German hydrogen aircraft developer Apus Zero Emission has been placed under provisional insolvency proceedings by the Local Court of Frankfurt (Oder).
The Strausberg-based firm has entered administration due to financial difficulties, reportedly attributed in part to what has become a common refrain in the industry: slow market development.
Oder has appointed a provisional administrator to oversee the company, which may continue operations. H2 View understands that Apus could still develop its hydrogen aircraft while diversifying into services and component supply for other manufacturers.
Apus may sell assets with approval from the insolvency law firm Pluta. A decision on whether the company will continue operations or face full liquidation is expected in the coming weeks.
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