Floating Future successfully garnered attention with its remarkable hydroponic cultivation yet failed to generate revenue. The company lacked the financial resources to fully prepare its product, a floating system for food production, fully ready for sale, as revealed in a recent bankruptcy report. Two (former) employees, who were also shareholders, filed for bankruptcy. One of the employees also served as a director of the company.
Founded in September 2020, Floating Future focused on developing structures that enable food production on water, as well as developing fertilizers, irrigation systems, automatic harvesting systems, and distributing and selling the aforementioned products and structures.
The only revenue generated was thanks to a subsidy in 2022. That was also the year of the Floriade, where during the world horticultural exposition, lettuce was harvested on open water to considerable interest in the summer of that year.
Assets for Sale
In 2023, updates ceased until a verdict by the Gelderland District Court on February 6, 2024, led to bankruptcy. The curator states in the report that the coming period will be used to liquidate the assets. To date, one party has made an offer on (part of) the assets. The curator has intellectual property rights, data, tools, a sea container, a whisper boat, and a couple of laptops up for sale.
According to the report, 7 concurrent creditors have reported to the curator, accounting for an amount of over 268 thousand euros.
The bankruptcy was declared on February 6 and registered under the reference 05.gel.24.60.F.1300.1.24.
Photo index: image of the first harvest in Almere via Omroep Flevoland