Nordic Unmanned ASA (Euronext Growth: NUMND), a leading European drone technology company, today announced that its Board of Directors has voted to file for bankruptcy. The company will submit a bankruptcy petition to the Sør-Rogaland District Court.
The decision follows the company’s inability to secure necessary funding to address a critical liquidity shortage. Nordic Unmanned requires an estimated €4 million to meet immediate financial obligations. This shortfall stems from several contributing factors, including the loss of an anticipated tender, delayed payments for services rendered, unforeseen capital expenditures, and increased financing needs within its subsidiaries.
Despite extensive efforts to explore all viable options, the company was unable to secure a sustainable financial solution within the required timeframe.
Founded in Norway in 2014, Nordic Unmanned has been a prominent player in the drone industry, specializing in advanced drones, sensors, and AI-powered drone solutions. The company served a diverse clientele, including government agencies, defense ministries, security clients, and corporate customers.
Headquartered in Sandnes, Norway, Nordic Unmanned also maintained offices in the UK, Belgium, and Germany. The company employed approximately 100 people.
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