Ecojet Enters Liquidation After £20M Funding Failure

Edinburgh-based startup Ecojet, which aimed to launch the world's first electric airline, has entered formal liquidation after failing to secure 20 million pounds in funding.

Joint liquidators Paul Dounis and Mark Harper from Opus Restructuring were appointed on May 1 to wind up the company, following a petition to Edinburgh Sheriff Court in January and the earlier appointment of provisional liquidators in February. The firm, founded in 2023 by green energy entrepreneur Dale Vince, planned to retrofit conventional aircraft with hydrogen-electric powertrains. This approach promised the same power output as traditional planes but with a 100 percent reduction in CO2 and other emissions, potentially saving 90,000 tonnes of carbon annually by repurposing existing aircraft rather than building new ones.

No commercial flights ever operated. Ecojet intended to start with charters between Edinburgh and Southampton in early 2024, followed by expansion to European routes, but all plans were grounded amid the collapse. A spokesperson for Opus Restructuring stated that Ecojet was a startup with no material assets. Company members have elected to fund the liquidation process to ensure former...