October 06, 2015 11:04 AM Eastern Daylight Time

SAN DIEGO – (BUSINESS WIRE) – Heritage Global Partners (“HGP”), a worldwide leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL, CSE: HGP), today announced it has been selected, along with The Branford Group, to lead a series of global online auctions featuring the assets of AE Solar Energy Inc.

The asset disposition follows the recent strategic decision to wind-down the AE Solar Inverter business, which is operated under AE Solar Energy Inc. AE Solar Energy’s NX inverter technology revolutionized the utility scale inverter market with its bi-polar design, enabling higher efficiencies and unique balance of system optimizations.

Heritage Global Partners will be responsible for selling over 2,000 lots of AE Solar Energy’s machinery equipment and finished goods, including solar inverters, as well as some raw and manufacturing materials. There will be four auctions taking place across five locations:

Auction Dates Auction Location
10/26 – 10/28 Bend, Oregon
11/10 – 11/12 Fort Collins, Colorado & Mississauga, Ontario
11/18 – 11/19 Metzingen, Germany
12/1 – 12/2 Shenzen, China

Full auction catalogs are posted at www.hgpauction.com.

“AE Solar Energy is one of the most reputable companies in this industry and we are excited to offer their exceptionally well-maintained assets to the marketplace.” stated Nick Dove HGP Director of Sales. “The AE Solar Energy auction presents a unique opportunity for bidders to acquire high-quality machinery and equipment from top manufacturers at very attractive prices. We have already received significant interest from buyers around the world, and expect for that trend to continue through the auction close.”

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms and a subsidiary of publicly traded Heritage Global Inc. (OTCQB: HGBL and CSE: HGP).