Lilium’s collapse has claimed another victim, with German battery supplier CustomCells – which had pledged to fund the electric air taxi developer’s revival – now itself facing insolvency.
Dr Malte Koster, a partner at insolvency specialist WilmerKoster, has been appointed as the preliminary administrator for the company’s two main operating units in Itzehoe and Tubingen. The firm’s parent company is not yet in insolvency, however.
Lilium selected CustomCells as one of its battery suppliers in 2021. It was to produce the cells, using silicon-anode technology from Ionblox, at its Tubingen site. In 2023, Lilium said the firm was raising output as it progressed development of its Lilium Jet.
However, the collapse of its largest customer in October 2024 and subsequent re-emergence – and failure – as Lilium Aerospace left CustomCells in a precarious financial position.
“Outstanding receivables in the tens of millions of euros remained unpaid and could no longer be absorbed,” it says.
“Despite promising business developments, no new investors with sufficient capital were secured in time to offset these losses, due in part to the current challenging macroeconomic environment.”
Efforts to stave off insolvency through the financial support of German and EU institutions “ultimately proved unsuccessful”, it adds.
Business will continue at CustomCells as Dr Koster seeks a buyer for the company, with employee wages secured until June.
“Ultimately, the developments at Lilium have significantly impacted CustomCells,” he says.
“We are now working to gain a full understanding of the situation and, over the coming days and weeks, will evaluate what restructuring options are available under insolvency protection.
“At the same time, we will launch a new investor process together with the management team.”
CustomCells was one of the few confirmed backers of Lilium Aerospace as it attempted to resurrect the operation earlier this year before filing for insolvency in February.
Ironically, one of the largest sources of funding for Lilium Aerospace was to have come from funds linked to Marian Bocek, the chief executive of Slovakian battery maker InoBat – another supplier to the Lilium Jet.
Bocek’s failure to secure the transfer of those funds ultimately doomed any hope of Lilium’s revival.
CustomCells’ insolvency is the latest blow for the battery industry in Europe, following last year’s bankruptcy of Swedish firm Northvolt.
