Berlin New Space company PTScientists successfully sold
All jobs are retained
Research contracts will be continued
BERLIN (PTScientists PR) — The Berlin based space start-up PTScientists was successfully sold to an aerospace company with effect from September 1st 2019. Silence has been agreed on the purchase price and the name of the buyer.
PTScientists filed for insolvency on July 5th, 2019, due to unplanned delays in promoting additional investor and sponsorship funds. Insolvency administrator Sascha Feies of the law office GÖRG spoke to numerous potential investors in recent weeks.
PTScientists filed for bankruptcy on Friday, July 5, with the district court Berlin Charlottenburg.
In a press release, the former Google Lunar X Prize competitor blamed unplanned delays in the acquisition of incentives and subsidies to support its planned mission to the moon.
“Lawyer Sascha Feies has been appointed as provisional insolvency administrator,” the press release stated. “The business operations and research projects of the scientific enterprise continue to run without any restrictions during the insolvency proceedings.”
PTScientists has been working with ArianeGroup and ESA on a joint study of a future mission to the lunar surface.
“The bankruptcy petition throws us back a little in time, because we first have to secure together with the insolvency administrator, the further financing of the company,” said Robert Boehme, founder and CEO of PTScientists. “However, given our clear progress and achievements that we have demonstrated in recent months, we are well placed to emerge from the insolvency process and implement our lunar mission as planned.”
ArianeGroup has signed a contract with ESA to examine the possibility of going to the Moon before 2025 and starting to work there
Ariane 64, the 4-booster version of Ariane 6, would enable this European mission to carry the equipment needed for a Moon landing
To mark the 50th anniversary of Man’s first steps on the Moon, ArianeGroup will be one of the partners in the “La lune, du voyage réel aux voyages imaginaires” (The Moon, a journey from the real to the imaginary) exhibition at the Grand Palais in Paris
TOULOUSE, France (ArianeGroup PR) — The European Space Agency (ESA) has just signed a one-year contract with ArianeGroup to study and prepare for a mission to go to the Moon with the aim of mining regolith. Regolith is an ore from which it is possible to extract water and oxygen, thus enabling an independent human presence on the Moon to be envisaged, capable of producing the fuel needed for more distant exploratory missions.
TeamIndus, the only Indian team in the Google Lunar X Prize (GLXP), has announced a contract with the ISRO space agency to fly its lunar rover aboard a Polar Satellite Launch Vehicle (PSLV) next year.
The team is hoping to win the $20 million first prize for the first privately-built rover on the moon. The vehicle will need to travel 500 meters across the surface and beam back high-definition video to Earth. The competition also has a $5 million second prize.
TeamIndus officials said the ISRO contract has been verified by the X Prize Foundation, which runs the competition. Four other teams have announced launch contracts: Moon Express, PTScientists, SpaceIL and Synergy Moon. The foundation has verified the contracts for all of these teams except for PTScientists, which announced its agreement earlier this week.
The foundation set a deadline for the end of this year for competition’s 16 teams to have their launch contracts verified. Any teams without launch agreements will be dropped from competition.
TeamIndus said it needs to raise $65 million to pay for the launch and the mission. It is in negotiations with other teams without rides to the moon to carry their rovers to the surface.
The team’s chances of winning GLXP money will depend upon the competition extending its deadline for winning the prize beyond Dec. 31, 2017. The launch is not scheduled until Dec. 28. The spacecraft will then take 21 days to spiral out to the moon and land there.
The other issue is that launch schedules are notoriously unreliable. ISRO is no exception. It’s a pretty big bet to except the agency to launch on time. The schedule also gives TeamIndus no room for delays on hardware that isn’t even built and tested yet.