PT Scientists: The path to the moon first leads to bankruptcy

PT Scientists: The path to the moon first leads to bankruptcy

The Berlin startup PT Scientists has ambitious plans: The team is working on the development of their own lunar module. This is to land twice in the years 2020 to 2022 on the Erdtrabanten. Subsequently, a cooperation with the European Space Agency ESA is planned. But now the company has to cope with a serious setback: because there were delays in the disbursement of investor and promotional funds, invoices could no longer be paid. The management therefore had no choice but to file for bankruptcy. But this does not necessarily mean the end of the project. Although initially an external insolvency administrator was determined. However, he will now look for new investors together with the previous team. The development of the lunar module should initially continue.

This is how the lunar lander from German production should look. Picture: PT Scientists

High investments have melted the cash reserves

The problems in disbursing the funds hit the project at an unfavorable time. After all, the company had to spend a lot of money recently. Thus, the number of employees was significantly increased. In addition, the clean rooms needed for the construction of the lander were set up. The first components also had to be ordered in order not to jeopardize the project schedule. As a result, however, also the available funds decreased. As the new funds then not arrived as hoped, the walk to the insolvency judge was inevitable. For the project this means at least some delay. Because now the management must first strive for a long-term solution to the financial problems. Support could come from the previous sponsors – including Audi, Vodafone and Red Bull.

The PT Scientists were founded for the Google Lunar X Prize Challenge

However, this is not the first setback in the history of the project. Because originally the PT Scientists were founded to participate in the Google Lunar X-Prize Challenge. The Internet company had for a premium of 20 million dollars. It should be the private company that first lands on the moon and travels there for at least 500 meters. However, none of the participating teams managed to do so until the last deadline in March 2018 – which is why most of the prizes were forfeited. However, the PT Scientists did not give up and instead continued their project with the help of state funding and private sponsors. Now, insolvency administrator Sascha Feies will have to decide on the future of the project.

Via: PT Scientists

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