Volocopter has filed an application for insolvency proceedings at the Karlsruhe Local Court in Baden-Württemberg, Germany.
The application, which was opened on 26 December 2024 and began the following day, will see Anchor Rechtsanwältegesellschaft mbH partner and attorney, Tobias Wahl, as administrator during the process.
CEO of Volocopter, Dirk Hoke, says:We are ahead of our industry peers in our technological, flight test, and certification progress. That makes us an attractive company to invest in while we organize ourselves with internal restructuring.
Volocopter states that the decision to apply for insolvency was made following the failure of a series of intensive fundraising efforts, which left the company unable to “maintain regular operations outside of insolvency proceedings”.
Employees have been briefed on the situation and business operations are expected to continue as normal, with the company now seeking investment toward its entry into the market in 2o25 following VoloCity’s certification from the European Union Aviation Safety Agency (EASA).
Tobias Wahl explains:The company needs financing to take the final steps towards market entry. We will endeavor to develop a restructuring concept by the end of February and implement it with investors.
