Battery Energy Storage Systems, IP and High-Utility Manufacturing and Testing Equipment Go to Auction on November 7

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Oct 29, 2024, 08:58 ET

Tiger Group sale features more than 150 lots from grid-edge tech startup Veloce Energy

LOVELAND, Colo., Oct. 29, 2024 /PRNewswire/ -- In an assignment for the benefit of creditors, Tiger Group will auction assets and intellectual property from grid-edge tech startup Veloce Energy on November 7.

Tiger Group's November 7 auction includes assets from Veloce Energy's Loveland facility-as well as IP that includes trademarks, logos and two provisional patents.

The online auction features more than 150 lots of machinery and equipment and other assets.

"Veloce Energy is known for creating Fastgrid™—a platform geared toward more efficient deployment and operation of infrastructure such as EV charging stations, commercial solar installations and industrial storage facilities," said Chad Farrell, Managing Director of Tiger Commercial & Industrial. "The company was part of the 'grid edge' tech movement, which focuses on modernizing the grid and accelerating the transition away from fossil fuels."

The timed, online auction of assets from Veloce Energy's Loveland facility—as well as IP that includes trademarks, logos and two provisional patents—closes on Thursday, November 7, at 10:30 a.m. (MT). Bidding opens on Thursday, October 31, at 10:30 a.m. (MT) at SoldTiger.com.

The online auction features more than 150 lots of machinery and equipment and other assets. They include:

VPort Battery Energy Storage Systems (BESS)
Welders
Oscilloscopes
Oztec inverters
Test equipment
Transformers and power supplies
Forklifts
Tools
Parts

"This plant is extremely clean, with all tools and test equipment—including pieces by leading brands such as Agilent and Oztec—being late-model and in good condition," Farrell said.

Companies in a wide array of sectors, not just the grid-edge space, could benefit from the manufacturing, assembly and testing equipment available in the sale, he added. "It's an excellent buying opportunity."

The online auction is the latest Tiger Group asset-disposition involving "green," clean energy and/or EV-related companies. The list includes Romeo Power, AquaHydrex, and Lightning eMotors, to name a few.

"We're seeing explosive creativity in these sectors," Farrell said. "However, the competition for customers and funding is incredibly intense. It is not uncommon for startups with valuable and potentially game-changing technologies to simply run out of money, which appears to be the case with Veloce Energy."

For asset photos, descriptions, and other information, visit
https://soldtiger.com/sales/ev-charging-facility-assets/

Inspections are available on Wednesday, November 6, from 10 a.m. to 4 p.m. (MT). To arrange an inspection or obtain other information, email: [email protected] or call (805) 497-4999.

Media Contacts: At Tiger Group, Maria Hoang, (805) 497-4999 [email protected]. At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected]

SOURCE Tiger Group