Horizon Aircraft (“Company” or “Horizon”), an innovative leader in hybrid electric Vertical Take-off and Landing (VTOL) aerial vehicles, announced today that it has successfully completed initial hover testing of its “Cavorite X5” scale prototype.
Brandon Robinson, CEO of Horizon Aircraft said, “this aircraft has exceeded expectations during initial hover testing. It is extremely stable, is capable of full hover at only 65% power, and has hovered with 20% of its fans purposely disabled in order to test system redundancy. This is a large-scale aircraft, with a 22-foot wingspan, over 15 feet in length, and capable of speeds over 175 mph. It continues to yield valuable data that is constantly improving our full-scale design.”
Horizon’s innovative and patented eVTOL concept allows the aircraft to fly 98% of its mission in a very low-drag configuration like a traditional aircraft and is one of the only eVTOL aircraft currently able to do so. Flying most of the mission as a normal aircraft is safer, more efficient, and will be easier to certify than radical new eVTOL designs. The full-scale aircraft will also be powered by a hybrid electric system that can recharge the battery array in-flight while providing additional system redundancy.
Horizon Aircraft plans to move to transition flight testing in Q1 2023 at the world class ACE Climatic Wind Tunnel located near Toronto, Ontario.
About Horizon Aircraft Inc.
Horizon Aircraft is an advanced aerospace engineering company that has developed the world’s first eVTOL that can fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Our unique designs put the mission first and prioritize safety, performance, and utility. Our Cavorite X5 eVTOL is designed to enter the market quickly and service a broad spectrum of early use cases.
FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction.
Visit www.horizonaircraft.com for more information.
