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Horizon Aircraft “Enjoys Tremendous Start to 2024”

Bran­don Robin­son, Chair­man and CEO of Hori­zon Air­craft, is enjoy­ing, along with his team, “a tremen­dous start to 2024”, reports a press release.

Key Oper­at­ing High­lights Include:-

: Suc­cess­ful­ly Com­plet­ing a SPAC with Pono Cap­i­tal Three and float­ing on the Nas­daq as a pub­lic com­pa­ny (Tick­er Sym­bol: HOVR).

: Signed a Let­ter of Intent (LOI) with Jet­Set­Go, a region­al avi­a­tion fleet oper­a­tor serv­ing the Indi­an mar­ket, for an ini­tial pur­chase of 50 Cavorite X7 air­craft with an option to buy a fur­ther 50 craft for a total sum of close to USD500 mil­lion.

: Began exe­cu­tion of the tran­si­tion to for­ward flight-test pro­gram for the Cavorite X7 large-scale pro­to­type. The tri­al is going well. It is expect­ed that these tests could achieve mea­sur­able results dur­ing May with sev­er­al tri­al dates sched­uled.

: Detailed design of the Full-Scale eVTOL Pro­to­type con­tin­ues. The com­pa­ny has applied results from its ongo­ing pro­gram includ­ing flight and wind tun­nel tests along­side dig­i­tal twin stud­ies, to improve the air­craft design. Hori­zon is prepar­ing to com­mence assem­bly of its full-scale craft lat­er this year, with test­ing expect­ed to begin in 2026.

Robin­son com­ment­ed, “Hori­zon has had  a tremen­dous start to 2024. After suc­cess­ful­ly com­plet­ing the busi­ness com­bi­na­tion, we were able to con­tin­ue mak­ing sig­nif­i­cant tech­ni­cal progress on our unique hybrid elec­tric eVTOL devel­op­ment pro­gram.”

He con­tin­ued, “Our prac­ti­cal and cap­i­tal effi­cient approach has res­onat­ed with investors and oper­a­tors alike. I am incred­i­bly proud of the team, our progress, and our dif­fer­en­ti­at­ed place in the Advanced Air Mobil­i­ty mar­ket.”

The Cavorite X7 fea­tures a patent­ed wing sys­tem allow­ing it to fly the major­i­ty of its mis­sion in a con­fig­u­ra­tion sim­i­lar to that of a nor­mal air­craft. The air­craft will also use a hybrid elec­tric main pow­er sys­tem that promis­es to be effi­cient, safe, and able to re-charge its bat­ter­ies in flight and after land­ing. 

Mean­while, Hori­zon Aircraft’s man­age­ment team are par­tic­i­pat­ing in the fol­low­ing upcom­ing investor events:-

: Sidoti Vir­tu­al Micro-Cap Con­fer­ence (Wednes­day, May 8th-9th).

: EF Hut­ton Annu­al Investor Con­fer­ence (Wednes­day, May 15th at Plaza Hotel, New York).

For more infor­ma­tion

www.horizonaircraft.com

(Top image: Hori­zon Air­craft)

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