New Horizon Aircraft (HOVR) Sidoti Micro-Cap Virtual Conference summary

Technology and product overview

• Developing a hybrid-electric vertical takeoff and landing aircraft with patented technology, capable of flying twice as fast and five times further than typical VTOLs, and designed for all-weather operations.

• Aircraft features a gas turbine engine that charges onboard batteries, eliminating the need for external charging infrastructure and enabling versatile missions.

• Unique design includes retractable wings and canards for low drag, allowing efficient forward flight and vertical landings in confined spaces.

• Safety and operational advantages include the ability to fly in bad weather and instrument flight conditions, integrating seamlessly into existing airspace.

• Significant dual-use potential for both civilian and military applications, including rapid deployment and emergency response.

Market opportunity and customer interest

• Targeting missions that currently use helicopters for point-to-point transport, especially emergency medical services, cargo delivery, and remote logistics.

• Offers up to 75% lower cost per mile compared to helicopters, with faster speeds and similar payload capacity.

• Strong interest from defense contractors, lessors, and operators, with demand increasing as technology is validated at full scale.

• Potential to disrupt business travel and logistics by leveraging underutilized regional airports and providing rapid, flexible transport.

• Positive feedback from demonstrations, with skepticism turning to enthusiasm as technical and economic benefits are understood.

Development, certification, and financials

• Full-scale prototype is under construction, with flight testing expected in the next 9–12 months and certification targeted before 2030.

• Certification pursued through Transport Canada, leveraging a specialized team and efficient regulatory environment.

• Recently raised CAD 45 million, providing over 24 months of development runway, with a focus on capital efficiency and minimizing shareholder dilution.

• Manufacturing strategy emphasizes partnerships and gradual vertical integration, including collaboration with Mitsubishi Heavy Industries.

• Business model centers on building and selling aircraft, not operating air taxi services, with additional revenue from maintenance and technology licensing.