HOVR News & Events

The company said, "Continued strong liquidity with $20M in cash, including what the Company expects is sufficient working capital to support planned aircraft development milestones through fiscal 2027; Advancing the full-scale hybrid-electric Cavorite X7 aircraft from concept to reality; the Company expects to complete assembly later in 2026 with flight testing to commence in early 2027." Brandon Robinson, CEO, commented, "This quarter marked a major inflection point as the Cavorite X7 aircraft transitioned from the design phase into manufacturing. With strong strategic partnerships and collaborations, growing technical capabilities, and solid liquidity, we are confidently tracking to complete our full-scale prototype by the end of 2026."

New Horizon Aircraft (HOVR) announces its agreement with MHI RJ Aviation Group, MHIRJ, a subsidiary of Mitsubishi Heavy Industries (MHVYF). This collaboration aims to support the ongoing development of Horizon Aircraft's hybrid-electric VTOL, Vertical Take-Off and Landing, aircraft, the Cavorite X7. Through this collaboration, MHIRJ will provide specialist engineering services focused on the design and development of flight test instrumentation for the Cavorite X7. This effort is essential to enable critical data collection from the aircraft's flight test program expected to begin in early 2027. In addition, MHIRJ will offer broad engineering support and utilize its regional aviation expertise to help move the Cavorite X7 program forward.

New Horizon Aircraft Ltd. announce dthat its hybrid-electric VTOL aircraft, the Cavorite X7, is forecasted to operate up to 75% more cost efficiently compared to conventional helicopters on a cost per available seat mile basis. The aircraft further offers greater redundancy, speed, and higher aircraft utilization by combining all-weather capability with low maintenance requirements. The Cavorite X7's competitive operational and economic performance is attributed to its hybrid architecture and patented fan-in-wing design. Flying most missions in conventional fixed-wing cruise powered by a traditional turboprop engine, the Cavorite X7 is targeting regional distances up to 450 km/h, nearly twice the speed of today's helicopters serving similar mission profiles. This can cut response times by half for critical missions such as medevac, disaster relief, and defense operations while significantly lowering operational costs.