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Depending on how you paid your deposit, you may be able to claw it back. If you used credit card for example, I believe there is quite a high success rate in these sort of instances. If you are UK based, there is something called a Section 75 refund:
https://www.moneysavingexpert.com/reclaim/section75-protect-your-purchases/
souldoubt
So I am guessing the idea behind his new project is to do it again, but trying to reduce costs as much as possible in order to make it sustainable.