Horizon Aircraft

Last updated

New Horizon Aircraft Ltd.
Horizon Aircraft
Company type Public
ISIN CA64550A1075
Industry Aviation, Advanced Air Mobility
Founded2013;12 years ago (2013)
Founders
  • Brian Robinson
  • Brandon Robinson
Headquarters
Lindsay, Ontario, Canada
Area served
Worldwide
Key people
Brandon Robinson (CEO), Brian Robinson (CTO), Jason O'Neill (COO), Brian Merker (CFO)
ProductsElectric Vertical Takeoff and Landing aircraft
Increase2.svg $5.2 million (2025)
Total assets Increase2.svg $8.4 million (2025)
Total equity Increase2.svg $2.6 million (2025)
Number of employees
22 (2025)
Website horizonaircraft.com

New Horizon Aircraft Ltd. is a publicly traded company headquartered in Lindsay, Ontario, which is developing a hybrid eVTOL aircraft for regional air mobility.

Contents

It is designing the Horizon Cavorite X7 as a hybrid-electric 6-passenger aircraft that has electric fans for vertical takeoff and landing and a turboprop engine for forward flight. Horizon Aircraft expects that its hybrid architecture will result in greater range compared to electric-only VTOL aircraft, while having 20–30% lower operating costs and twice the speed of a traditional helicopter. [1] Development of a full-scale prototype is ongoing with the intent of having the Cavorite X7 certified and flying before 2030. [2]

History

Horizon Aircraft was founded in 2013 by Brian and Brandon Robinson to develop an amphibious aircraft. [3] After investigating available technologies, the company pivoted to developing an electric VTOL aircraft augmented by conventional propulsion. In June 2021, Horizon was acquired by Astro Aerospace Ltd. in an all-stock deal. In August 2022, Astro and Horizon agreed to unwind the deal and Horizon was sold back to its original shareholders. [3] In September 2023, Horizon announced that their planned full-scale aircraft would be scaled up from the 5-seater Horizon Cavorite X5 to a 7-seater called the Horizon Cavorite X7 after positive results from flight tests. [4] A few months later in 2024, Horizon merged with the special-purpose acquisition company Pono Capital Three to go public on the Nasdaq stock exchange, and signed a letter of intent to sell 50 Cavorite X7 aircraft to the Indian private jet operator JetSetGo. [5] As of October 2025, Horizon Aircraft has approximately 22 employees. [6]

See also

References

  1. ↑ "Horizon Bets on Extended Range with Hybrid Cavorite X7". evtol.news. Retrieved 2025-10-17.
  2. ↑ Bailey, Joanna (2025-06-26). "Horizon Aircraft plans 1st flight for Cavorite eVTOL in 2026". AGN. Retrieved 2025-10-18.
  3. 1 2 NEW HORIZON AIRCRAFT LTD. Form 10-K Annual Report for the fiscal year ended May 31, 2025 (Report). 2025-08-22. p. 5. Retrieved 2025-10-17.
  4. ↑ O'Neill, Jason (2023-09-29). "Horizon Aircraft Announces Shift to 7-Seat Hybrid Electric eVTOL Aircraft Concept". Horizon Aircraft. Retrieved 2025-10-17.
  5. ↑ "Horizon Aircraft Goes Public, Secures Order for Up to 100 Hybrid-Electric Models". www.flyingmag.com. 2024-01-17. Retrieved 2025-10-18.
  6. ↑ "Horizon Aircraft: About". LinkedIn. Retrieved 2025-10-17.
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