Dutch regional aircraft developer Maeve Aerospace and its parent company, Green Transition Alliance, were declared bankrupt by a court in The Hague on May 28, marking a significant setback for the sustainable aviation sector. The insolvency follows a failed funding round in which the startup sought to raise €20 million (US$23 million) to finance the next phase of development for its hybrid-electric regional aircraft, the Maeve Jet.
The court appointed insolvency specialist Karlijn van Vliet of Cees Advocaten as trustee. While the exact reasons behind the bankruptcy have not been publicly disclosed, Dutch business newspaper Financieele Dagblad reported that the collapse was directly linked to the company’s inability to secure the…