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Electric Airline Grounded: Ecojet Enters Liquidation
7 Mar
Summary
- Ecojet, an all-electric airline startup, has entered liquidation.
- A £20 million funding attempt reportedly failed to save the company.
- The airline aimed for emission-free flights using retrofitted planes.
Scottish firm Ecojet Airlines, established in 2023 with aspirations to be the world's first all-electric airline, has officially entered liquidation. Founded by entrepreneur Dale Vince, known for his environmental advocacy and support for green initiatives, the company aimed to pioneer emission-free air travel.
Ecojet's ambitious plans included long-haul flights and European routes, with an initial service from Edinburgh to Southampton plotted. However, the venture faced significant financial challenges, with a reported attempt to raise £20 million proving insufficient to sustain operations.
Documents filed at Edinburgh Sheriff Court in late January confirmed a petition for the business to be wound up. Paul Dounis and Mark Harper were appointed as provisional liquidators following a voluntary liquidation initiated by the company's board.
The airline's vision involved retrofitting existing aircraft with hydrogen-electric powertrains, a process intended to achieve a 100% reduction in CO2 emissions. This method aimed to repurpose older planes, thereby saving significant carbon emissions and producing water as the sole byproduct, with efforts to mitigate contrail effects.
Opus Restructuring confirmed Ecojet was a startup with no material assets. The liquidation process is being funded by the company's members to ensure employees receive their full statutory entitlements.
