Mars One Project Failed to Reach the Red Planet and Faces Bankruptcy

Mars One Project Failed to Reach the Red Planet and Faces Bankruptcy

Science

Swiss financial notices revealed that Mars One Ventures is now facing bankruptcy. It is the company that intended to develop a human colony on the Martian land. Although, it is not surprising news that Mars One is no more. The company has been a scam for previous years. Mars One established the project in 2013. It also raised financial support from fees and marketing rights to send humans on a mission to reside on Mars. As per a bankruptcy list identified by a Reddit user, the company has silently filed for liquidation. The post reveals, the private company that led the Mars One vision consists of two parent companies. Firstly, Mars One Foundation which is a nonprofit organization, and the second one is Mars One Ventures, a commercial organization.

Swiss civil court based in Basel filed a bankruptcy case on the closing company in the second week of January. As per the trade register of the Swiss canton of Basel, a court announced Mars One bankrupt. Whereas, the company expected to raise capital and use donations for financial support. As per SpaceNews reports, the company started to contract with Lockheed Martin and Surrey Satellite Technology for a lander and an orbiter.

Mars One posted an update to its official website that the commercial arm is currently working on a solution with a banker. The company also quoted that the non-profit firm is still working. The problem with Mars One is that it made something very complicated. The company intended to launch people into space, landing them on the Red Planet. After landing on the Martian surface, the company promised to offer some sustainable living conditions there. All the actions seemed easy to Mars One, but that’s not so. However, Mars One has faced disagreement over its uncertain scheme to send people to Mars. Moreover, in 2016, InFin Innovative Finance, a Swiss finance service company acquired Mars One Ventures from its website. But presently the company’s website is not active anymore.

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