The Cavorite X7 is designed to fly safely in clouds and known icing conditions at faster speeds and lower operating costs than helicopters, aiming for undisrupted flight operations worldwide

TORONTO, ONTARIO / ACCESS Newswire / November 21, 2025 / New Horizon Aircraft Ltd. (NASDAQ:HOVR), doing business as Horizon Aircraft ("Horizon Aircraft" or the "Company"), an advanced aerospace engineering company and developer of one of the world's first hybrid electric VTOL (Vertical Take-Off and Landing) aircraft, continues its progress in building its Cavorite X7 to fly under Instrument Flight Rules (IFR) allowing the aircraft to fly in clouds, a differentiating feature no other eVTOL has achieved. The Cavorite X7 is also being built to certify for Flight Into Known Icing (FIKI), both certifications held by only a small handful of expensive, heavyweight helicopters. The Cavorite X7 aims to be able to fly critical missions such as medevac, search and rescue, and critical goods delivery reliably and year-round, with enhanced safety, speed, and lower operating costs.

With an ability to get in and out of difficult and inaccessible locations, helicopters serve many crucial functions. However, a helicopter's exposed rotor blades are susceptible to ice formation that can cause damage, severe instability, and loss of lift. These significant safety risks result in flight cancellations, a hold on emergency dispatch, and for the Canadian Coast Guard, interruptions and failures of marine aids to navigation.

"As a seasoned commercial helicopter pilot, I have experienced firsthand how known icing conditions can force delays, cancellations, and operational setbacks," stated Horizon Aircraft Senior Technical Project Manager, Vincent Hoog. "I joined Horizon Aircraft because the technology on the Cavorite X7 provides a real solution to these problems, and its enhanced performance will be able to serve more people and communities worldwide when they need it most."

This month, the Company kicked off its collaborative all-weather vertical propulsion project that was recently awarded a non-dilutive grant from Canada's INSAT program (The Initiative for Sustainable Aviation Technology). Advanced ice detection and protective technologies such as ice-phobic and electrothermal coating solutions will be tested on the Cavorite X7, preparing the aircraft to be certified to fly under IFR and in FIKI conditions.

Horizon Aircraft Co-Founder and CEO, Brandon Robinson stated, "The Cavorite X7 is one of the only modern VTOL aircraft designed to fly in clouds. This significant differentiator will provide all-weather operations with improved performance for all real-world operations. Horizon is currently building our full-scale aircraft and has secured sufficient capital and scaled our engineering team by 50% this year to be ready for testing."

For more information about Horizon Aircraft, please see the Company's website or watch its innovative technology in action on the Company's YouTube channel.

About Horizon Aircraft

Horizon Aircraft (NASDAQ:HOVR) is an advanced aerospace engineering company that is developing one of the world's first hybrid electric VTOLs designed to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon Aircraft's unique designs put the mission first and prioritize safety, performance, and utility. Horizon Aircraft intends to successfully complete testing and certification of its Cavorite X7 hybrid electric VTOL and then scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.

For further information, visit:

Website www.horizonaircraft.com
LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc

For further information, contact:

Investors:

Matt Chesler, CFA
FNK IR LLC
(646) 809-2183
HOVR@fnkir.com

Media:

Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
edwina@efgmediarelations.com

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "target," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL prototype for initial testing, development priorities and technical milestones; funding and liquidity sufficiency and runway; certification and testing plans; and potential production, partnership, supply chain and market opportunities.

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon Aircraft will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Horizon Aircraft's industry and market size; (v) financial condition and performance of Horizon Aircraft, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft; (vi) Horizon Aircraft's ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon Aircraft's Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft's Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company's public filings with the Securities and Exchange Commission ("SEC") and under the Company's profile on sedarplus.ca, including the disclosures under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2025, filed with the SEC and filed under the Company's profile on sedarplus.ca on August 22, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

Readers are cautioned not to put undue reliance on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable law. Horizon Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.

SOURCE: Horizon Aircraft