A partnership between Canadore College and Swiss Space Systems appears to be dead on the launch pad today as reports out of Europe say S3 is bankrupt.
Two years ago, then MP Jay Aspin announced funding for a partnership between Canadore Aviation and Swiss Space Systems (S3) as part of a $10 million project that would have seen the development of a composite materials facility followed by the launch of private sector sub-orbital satellites from the region.
Now the space technology firm has been declared bankrupt by a court in Switzerland.
S3 was trying to make space more accessible by creating low-cost, reusable satellite launchers and it also intended to offer zero-gravity flights from North Bay to the general public in 2017.
Tests in preparation for scaled mock-up test flights went very well at Jack Garland Airport two years ago according to then head of Swiss Space Systems (S3) USA Robert Feierbach, but the company has been silent since.
But the company has been struggling financially, and on Wednesday the civil court declared it bankrupt.
The company has until next Friday ,10 days, to appeal the decision.
The news comes at the end of a difficult year for S3.
In August its founder and CEO, Pascal Jaussi, was beaten up and set on fire by two attackers in a forest.
BayToday tried earlier this year to get a comment from Canadore President George Burton, after the company appeared on shaky ground but got an email from Jessica Charette, Communications and Public Relations, Office of the President at Canadore College that said, "Canadore College President George Burton is optimistic the project will become a reality in the summer of 2017. Canadore continues to wait on word from S3 with regards to the timing for the drop testing program in 2017.”
North Bay Mayor Al McDonald told BayToday last month that he hasn't heard from the company in months.
In February the S3 project came under scrutiny when Canadore College announced the S3 Zero Gravity Flights campaign was postponed amid reports that the company was facing financial issues.
See that story here: https://www.baytoday.ca/local-news/s3-zero-gravity-flights-project-postponed-199530
See also: Canadore breaks ground for new facility