Jan. 14 at 1:14 PM
$HOVR From this morning's news release:
"Highlights include:
Made significant development progress on its full-scale hybrid-electric Cavorite X7 aircraft with expected assembly of the first prototype in 2026 and initial testing in early 2027;
Strengthened liquidity with more than
$24 million of cash on hand, positioning Horizon Aircraft with sufficient capital to achieve its goals through 2026;
Enhanced operational efficiency, reflected in lower administrative costs relative to increased R&D as full-scale aircraft production advances;
Awarded a non-dilutive grant under the INSAT (The Initiative for Sustainable Aviation Technology) program for an estimated
$10.5 million all-weather eVTOL project; and
Doubled its highly experienced engineering team year over year, with plans to double headcount again by the end of 2026."
