November 20, 2006
Farmington Hills, MI – You can feel the electricity in the halls of Hilco Industrial these days. That's because of the unprecedented results of a just-completed auction sale of unused surplus gas and steam turbine generators and other plant equipment for San Jose, California-based Calpine Corp., a power producer.

The auction, which was held in Las Vegas on November 16, 2006, brought $55.7 million in sales. Among the 130 lots auctioned were eight unused turbine and generator sets, each of which is capable of generating from 45 megawatts to 180 megawatts of power. Ancillary plant equipment was also sold.

Calpine, which filed for bankruptcy last year, sold the equipment as part of an overall review of assets that the company is undergoing as part of the bankruptcy restructuring. The sale was ordered by the U.S. bankruptcy court in the Southern District of New York. Law firm, Kirkland & Ellis, LLP, is debtor counsel and Miller Buckfire & Co., LLC, is providing financial advisory to Calpine in the bankruptcy process.

Farmington Hills, Michigan-based Hilco Industrial, LLP was engaged to sell Calpine’s surplus assets. A simultaneous on-site and on-line auction strategy garnered the $55.7 million result. Approximately $25 million was generated by on-line buyers from around the world who participated using Hilco’s HilCast® webcast auction technology. This is believed to be a world record for industrial equipment sold via an on-line auction according to Hilco Industrial CEO Robert Levy. He should know. Levy is a 27-year veteran of machinery and equipment auctions and a pioneer in the use of Internet-based auctions.

“In all my years,” says Levy, “I have never seen larger online bids for specific pieces of industrial equipment. We had $10 million bids for generator sets and some bidders took multiple units.”

In order to assure a truly level playing field for Internet bidders, who were competing with bidders at the Las Vegas auction site, Hilco employed its Hilcast® conversational webcast technology. As in any traditional theater-style auction, on-site bidders view each item being auctioned on a large video projection screen while an auctioneer asks for and calls-out bids to the seated audience. The Hilcast® auction system provides on-line bidders with the same images via a conventional web browser, but they hear and can communicate in real time with the auctioneer and on-site audience over a high-quality international telephone line.

Hilco Industrial Sets Asset Auction Record for San Francisco Public Utility Company
SFPUC sale event is believed to be one of the two largest revenue-generating auctions of its kind in history

March 9, 2010
Farmington Hills, MI – Hilco Industrial, LLC, a leading distressed asset disposition company, announces the sale of four (4) surplus, never-used General Electric LM6000 Sprint Turbine Generators on behalf of San Francisco Public Utility Company (“Invenergy LLC”). The auction sale was held on March 8, 2010. The winning bidder paid $44,000,000 for all four generators, capable of producing nearly 196,000 kW of power.