TerrAvion Abruptly Files For Bankruptcy, Ceases Operations
TerrAvion CEO Robert Morris sent customers an email saying the company was closed effective September 4, 2020.
“If you are a client, I strongly recommend downloading a copy of any data you have licensed and wish to retain immediately, as we do not know how long our infrastructure will remain active,” he said in the announcement. “I wish we could have given everyone more of a heads up, but we were working and hoping to avoid this until just hours ago.
“I cannot tell you how disappointed I am in this outcome. To make the decisions it will be called upon to make on every acre in the 21st century, agriculture needs modern, open, high-resolution data infrastructure. Though TerrAvion delivered the most volume in our category — with positive and growing margins — agribusiness and capital markets seem to have incommensurate expectations. TerrAvion was caught in the middle. The team and I did everything possible in our power to make it work. I am truly grateful for everyone that worked with us as customers and partners through the last eight years, you all are the best. I wish everyone in agriculture and supplying industries success.
“TerrAvion blazed a path that others can and will follow. We hope that the industry will invest more decisively in whoever comes next, as someone surely will.”
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