SpectraWatt Solar Cell Manufacturing Facility to Be Auctioned on September 28

Heritage Global Partners to conduct public auction of state of the art facility, equipment and inventory

September 07, 2011 10:00 AM Eastern Daylight Time

SAN DIEGO – (BUSINESS WIRE) – On behalf of SpectraWatt, Inc., Heritage Global Partners along with Counsel RB Capital and Silicon Valley Disposition, will jointly conduct a live bulk and piecemeal auction of a 140,000 square-foot fully automated, Crystalline Silicon Solar Cell manufacturing and research facility. The approval of Debtor’s Motion to engage Heritage Global Partners is currently pending in the United States Bankruptcy Court for the Southern District of New York. Following approval, the auction will be staged on Wednesday, September 28, 2011 from 10 am – 5 pm EDT via live global webcast at www.hgpauction.com and on location at the Hudson Valley Research Park in Hopewell Junction, NY.

The SpectraWatt location, and its equipment to be auctioned, will be open for inspection by potential buyers on September 26th and 27th, 9 am to 4 pm, or by appointment only.

In the event a Bulk Sale of SpectraWatt, Inc. is consummated, the successful bidder has the option to assume the existing lease on the 140,000 sq ft. facility at Hudson Valley Research and continue the operations in its existing production environment. The auction includes the facility, production equipment as well as multimillion dollar spare parts inventory, office furniture and fixtures, IT and more.

“There is immediate expansion potential at this facility for any company who is at the ready to come in and capitalize this state-of-the art facility and its existing equipment and inventory,” said Bruce Costello, VP Heritage Global Partners.

SpectraWatt is a U.S. based manufacturer of crystalline silicon solar cells focused on delivering innovative products of superior quality. The company’s state-of-the-art, fully-automated, cell manufacturing process along with extensive research and development capabilities meet the ever-growing needs of the solar industry.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners, is one of the country’s leading asset advisory and auction services firms, which assists large and small companies with buying and selling of assets. Heritage Global Partners offers asset brokerage, asset inspection, asset valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.

The SpectraWatt manufacturing facility is located at Hudson Valley Research Park at 2070 Route 52, Building 334, Zip 23A in Hopewell Junction, NY. For more information, please visit www.hgpauction.com.