TORONTO - New Horizon Aircraft Ltd. (NASDAQ:HOVR) announced today that Marshall Aerospace has completed a flight dynamics and control model for the company’s Cavorite X7 hybrid-electric vertical takeoff and landing aircraft, according to a press release statement.
Marshall Aerospace conducted analysis to model the X7’s aerodynamic, propulsion and mass characteristics. The work produced a six degrees of freedom flight model designed to support development of the aircraft’s control system and predict how the aircraft responds to control inputs.New Horizon Aircraft, with a market cap of $140 million, has delivered strong returns despite recent volatility, posting a 107% gain over the past year. The stock trades at $2.26, below InvestingPro’s Fair Value estimate, placing it among undervalued stocks. InvestingPro data shows the company holds more cash than debt, supporting its development initiatives.
The partnership leverages Marshall’s experience with platform modifications and special mission conversions. Marshall Aerospace is a British aerospace and defense company that has specialized in C-130 Hercules support since 1966.
"The delivery of the first flight model for the Cavorite X7 marks a strong start to our partnership with Marshall Aerospace," said Tom Brassington, Horizon Aircraft Chief Technology Officer.
Mark Hewer, Aero Engineering Services Director at Marshall Aerospace, said the program demonstrates how the company’s engineering experience applies to complex challenges.
Horizon Aircraft is developing a hybrid-electric VTOL aircraft designed to fly most of its mission in wing-borne flight. The company intends to scale production following testing and certification to serve regional operators, emergency service providers and military customers.
The Cavorite X7 is currently in development and has not completed testing or certification.
In other recent news, New Horizon Aircraft Ltd. completed a registered direct offering of 9,960,160 Class A Ordinary Shares, raising approximately $25 million in gross proceeds. This transaction, involving the company’s largest existing U.S. institutional shareholders, aims to fund the completion and advancement of the Cavorite X7 prototype toward testing, certification, and commercial production. Additionally, New Horizon Aircraft has been progressing with the dual-use certification for its hybrid-electric VTOL aircraft, the Cavorite X7, in partnership with Cert Center Canada. This collaboration has integrated dual-use certification considerations into the aircraft’s initial design. In another development, the company recently completed a separate direct offering of 9,254,889 Class A Ordinary Shares, generating around $20 million in gross proceeds. The proceeds from this offering are intended to accelerate the development of the Cavorite X7 program, along with supporting working capital and general corporate purposes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Most traders can read a chart. The hard part is the moment: entry window open, pattern forming, and you're still waiting for more confirmation. That's the conviction gap — and our chart analysis closes it. Unlike other AIs that just read data, our Vision AI literally "sees" your charts and hands you a complete trading plan: entry, stop-loss, and profit target in under 60 seconds. Know exactly what to do next, every time.