Core Viewpoint - Horizon Aircraft has provided significant technical updates on the Cavorite X7, focusing on enhancements in safety, aerodynamics, and cruise performance, as part of its commitment to developing a leading hybrid-electric VTOL aircraft [1][5]. Design and Engineering Updates - The Cavorite X7 features a total of 12 vertical lift fans, with a redesign that replaces four smaller canard fans with two larger wing-size fans, improving manufacturing efficiency and performance while maintaining safety [3]. - Aerodynamic improvements have been made to the canard and tails to reduce drag, enhance cruise efficiency, and improve stability [4]. - The cabin has been slightly extended, and windows redesigned to provide more legroom and better sightlines, enhancing passenger comfort [4]. Collaboration and Expertise - The refined design of the Cavorite X7 is a result of collaboration between Horizon Aircraft's engineering team and renowned mobility designer Andrea Mocellin, aimed at optimizing performance and safety [2]. Company Vision and Future Plans - Horizon Aircraft aims to build one of the safest and most performant modern VTOL aircraft, with these updates furthering that mission [5]. - The company plans to scale unit production of the Cavorite X7 to meet anticipated demand from regional operators, emergency service providers, and military customers upon successful testing and certification [6].

Core Insights - New Horizon Aircraft has achieved a significant milestone with a successful full-wing transition flight of a large-scale prototype, which is a rare accomplishment among eVTOL developers globally [1] - The company is focused on developing the Cavorite X7 as a hybrid-electric aircraft, emphasizing safety, operating costs, and durability, while avoiding the air taxi service model [2][4] Funding and Liquidity - The company reported a cash balance of over $24 million and raised more than $11 million in the quarter, alongside securing a $10.5 million non-dilutive INSAT grant to fund prototype completion within approximately 12 months [5][11] - Total operating expenses for the quarter were $5.1 million, an increase from $3.3 million in the prior year, with R&D and aircraft development spending rising significantly [13] Technical Progress and Timeline - Management plans to complete and assemble the full-scale X7 prototype by the end of 2026, with initial testing targeted for early 2027 [6][7] - The engineering team has been expanded to enhance capabilities in aerodynamics, aerostructures, propulsion, and systems integration [7] Partnerships and Non-Dilutive Funding - The company has established partnerships with Pratt & Whitney for propulsion expertise and with McLaren Applied for power electronics and systems integration [8] - The INSAT program grant is viewed as a meaningful source of funding that supports development without shareholder dilution [9][10] Market Positioning and Certification Path - The Cavorite X7 is positioned for various missions beyond air taxi operations, including cargo and medical evacuation, with expected performance targets of nearly 250 mph cruising speed and a 500-mile range [15] - Certification work is already underway, with discussions with Transport Canada and a partnership with Certification Center Canada to facilitate the process [16][17] Future Outlook - The company anticipates that operating costs will gradually increase as it expands its workforce and certification efforts, projecting total operating costs could be around double by this time next year [14] - Management is engaged in strategic discussions for future partnerships, prioritizing aerospace industry collaborations [18]

Core Insights - New Horizon Aircraft Ltd. (NASDAQ:HOVR) has partnered with Motion Applied, a former division of the McLaren Group, to enhance its hybrid-electric VTOL aircraft, the Cavorite X7 [1][2]. Group 1: Partnership Details - Motion Applied will design and manufacture a customized motor drive inverter for the Cavorite X7, aimed at improving power efficiency and reducing weight in the aircraft's vertical lift system [2]. - The partnership leverages Motion Applied's expertise in design, manufacturing, and testing to support the development of a full-scale prototype and certification program for the Cavorite X7 [2][3]. Group 2: Technical Specifications - The Cavorite X7 will utilize Motion Applied's MCU-X platform, featuring a custom air-cooled silicon carbide motor drive inverter that converts direct current from onboard batteries into alternating current for the electric motors [3]. - The inverter is expected to weigh under 3 kilograms and is designed to enhance power transfer efficiency while minimizing cooling requirements through the use of silicon carbide technology [4]. Group 3: Company Overview - New Horizon Aircraft Ltd. is focused on developing the Cavorite X7, a hybrid-electric Vertical Takeoff and Landing (eVTOL) aircraft that combines the flying capabilities of a conventional plane with VTOL functionality [5].

Core Insights - Horizon Aircraft hosted Brigadier General Brendan Cook from the Royal Canadian Air Force for a briefing on the Cavorite X7 and its potential defense applications [1] Company Overview - Horizon Aircraft is an advanced aerospace engineering company focused on developing hybrid eVTOL aircraft, specifically the Cavorite X7 [1] Industry Context - The meeting with military officials highlights the growing interest in hybrid eVTOL technology for defense purposes, indicating potential market opportunities for Horizon Aircraft [1]

Core Viewpoint - Horizon Aircraft announces a strategic collaboration with renowned mobility designer Andrea Mocellin to enhance the design and aesthetics of the Cavorite X7 hybrid-electric eVTOL aircraft, aiming to set a new benchmark in the industry for performance and visual appeal [1][5]. Company Overview - Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace engineering company developing one of the world's first hybrid eVTOL aircraft, designed to operate like a conventional aircraft while offering superior speed, range, and operational utility [7]. - The company focuses on safety, performance, and utility in its unique designs, with plans to complete testing and certification of the Cavorite X7 and scale production to meet demand from various sectors including regional operators and military customers [7]. Collaboration Details - Andrea Mocellin, known for his work in aviation and automotive design, will refine the Cavorite X7's design, ensuring it is both technologically advanced and visually iconic [2][5]. - The collaboration aims to integrate functionality with aesthetics, enhancing efficiency, aerodynamics, and user experience, while the interior will be adaptable for multiple configurations [3][5]. Development Goals - The Cavorite X7 is designed for high performance, long-range capabilities, and operational flexibility, representing a significant advancement in hybrid-electric aviation [3]. - The partnership with Mocellin is expected to elevate the aircraft's design and reinforce Horizon Aircraft's commitment to innovation in eVTOL technology [4].

Core Insights - Horizon Aircraft has entered a strategic partnership with MT-Propeller to supply propellers for its hybrid eVTOL aircraft, marking a significant step in the company's transition from prototype to full-scale production [1][2][3] - The collaboration aims to enhance the performance of Horizon's Cavorite X7 aircraft by leveraging MT-Propeller's advanced composite technology, focusing on speed, efficiency, and noise reduction [2][3] - This partnership is crucial for Horizon Aircraft as it accelerates the journey towards certification and production readiness, positioning the company to transform regional air mobility [3] Company Overview - Horizon Aircraft is developing one of the world's first hybrid eVTOL aircraft, designed to operate like a conventional aircraft while offering superior speed, range, and operational utility [5] - The company aims to complete testing and certification of the Cavorite X7 eVTOL and scale production to meet anticipated demand from regional operators, emergency services, and military customers [5]

As filed with the U.S. Securities and Exchange Commission on August 15, 2024 Registration No. 333-280086 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 NEW HORIZON AIRCRAFT LTD. (Exact Name of Registrant as Specified in its Charter) British Columbia 3721 98-1786743 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer ...

As filed with the U.S. Securities and Exchange Commission on June 24, 2024 Registration No. 333-280086 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 NEW HORIZON AIRCRAFT LTD. (Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Offices) Brandon Robinson Chief Executive Officer 7219 Eventrail Drive Powell, OH, 43065 Tel: (613) 866-1935 (Name, Ad ...

As filed with the U.S. Securities and Exchange Commission on June 24, 2024 Registration No. 333-280086 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 NEW HORIZON AIRCRAFT LTD. (Exact Name of Registrant as Specified in its Charter) British Columbia 3721 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identific ...

As filed with the U.S. Securities and Exchange Commission on April 29, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 NEW HORIZON AIRCRAFT LTD. (Exact Name of Registrant as Specified in its Charter) British Columbia 3721 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 3187 Highway 35 ...