Quanergy Completes Chapter 11 Sale

A group of investors that includes former Quanergy Systems Inc. board member Tamer Hassanein is the winning bidder of the assets of lidar technology company Quanergy, as awarded in an auction administered by the U.S. Bankruptcy Court for the District of Delaware. Quanergy will remain a provider of lidar sensors and smart 3D solutions targeted for applications in physical security, smart spaces/smart cities, and industrial automation.

Quanergy filed for protection under Chapter 11 of the U.S. Bankruptcy Code in December 2022. The company has continued operations through the process.