New Horizon Aircraft Ltd. HOVR

Company Overview

New Horizon Aircraft Ltd., operating as Horizon Aircraft, is a Canada-based aerospace and advanced air mobility company focused on the development of hybrid electric vertical takeoff and landing (eVTOL) aircraft. The company operates within the aerospace, aviation technology, and emerging advanced air mobility industries, with an emphasis on aircraft design and propulsion systems that combine vertical lift capability with conventional fixed-wing flight.

The company’s primary product is the Cavorite X7, a hybrid eVTOL aircraft designed to provide vertical takeoff and landing while achieving higher cruise speeds and longer range than many fully electric eVTOL concepts. Horizon Aircraft targets multiple customer segments, including regional air mobility operators, government and defense users, emergency services, and special mission aviation markets. Founded in 2018, the company evolved from early-stage aircraft concept development into a publicly listed entity following its business combination with Pono Capital Two, Inc., which enabled expanded access to capital markets to support certification and commercialization efforts.