New Horizon Aircraft Ltd.

New Horizon Aircraft Ltd. is an advanced aerospace Original Equipment Manufacturer (OEM) that designs a next-generation hybrid-electric Vertical Takeoff and Landing (eVTOL) aircraft for the Regional Air Mobility (RAM) market. The company's aircraft is intended to facilitate the movement of people and goods regionally, covering distances from 50 to 500 miles, and to connect remote communities. It also aims to enhance capabilities for responding to climate-related natural disasters such as wildfires, floods, or droughts. The primary product is the Cavorite X7, a hybrid-electric 7-seat aircraft. This aircraft is designed to take off and land vertically, similar to a helicopter. However, for most of its flight, the Cavorite X7 operates in a configuration resembling a traditional aircraft, enabling it to fly faster, farther, and more efficiently than a conventional helicopter. It is expected to achieve speeds exceeding 250 miles per hour and a range over 500 miles. The Cavorite X7's design incorporates the company's patented fan-in-wing technology, referred to as the "Horizon Omni-modal Vertical (HOVR) Wing" or "HOVR Wing." This technology has undergone development and testing over several years. Unlike many competitors in the Advanced Air Mobility (AAM) industry that utilize open rotor designs, the HOVR Wing employs a series of ducted electric fans positioned inside the wings to generate vertical lift. Following vertical takeoff, the aircraft accelerates forward. The eVTOL aircraft market is a new and developing sector, driven by innovations in batteries, light materials, computing power, simulation, and propulsion technology.