PS Auction, British Medical Auctions, Vavato, HT Auctions & Valuations, and Auktionshuset dab), digital auction platform for used B2B goods with 1,200+ team members across the Nordics, Benelux+UK, and Continental Europe. We believe that “Everything Has Value” and we make auctioning more effective and efficient by multiplying the power of people, technology, and data. TBAuctions’ online intelligent auctions make this happen through a proprietary platform that uniquely connects bidders from multiple storefronts to seamlessly engage with a single, unified auction. TBA brings sustainable trade to a higher level. Sourcing locally and selling globally, millions of products are auctioned every year.  Funds managed by Castik Capital are the majority owners of TBAuctions, with Summa Equity as the minority shareholder.

Press contact

For questions or requests, please contact Liina Liblik at:

l.liblik@tbauctions.com

+31643927995.