How should I deal with a team mate who jeopardized the one important project in uni?

So, we've been working on our Bachelor's Project for a while now. Without much context, those are incredibly important not only for our degree, but also bc they open literal doors in our field if we do it well. We planned on applying for funding bc it's a very prestigious option here, if chosen, and we already delayed it one semester bc one of our team mates wasn't pulling his weight.

As it turned out, he's been doing nothing the last 1,5 years and only tried to placate me (who leads the whole thing). Since he's actually a good friend of mine I always tried to meet him halfway, offered him options and talks and help if things were too difficult to do and he never once agreed with me when I pointed out that I have the impression he's just buying time and not fully invested. It's not even half-assed effort but none at all, fooling me and my other team mate.

Today he told me that he dropped out of the project. And he basically didn't do ANYTHING. There's a shit ton of work I have to do that is based on his work and without it, I can't do shit. I dunno how to deal with this or him. I'm beyond stressed and while I have been calm earlier during our talk, I had a panic attack at home bc we have two months left to pull everything off. And with nothing on my hands, thanks to him, I have wasted 1,5 years of waiting for him to get to work.

I dunno why someone who's supposed to be my "friend" would do this. And I'm not sure how I can go about this whole thing or how I should, if you get the gist. I feel incredibly hurt, disrespected and just angry as hell. Reporting him to my prof isn't an option either bc technically, it's not his graduation project. It's mine and my other team mate's. It has literally zero consequences for him, academically.

How would you deal with with this person now? Should I stay "friends" with him? I am so overwhelmed rn, I don't even know if I can work another day on this project...

How should I deal with a team mate who jeopardized the one important project in uni?
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