Tiger Group will auction assets and intellectual property from grid-edge tech startup Veloce Energy on Nov. 7, 2024.
“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,” Chad Farrell, managing director of Tiger Commercial & Industrial, said. “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, Nov. 7, at 10:30 a.m. (MT). Bidding opens on Thursday, Oct. 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, including: VPort battery energy storage systems (BESS), welders, oscilloscopes, oztec inverters, test equipment, transformers and power supplies, forklifts, tools and 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. It’s an excellent buying opportunity,” Farrell said. “We’re seeing explosive creativity in these sectors. 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.”
Inspections are available on Wednesday, Nov. 6, from 10:00 a.m. to 4:00 p.m. (MT).
