New Horizon Aircraft Ltd. $HOVR

What the company doesAI summary of filing

New Horizon Aircraft Ltd. is an aerospace manufacturer designing and developing the Cavorite X7, a hybrid-electric vertical takeoff and landing (eVTOL) aircraft intended for the regional air mobility market, which serves distances between 50 and 500 miles. The company generates no material revenue from aircraft sales, as it is in the pre-revenue development stage and cannot deliver commercially produced aircraft until obtaining type certification from Transport Canada Civil Aviation (TCCA), a process expected to take several years and targeted for completion prior to 2030. The company's business model is based on manufacturing and selling the Cavorite X7 aircraft for civilian and military use, and potentially licensing its proprietary fan-in-wing technology (HOVR Wing) to third parties. To date, the company has built and tested a 50-percent scale prototype and is currently constructing a full-scale technical demonstrator aircraft; it has also received government grants exceeding CAD 12 million and holds 31 issued and allowed patents protecting its core technologies. [10-K 2026-07-16]

Segments: Cavorite X7 aircraft (hybrid-electric eVTOL), HOVR Wing technology licensing