Toronto, Canada . 06 September 2024 . New Horizon Aircraft Ltd. (NASDAQ: HOVR), doing business as Horizon Aircraft (“Horizon Aircraft” or the “Company”), the advanced aerospace engineering company and developer of an electric Vertical Take-Off and Landing (eVTOL) aircraft, has commissioned a study that indicates a strong return by investors to small- and micro-cap companies with unique and sustainable technologies may be imminent.
The global study with small and micro-cap fund managers in the US, Canada, Europe, the Middle East and Asia with collectively $82.4 billion assets under management, found that 76% of respondents anticipate the level of exposure to small and micro-caps from institutional investors to increase over the next six to 12 months. One in three (34%) fund managers believe allocations could increase by 25% or more.
Brandon Robinson, CEO of Horizon Aircraft commented, “Investors are once again being drawn to smaller public companies that offer much more upside potential. In our case, offering cutting edge aerospace technology that enables a new way to move people and goods around our crowded planet is a perfect example of how smaller companies are helping to build a better, more sustainable future.”
Horizon Aircraft is developing an eVTOL aircraft that stands out amongst its peers. With its patented HOVR wing technology that allows it to fly 98% of its mission in a configuration similar to that of a normal aircraft, featuring a hybrid power system that offers superior range, speed, and payload in its class, the Company believes that this aircraft could be a disruptive force of change within the regional air travel market.
Horizon Aircraft’s hybrid eVTOL, the Cavorite X7, is designed to perform at a speed of almost twice that of a comparable helicopter while operating at a materially lower cost. With an estimated maximum speed of 250 miles per hour and an average range of over 500 miles with fuel reserves, Horizon believes that this aircraft, if eventually licensed for commercial use, would be well-positioned to excel in medical evacuation, critical supply delivery, disaster relief, and special military missions.
The Company believes that flying most of the time as a normal aircraft is also safer and will make the aircraft easier to certify than other radical new eVTOL designs. The Cavorite X7 will be powered by a hybrid electric system that will recharge the battery array in-flight and post-flight, while also providing significant system redundancy. The Company is continuing the testing of its large-scale prototype and is in active design and manufacturing of a full-scale technical demonstrator aircraft.
