Hybrid-electric aircraft developer Maeve Aerospace has gone bankrupt, ending the European start-up’s five-year effort to bring a low-emissions regional airliner to market. A court in the Netherlands declared Maeve and its parent company, Green Transition Alliance, bankrupt on May 28, according to the Dutch insolvency register.
Founded in 2021, Maeve operated from offices in Delft, the Netherlands, and at Oberpfaffenhofen Airport near Munich, Germany. Dutch business newspaper Het Financieele Dagblad reported in mid-May that Maeve had failed to raise the €20 million ($23 million) it was seeking to fund the next stage of development. Co-founder and CEO Jan Willem Heinen confirmed to the newspaper at the time that Maeve would cease operating in its current form, saying prospective backers had come to view the next investment round as too risky. The company employed 24 people.
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