The company writes this in a short press release. “The board of directors of the Company has this evening decided to file for bankruptcy. The board decision is unanimous and is due to the fact that there is no longer a realistic opportunity to raise sufficient capital to continue operations. The bankruptcy petition will be filed this evening,” reads the announcement, which was published on 10 December.
There had been signs that the company was not in a good position: Teco 2030 had only announced a strategic reorganisation of its business in September. The original business idea of producing its own fuel cell systems was abandoned in favour of licensing the company’s own technologies. Instead of investing in expensive production,…
