Electriq Global, an Israeli hydrogen energy startup founded in 2013, has collapsed under nearly $30 million in debt despite raising $25 million. The company, which operated in the green energy sector, has seen its workforce drastically reduced from about 30 employees to just six, representing an 80% layoff. This severe downsizing and the company's entry into court-supervised rehabilitation were triggered by financial difficulties after a key €25 million investment from a Dutch investor was frozen due to the security situation and war in Israel. The crisis culminated in February 2025 when employees petitioned the court over unpaid January salaries, leading to a freeze on proceedings and the appointment of a trustee.
