1,500 crowdfunding investors did not got the product they hoped for. Critics were skeptical from the beginning regarding the product.
The Viennese start-up Fontus went swimming with his idea of a water bottle that fills itself with humidity. In April, Fontus Water Technology GmbH collected about 325,000 euros from the roughly 1,500 supporters of the crowdfunding platform Indiego as a down payment for the still-to-be-developed bottle, which is not being produced yet.
With the money collected, Fontus wanted to finance the development of the drinking bottle , which was primarily intended for outdoor sports. However, the development cost was far more than planned and there is not enough funds for mass production, the company said.
According to KSV1870, the creditors are offered a 20% quota on their claims, payable within 24 months from the date of acceptance of the reorganization plan. The registration deadline is 29th October 2018, the restructuring plan is 12th November.
At an early stage, critics had expressed massive doubts about the technical feasibility of the self-filling water bottle . The idea was to cool the water bottle by the wind during cycling or with the help of solar modules and to absorb the resulting condensation. According to the skeptics, this would only have worked in tropical weather or with a very large solar panel.