Spanish Company Deimos Imaging Declares Bankruptcy

5th Apr 2021
Spanish Company Deimos Imaging Declares Bankruptcy

Deimos Imaging, manufacturer of components for satellites with facilities in the Deimos Space complex of the La Nava industrial estate in Puertollano, Spain, declared insolvency. So did also Dot Imaging with its head office in the same place. Both companies announced voluntary bankruptcy together with the parent company Canadian UrtheCast Imaging. Former astronaut and current Spanish Minister of Science and Innovation Pedro Duque promoted the Deimos Imaging company as well as contributing to its development.

On 10th March 2021, the three companies (UrtheCast, Deimos Imaging, and Dot Imaging) were declared to be in voluntary bankruptcy by the Madrid commercial court’s abbreviated procedure (order number 16). As of now, no bankruptcy actions have been undertaken by Deimos Space, which is affiliated with Elecnor. The latter company remains active.

The judicial resolution has established that the insolvency creditors will communicate their claims in the manner provided by law. At the same time, the debtor shall be suspended in its powers of administration and disposition of his assets and will be further managed by the insolvency administration. Besides, it initiates the liquidation phase of the bankruptcy and the dissolution of the three mentioned companies. After their administrators’ or liquidators’ function is expired, they will be replaced for all purposes by the insolvency administration.

Deimos Imaging, with headquarters in Tres Cantos (Madrid), was founded in May 2017 with the participation of Pedro Duque. The former astronaut and current Minister of Science and Innovation was running the company between 2006 and 2011. During this time, he managed to put two Deimos satellites into orbit and implement other projects related to the aerospace sector.

However, Deimos Imaging was acquired in 2015 by the Canadian company UrtheCast, whose main project is to launch a “constellation” of satellites for taking high-resolution images.

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