New Horizon Aircraft (NASDAQ:HOVR) is positioning its planned vertical takeoff and landing aircraft as a faster, longer-range and lower-cost alternative to helicopters for certain transportation missions, according to a company presentation led by Brandon, the presenter identified by the moderator.
Brandon said the company is building an aircraft designed to take off and land vertically “just like a normal helicopter,” then transition to fly like a conventional airplane for most of its mission. He said a full-scale aircraft is expected to be ready for ground testing in the next nine to 12 months, with flight testing expected in 2027 and certification targeted before 2030.
Hybrid-electric aircraft aimed at longer-range missions
Brandon described the aircraft as a hybrid-electric design using a gas turbine engine and onboard generator to recharge a smaller battery array while airborne. He said that approach is intended to avoid the need for dedicated charging infrastructure, which he contrasted with all-electric aircraft that may require charging at vertiports between flights.
The company says its aircraft is designed to reach 250 miles per hour and travel up to 500 miles. Brandon characterized those figures as roughly twice the speed of a typical helicopter and about five times the range of many vertical takeoff and landing companies in the sector.
The presenter said the aircraft uses five ducted fans in the main wings and two in the front canards for vertical flight. Once moving forward, a rear pusher propeller accelerates the aircraft, and the wings and canards close to create a low-drag configuration similar to a conventional airplane.
Company highlights emergency, cargo and military applications
Brandon said the strongest early areas of interest include emergency medical services, organ transport, time-sensitive drug delivery, cargo to remote locations and military missions. He said the aircraft could be useful in situations where helicopters are primarily moving people or goods from one place to another, rather than hovering for long periods.
He cited potential uses in remote communities, including northern Canada, where logistics can be expensive and difficult. Brandon also said the aircraft could support disaster response because it would not depend on local charging infrastructure and could potentially supply electrical power to remote medical stations.
On the defense side, Brandon said the aircraft’s runway independence could make it useful for special operations, pilot recovery and other missions requiring access to remote locations without prepared landing strips. He said the company designed the aircraft so that two units could fit inside a C-17 aircraft for rapid deployment.
Cost and weather claims compared with helicopters
Brandon said Horizon expects the aircraft to be about 75% cheaper per mile than a comparable helicopter. He said that estimate reflects both lower hourly operating costs and the fact that the aircraft is expected to travel about twice as far in the same amount of time.
He also said the aircraft is being designed to fly in bad weather, cold weather and instrument flight rules conditions, using existing aviation infrastructure rather than requiring a new air-traffic system. Brandon contrasted that with many helicopter operations, which he said can be limited by clouds and poor weather.
In response to a question about customer feedback, Brandon said potential customers are often skeptical at first about the company’s cost and performance claims. However, he said interest has increased as people study the technology, including from defense prime contractors, civilian lessors and organizations that currently use helicopters for transport.
Funding, certification and manufacturing plans
Brandon said the company has about CAD 45 million in the bank, which he said should fund more than 24 months of development. He said Horizon is focused on capital efficiency and acknowledged that future dilution is likely as the company continues to fund aircraft development and certification.
“We’d be lying if we said there’s not going to be dilution in the future,” Brandon said, while adding that the company is committed to keeping dilution to a minimum for retail shareholders.
Brandon said the company is pursuing certification through Transport Canada Civil Aviation and is working with Dr. John Maris, a board member and founder of Cert Center Canada. He said Horizon is focused in the near to medium term on building aircraft rather than operating an air taxi service.
On manufacturing, Brandon said Horizon does not expect to vertically integrate as extensively as some companies in the advanced air mobility sector. He said the company is working with partners with production and certification capabilities, including Mitsubishi Heavy Industries, and also referenced relationships with Pratt & Whitney Canada, Bell and the U.S. Air Force’s AFWERX program.
Brandon closed by saying the company is approaching an important milestone as it prepares to roll out a full-scale aircraft for testing. “It’s going to be exciting six-12 months,” he said.
About New Horizon Aircraft (NASDAQ:HOVR)
New Horizon Aircraft Ltd., an aerospace original equipment manufacturer company, focuses on designing and developing hybrid electric vertical takeoff and landing (eVTOL) aircraft for the regional air mobility market in the Uinted States. The company is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically like and helicopter. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.
