Refinery Asset Sold to Major U.S. Renewable Energy Manufacturer
BETHESDA, Md., Jan. 20, 2023 (GLOBE NEWSWIRE) — Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, has successfully completed the sale of one of two unused, high-pressure hydrocracker reactors fabricated in 2010 by Kobe Steel Japan. The reactor, which has been stored under nitrogen purge at the Port of Gwangyang in South Korea, was sold through AllSurplus.com, Liquidity Services’ online marketplace for surplus business assets. The sale to a major renewable diesel manufacturer based in the United States was concluded in December 2022.
“Our client is very pleased to have been able to locate and purchase this unit at such a great price,” said Liquidity Services’ Vice President, Business Development Trey Valentino. “Delivery of the hydrocracker unit will dramatically cut the amount of time they would otherwise have waited for a new factory order by 12-18 months, thus enabling the company to get their project underway more quickly.”
This type of reactor is used to produce salable products such as jet fuel, diesel fuel, gasoline, kerosene, naphtha, and biodiesel in a traditional oil refinery or in renewable biodiesel applications. Operating at high pressure and temperature, the reactor can also produce diesel and jet fuel from plant-based oils and waste cooking oils, making it a greener alternative to other fuels.
The completed sale includes ancillary equipment, available data books, drawings, and technical data related to the assets. A similar second unit is available for sale on AllSurplus.com providing the same opportunity for a buyer to deploy quickly and generate fuel without delay.
“This reactor makes a powerful addition to our buyer’s renewable energy program. It is very satisfying to know that this purchase saved them valuable time and resources,” said Liquidity Services’ SVP, Managing Director Capital Assets Nick Taylor.
Hydrocracker Reactor Features
SOLD Unit 1 – 12’ inside diameter X 80’ t-t, 2755 psig @ 850F, chrome steel and vanadium with stainless weld overlay, built 2010 by Kobelco Steel Japan, ASME code and NB registered.
AVAILABLE Unit 2 – 12’ inside diameter X 57’ t-t, 2755 psig @ 850F, 2 1/4Cr-1Mo-V steel w/TP317L stainless steel weld overlay, built 2010 by Kobelco Steel Japan, ASME code and NB registered.
AllSurplus is the world’s leading marketplace for surplus business assets, ranging from heavy equipment to transportation assets and industrial machinery. AllSurplus is the smartest, fastest way to sell inventory and equipment as sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. AllSurplus is powered by one of the most experienced and trusted companies in the surplus industry, Liquidity Services (NASDAQ:LQDT), which has supported millions of customers across the globe. AllSurplus buyers have direct access to all the surplus assets across Liquidity Services’ network of marketplaces in one centralized location.
About Liquidity Services, Inc.
Liquidity Services (NASDAQ:LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than 4.9 million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients’ sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.
Director, Brand and Integrated Marketing Communications
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/168d1e48-6aef-4af4-8887-133554e2f09a