Martian Colonization Startup Mars One is Bankrupt, Surprising No One

Martian Colonization Startup Mars One is Bankrupt, Surprising No One

Martian Colonization Startup Mars One is Bankrupt, Surprising No One

Mars One, the overly ambitious company that planned to colonize the Red Planet and fund the project through a reality TV show, has officially been grounded.

On January 15th, The Swiss-based Ventures AG was declared bankrupt by a Basel court and was, at the time, valued at nearly $100 million.

It's fair to say the years haven't been easy going on Mars One's operations. The company promised to take wannabe astronauts to Mars to start the first human settlement on the Red Planet. The development of space ships for the delivery of colonists to Mars and the construction of their residential modules and life support systems was carried out by private contractors.

In 2016, Mars One Ventures was procured by the Swiss organization InFin Innovative Finance, however, its site does not give off an impression of being active any longer. "During the last few months, discussions have been held with a new investment company", Mars One said today. A user posted a link to financial documents suggesting that Mars One was set to be liquidated.

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Mars One's timelines were continually evolving, as well. And then, things went from "dream on" to "oh, no".

Mars One has not responded to a CTVNews.ca request for comment. After all, Mars One itself isn't an engineering firm, and has no operations in building space craft. This is certainly good news for Mars One's investors, who are owed in excess of $1 million and might actually recoup their money this way. Also, in 2014, two graduate students from MIT created a report looking at the feasibility of the Mars One mission, claiming that the technology was simply not mature enough for the plan to work and that it would require far more cash and deliveries of extra parts than the mission claimed.

The company's creator, Bas Lansdorp has also confirmed the news of bankruptcy stating he was working on a solution.

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