In the wake of Evergreen’s bankruptcy filing in August 2011, the United States Bankruptcy Court has appointed Hilco Industrial, LLC to auction off the company’s remaining assets in the U.S. It’s a relatively quick turnaround that’s spurred some outcry from investors and the U.S. Department of Energy (DOE).

As widely reported, Evergreen Solar was producing photovoltaics with its patented silicon String Ribbon technology. The technology promised to produce photovoltaics at a cost that was 33 percent less than traditional silicon manufacturing methods.

However, an increase in supply internationally and from China, specifically, reduced the price of photovoltaics quicker than Evergreen was able to ramp up production. The lowered prices also led U.S.-based PV manufacturers Solyndra and SpectraWatt to declare bankruptcy this past August. SpectraWatt’s assets were auctioned off in September. Solyndra is still undergoing federal scrutiny over the $535 million loan guarantee it received from the DOE.

In an attempt to save the Massachusetts-based company, Evergreen tried to move its solar manufacturing to China earlier this year. The move upset Massachusetts legislators that gave the company $46 million in various solar incentives to locate its manufacturing facilities in the state. But the planned move was not enough, and the company declared bankruptcy in August.

The remaining assets of Evergreen Solar, including the real estate at its Devens, Mass., and Midland, Mich., facilities, will be auctioned off on Nov. 1.

Interested parties must submit bids by Oct. 26.

“The entire company is being offered for sale,” said Brian Lee, an executive vice president with Hilco’s company HilcoBid.

In March, Hilco was selected to sell Evergreen’s Devens manufacturing facility. At that time, the company said the facility could produce more than 180 megawatts of photovoltaics annually. The company said the value of the equipment was $425 million.

Hilco is auctioning off Evergreen’s material assets, or non-core assets. The company’s core assets, its intellectual property and patents, are being sold by investment bank UBS, according to Lee.

Although UBS is handling the auction of the company’s intellectual property, the DOE wants to halt the sale of at least one of the company’s patented methodologies, according to The Wall Street Journal. The DOE’s National Renewable Energy Laboratory invested $3 million into the company’s research and development efforts in its early stages.

In court documents, DOE attornies said they intended to, “Prevent foreign entities from gaining control over federally funded technology and competing with American industry unfairly,” the newspaper said.

UBS managing director Doug Lane told the bankruptcy court that Chinese solar companies have shown the most interest in the auction so far, the Journal reported. UBS did not respond to a request for comment.