Welcome to our dedicated page for New Horizon Aircraft news (Ticker: HOVR), a resource for investors and traders seeking the latest updates and insights on New Horizon Aircraft stock.
New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft, regularly issues news updates as it advances development of the Cavorite X7, one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft. This news feed aggregates the company’s press releases and related coverage so readers can follow key milestones in its aerospace engineering program.
Horizon Aircraft’s announcements often focus on technology and development progress, including prototype testing, full-scale aircraft assembly, and work on its hybrid-electric architecture. Updates have highlighted successful fan-in-wing transition flights of a large-scale prototype, progress toward a full-scale Cavorite X7, and preparation for aircraft certification. Readers can also find details on engineering partnerships, such as the selection of Pratt & Whitney Canada’s PT6A engine and collaboration with Motion Applied on a customized silicon carbide motor drive inverter.
Another recurring theme in HOVR news is all-weather capability. The company reports on Project CRYSTAL and a non-dilutive INSAT grant supporting development of an all-weather vertical propulsion system and ice protection technologies, with the goal of enabling IFR flight and Flight Into Known Icing conditions. These updates are relevant for investors and observers interested in how the Cavorite X7 is being positioned for missions such as medevac, search and rescue, disaster relief, and defense operations.
Horizon Aircraft also issues corporate and financial updates, including quarterly business updates, liquidity discussions, and information about government funding and capital markets activity. Governance and organizational news, such as board appointments and participation in industry conferences, appears alongside technical and program announcements. This page provides a single place to review those developments over time.
By reviewing the HOVR news feed, readers can track how New Horizon Aircraft Ltd. is progressing with its hybrid eVTOL program, building partnerships, and engaging with regional operators, emergency service providers, and military stakeholders as it develops the Cavorite X7.
Horizon Aircraft (NASDAQ: HOVR) has achieved a significant milestone with its Cavorite X7 eVTOL aircraft, becoming the first to accomplish a stable transition using fan-in-wing design. The company's patented technology combines modern electric motors and batteries to create a simplified and safer eVTOL system. The hybrid electric aircraft is projected to reach speeds of up to 250 mph and cover operational ranges exceeding 500 miles with fuel reserves.
Unlike competitors using complicated multi-copter rotating nacelles or heavy tilt-wing mechanisms, Horizon's design features multiple redundancy layers and a simpler transition mechanism. The company is currently constructing a full-scale, piloted technical demonstrator to further validate their approach.
Horizon Aircraft (NASDAQ: HOVR) has appointed Justin Chapman as Senior Technical Advisor to support the development of their Cavorite X7 hybrid-eVTOL aircraft. Chapman, a former Rolls-Royce executive who served as Chief of Electronics and Chief of FADEC, brings extensive expertise in electric propulsion and energy systems for aviation. His role will focus on advancing aircraft systems, including electronics, batteries, and electric propulsion.
Chapman will work closely with CTO Tom Brassington to enhance and de-risk the development of the Cavorite X7, which is designed as a practical, safety-focused hybrid eVTOL platform. His appointment strengthens Horizon's technical development capabilities as they progress toward producing a full-size demonstrator aircraft.
Horizon Aircraft (NASDAQ: HOVR), developer of pioneering eVTOL technology, has announced its participation in two major investor conferences in April 2025. CEO Brandon Robinson will present at the Planet MicroCap Showcase in Las Vegas (April 23-24) and the Trickle Research Microcap Conference in Denver (April 28).
At the Vegas event, Robinson will deliver an investor presentation on April 23 at 3pm PST, available via webcast. He and CFO Brian Merker will conduct one-on-one investor meetings throughout the conference. At the Denver conference, Robinson will present and participate in Q&A sessions.
Horizon Aircraft, known for developing the world's first eVTOL that operates predominantly like a conventional aircraft during missions, is making these appearances to strengthen investor relations and showcase their innovative aerospace technology.
Horizon Aircraft (NASDAQ: HOVR) has appointed John Wyzykowski, former Head of Propulsion at Lilium, as Technical Expert to support the development of its Cavorite X7 hybrid-electric eVTOL aircraft. The appointment strengthens the company's engineering team with expertise in propulsion system design and optimization.
The Cavorite X7 is designed with an estimated gross weight of 5,500 lbs and a projected useful load of 1,500 lbs. The aircraft aims to achieve a maximum speed of 250 miles per hour and a range exceeding 500 miles with fuel reserves. It features a hybrid electric power system that can recharge its batteries during flight and in under 30 minutes post-landing.
The aircraft is being developed for applications including medical evacuation, critical supply delivery, disaster relief, military missions, and Regional Air Mobility. Notably, it's designed to fly 98% of its mission like a traditional aircraft, which the company believes will enhance safety and ease certification processes.
Horizon Aircraft (NASDAQ: HOVR), a hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft developer, has received confirmation from Nasdaq's Listing Qualifications Department that it has regained compliance with Listing Rule 5550(b) by meeting the Equity Standard requirements. This ensures the company's continued listing on the Nasdaq Capital Market.
Additionally, regarding the Bid Price Rule (Rule 5550(a)(2)), Nasdaq has granted Horizon Aircraft an extended period of 180 calendar days until July 14, 2025, to achieve compliance.
Horizon Aircraft (NASDAQ: HOVR) has signed a Letter of Intent with Discovery Air Chile Ltda. to lease five Cavorite X7 hybrid eVTOL aircraft with planned delivery in 2028. The agreement marks Horizon's expansion into the South American market, particularly targeting Chilean regional air services.
The Cavorite X7 offers significant advantages over traditional helicopters, including twice the speed and up to 75% lower operating costs on a per-mile basis. The aircraft features a 30% lower per-hour operating cost compared to helicopters, positioning it as a cost-effective solution for passenger transport, patient transfers, and time-sensitive cargo delivery in Chile.
Horizon Aircraft (NASDAQ: HOVR) has announced the exercise of 2.5 million warrants, generating approximately $2.7 million in gross proceeds. This capital infusion follows a recent $8.4 million strategic investment, bringing the total capital raised in the last 30 days to $11.1 million.
The company, which develops hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft, plans to use the strengthened balance sheet to support the development of their full-scale, 7-person hybrid eVTOL aircraft. CEO Brandon Robinson noted increasing interest and support for their practical and safe aircraft designs.
Horizon Aircraft (NASDAQ: HOVR) has secured an $8.4 million strategic investment to support its hybrid electric Vertical TakeOff and Landing (eVTOL) aircraft development. The investment includes $2.1 million in Class A ordinary shares (4,166,667 shares at $0.50 CAD) and $6.3 million in preferred shares (4,500 shares convertible at $0.63 CAD per share over 5 years). The funding will strengthen the company's balance sheet, ensure operational stability, and support the development and flight testing of its Cavorite X7 aircraft. The preferred shares come with priority liquidation preference, and the common shares must be registered with the SEC within 90 days.
Horizon Aircraft (NASDAQ: HOVR), an eVTOL aircraft developer, has announced the mutual termination of its Forward Purchase Agreement with Meteora Capital Partners. The termination will result in an estimated gain of $20-25 million for Horizon in Q2 ending November 30, 2024. As part of the agreement, Horizon will pay Meteora a $200,000 termination fee and issue 200,000 shares of common stock if the Company files a resale registration statement within 24 months. This termination eliminates SPAC-related financial obligations and simplifies the company's capital structure.
Horizon Aircraft (NASDAQ: HOVR), a pioneer in hybrid eVTOL aircraft development, has announced its participation in the 13th Annual Roth Technology Conference. The event will take place at the Hard Rock Hotel in New York City from November 19-20, 2024. CEO Brandon Robinson and COO Jason O'Neill will conduct one-on-one and small group meetings on November 20. Interested parties can schedule meetings through their Roth representative or by contacting Horizon Aircraft's investor relations.
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