The company that dreamt of colonising Mars plummets back to earth, declared bankrupt

The company that dreamt of colonising Mars plummets back to earth, declared bankrupt

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Dutch-based organization Mars One has filed for bankruptcy. More specifically, the private organisation which owns the Mars One project is divided into two organisations- Mars One Foundation and Mars One Ventures. Mars One Ventures is a not-for-profit organisation, whereas Mars One Ventures is a for-profit company.

The organisation is known to have announced a mission to establish a permanent human settlement on Mars by 2025 with a $6 billion budget.

Know more about the bankruptcy

Regarding the bankruptcy, Mars One co-founder and CEO Bas Lansdorp has stated that the Mars One Foundation is still solvent but has been stopped till the time it receives an infusion of funds. Lansdorp further stated that he is working to find a solution.

In the organisation’s press release, it has been announced that “discussions have been held with a new investment company” to revive Mars One Ventures by paying its debts.

The statement further read, “Mars One Ventures will establish a marketing machine, creating continuous content about these activities, evaluated from all angles, including technological, psychological, economical, and ethical aspects”.

The company began its bankruptcy proceedings in Switzerland on January 15, 2019. The bankruptcy court records were noticed by a Reddit user and confirmed by the company on February 11, 2019.

Previous announcements

Previously in 2013, the organisation opened applications for prospective astronaut candidates. In 2016, the Swiss financial services company InFin Innovative Finance acquired Mars One Ventures in a takeover bid. During the takeover, it was announced that the astronaut candidate headcount will be reduced from 100 to 24.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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