Hyvia announced in a brief statement that the Court of Economic Activities of Versailles had converted the insolvency proceedings, which had been ongoing for several weeks, into a court-ordered liquidation on 18 February. The reason given by the joint venture is that the insolvency administrator had not come across a “credible takeover offer” in his search for potential buyers. It added: “The difficulties encountered by HYVIA essentially result from the too slow emergence of hydrogen mobility ecosystems in Europe and the very significant development costs required for hydrogen innovation.”
As reported earlier this month, Hyvia filed for bankruptcy in December at the Versailles Commercial Court and has since obtained an extension…
