Brandon Robinson, CEO of Horizon Aircraft, flew CF-18s in the Royal Canadian Air Force for two decades. He also managed capital projects for the Royal Canadian Air Force worth up to $4bn CAD, including the acquisition of F-35A fighter jets.
Horizon Aircraft recently appointed Phil Kelly as Senior Vice President Business Development. His career in aerospace spans four decades, from his strike fighter experience in flying Sea Harrier FA2, Harrier GR7/9A and F/A-18E/F aircraft to his last role as Head of Aircraft Development for the Royal Navy, where he led eVTOL development and introduced the F-35B for the UK Royal Navy and Royal Marines.
Toronto, Canada – 9th October 2024 – New Horizon Aircraft (NASDAQ: HOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), a leading hybrid electric Vertical TakeOff and Landing (“eVTOL”) aircraft developer, believes the fan-in-wing technology it is using for its Cavorite X7 is ideal for military aviation operations that require operational flexibility, reduced noise signature, speed and access.
Brandon Robinson, CEO of Horizon Aircraft said: “The Cavorite X7’s robust technology of fan-in-wing means its rotors are not only protected, but they also reduce the noise signature over an open rotor design, two features that should appeal greatly to the military.”
Horizon Aircraft believes there are three main military roles the Cavorite X7 could be considered for:
Medical Evacuation. Speed is essential here. The ability to move a casualty to a primary point of care within the ‘golden hour’ is vital. For example, the MV-22 has saved many lives and the Cavorite X7 could do the same but would use fewer military resources being a smaller aircraft, properly sized for casualties and medical personnel.
Insertion/Extraction. The Cavorite X7 has capacity for six passengers in civilian guise. It can carry four passengers fully equipped for military use –the ‘standard makeup’ of a reconnaissance or special operator team. This, coupled with the significant noise reduction over open rotor aircraft, makes the X7 ideal for covert or discrete operations.
ISR (Intelligence Surveillance and Reconnaissance). With the USMC adage of ‘every platform a sensor’, the Cavorite X7 as a turboprop aircraft has the power (est. 100kW) to support multiple sensors to provide overwatch for the ‘warfighter’. It can loiter in ‘wings-closed’ mode for a significant amount of time.
Brandon Robinson added: “Military budgets are increasing at a time when there is a growing focus on how to enhance military aviation capabilities, while reducing their environmental impact. As the eVTOL sector rapidly evolves, it will play a growing role in supporting military operations, and we believe that our Cavorite X7 is well positioned to capitalise on this.”
Horizon Aircraft’s Cavorite X7 aircraft will have a gross weight of an estimated 5,500 lbs with a projected useful load of 1,500 lbs. With an estimated maximum speed of 250 miles per hour and an average range of over 500 miles with fuel reserves, Horizon believes that this experimental aircraft, if eventually licensed for commercial use, would be well-positioned to excel in medical evacuation, critical supply delivery, disaster relief, and special military missions. The Company believes that the proposed aircraft would also be attractive for Regional Air Mobility – moving people and cargo 50 to 500 miles.
Unlike many in its category, the Cavorite X7 is being designed with a hybrid electric power system. The Company is designing the Cavorite X7 such that it could, after its vertical takeoff, re-charge its batteries enroute when it is flying in a configuration like a traditional aircraft. After a vertical landing and completion of a mission, the Company is designing the Cavorite X7 to recharge its own battery array with no ground charging infrastructure required to be ready for its next mission.
Phil Kelly, Senior Vice President Business Development said: “The Cavorite X7 is the aircraft commandos have been waiting for. A low acoustic signature, long-range, high-speed insertion aircraft right-sized for discrete commando missions while also capable of air portability and ship borne operations with the wing fold. It is affordable, maintainable and less expensive to operate which will allow even modest military budgets to get real value for money and governments to get real return on investment. Used in the ISR role it can host airborne radars and other payloads that have significant power demand. It is a brilliant design that has real growth potential.”
Horizon believes that its innovative approach and technology will allow the Cavorite X7 to fly 98% of its mission in a very low-drag configuration like a traditional aircraft. The Company believes that flying most of the time as a normal aircraft is also safer and will make the aircraft easier to certify than other radical new eVTOL designs. The Cavorite X7 will be powered by a hybrid electric system that will recharge the battery array in-flight and post-flight, while also providing significant system redundancy. The Company is continuing the testing of its 50%-scale aircraft that it believes will reduce technical risk moving forward as it continues to develop its full-scale aircraft.
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About Horizon Aircraft
Horizon Aircraft (Nasdaq: HOVR) is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a traditional aircraft while offering industry-leading speed, range, and operational utility. Horizon’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visit www.horizonaircraft.com for more information.
Forward-Looking Statements
The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the ability of the parties to recognize the benefits of the business combination agreement and the business combination; (iv) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (v) statements regarding Horizon’s industry and market size; (vi) financial condition and performance of Horizon, including the anticipated benefits, the implied enterprise value, the expected financial impacts of the business combination, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon; (vii) Horizon’s ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (viii) successful completion of testing and certification of Horizon’s Cavorite X7 eVTOL; (ix) the targeted future production of Horizon’s Cavorite X7 aircraft; and (x) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the Proxy Statement and other documents to be filed by New Horizon from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Horizon may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Horizon does not give any assurance that Horizon will achieve its expectations.
