Published: Wed, February 13, 2019
Sci-tech | By Patricia Wade

Mars One Fizzles Into Bankruptcy After Promising A New Life In Space

Mars One Fizzles Into Bankruptcy After Promising A New Life In Space

Mars One's mission to take humans to the red planet isn't over, the company insists, claiming talks with a new investor could bring the ill-fated space travel company out of bankruptcy.

Mars One was split into two ventures, the non-profit Mars One Foundation and the for-profit Mars One Ventures.

Meanwhile, the non-profit Mars One Foundation, according to Landorp, is still in operation, but it will not be able to continue without further funding. Among its critics are MIT researchers, who said the plan would simply kill off all the Mars settlers.

Mars One Ventures posted an update on its site saying that the commercial arm is "currently working on a solution with an investor".

Mars One received more than 200,000 applications for the Mars settlement and whittled the list down to 100 finalists - including six Canadians - back in 2015.

Mars One selected volunteers all over the world who agreed to go to the Red Planet without the possibility of returning back to Earth.

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Mars One has not responded to a request for comment.

The spaceship with the colonists was to be launched to Mars in 2026. The idea all along has been to turn this incredible challenge into a reality TV show which the company would then make money on via licensing. Experts have speculated that a mission to Mars could possibly cost hundreds of billions of dollars.

In 2016, Mars One Ventures was procured by the Swiss organization InFin Innovative Finance, however, its site does not give off an impression of being active any longer.

Later that year, we reported that the Mars One mission was essentially uninsurable.

Mars One - which began in the Netherlands and now has ties to a Swiss financial services company - says it's been talking to investors and hopes to emerge from the bankruptcy process intact.

The last official dispatch from Mars One had come in July 2018, when it claimed outside investment by Phoenix Enterprises.

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