Heritage Global Partners Managing Upcoming March 4-5 Online Auction of Never-Been-Used, State-of-the-Industry Siemens Steam Turbine SST-400
(Business Wire) Feb 07 10:07 AM EST

SAN DIEGO & SANTA TERESA, N.M.–(BUSINESS WIRE)– Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL), today announced that it has been retained by leading Concentrated Solar Power (CSP) Tower Technology Provider eSolar to manage the upcoming sale of its turbine. The Siemens Industrial Steam Turbine SST-400, which originally sold for in excess of $11 million, has never been run and is being offered to the highest bidder in its original crating.

In addition to usage in CSP plants, typical applications for the SST-400 include industrial power plants – such as captive power plants in the chemical, sugar, textile, pulp and paper and steel industries. The steam turbine can also be used in cogeneration and district heating plants, geothermal power, biomass plants and combined cycle power plants, among other industries and applications.

The SST-400 is a single casing steam turbine, providing geared or direct drive to 50 and 60 Hz generators, or to compressors and pumps. Its symmetrical casing includes a horizontal joint flange enabling it to accept short start-up times and rapid load changes. The modular package design allows a wide variety of configurations to satisfy the customer’s individual needs in the most economical way. Additionally, utilization of selected proven components assures high reliability and easy maintenance.

Siemens Industrial Steam Turbine SST-400 Sale

Date: March 4-5, 2014 (begins 7 am MT on 3.4 – concludes 10 am MT on 3.5)

“Heritage Global’s unique upcoming online auction sale features a never-been-used Siemens Steam Turbine SST-400 that can be utilized by organizations participating across a multitude of different industries. We expect this auction to appeal to a very wide range of potential buyers based around the world,” stated Heritage Global Partners Director of Sales, David Barkoff.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more. HGP is a subsidiary of Heritage Global Inc.

CONTACT: For Heritage Global Partners

             David Barkoff, 650-649-0147
             Robert Rinderman or Jennifer Neuman, 212-835-8500