THE DUTCH COURT DECLARED THE TRACTOR MANUFACTURER BANKRUPT

On November 23, a court in Gelderland (Netherlands) declared the insolvency of H2Trac from Arnhem. An innovative manufacturer that tried to establish serial production of diesel-electric and hydrogen tractors turned out to be bankrupt. Together with him, his parent company Eox was declared insolvent. The data about this was published by the portal mechaman.nl .

According to experts, H2Trac repeated the sad fate of its predecessor, MTT Tractors. At the beginning of May 2020, the company that produced diesel-electric tractors of the E120 brand (their consumer name is MultiToolTrac) was declared insolvent. Its assets were then absorbed by H2Trac, whose owners announced plans to continue mass production.

The founders of the new company, Peter-Jan van Ham and Paul van Ham, then claimed that they would not only continue to produce a series of diesel-electric cars, but also intend to supply a new model of a hydrogen-fueled tractor to the market. To do this, Dirk Kuiken, co-owner of the Hencon machine-building holding, was invited to the firm as an investor.

In February 2022, there was a hope that the company would be able to attract investment. In particular, local publications reported on the support of the project by the Yoldersma family. Interest in business was fueled by subsidies from a program aimed at restoring the green economy. The amount of additional support was estimated at €150 thousand.

However, it has now become clear that investments have been reduced. The main shareholder stopped pouring funds into the project, citing a lack of market opportunities. Tractor production was stopped for a month and a half. And soon the investor filed for bankruptcy in court.

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