Horizon Aircraft appoints Justin Chapman as senior advisor to enhance technical development of its Cavorite X7 hybrid eVTOL aircraft.
Quiver AI Summary
New Horizon Aircraft, operating as Horizon Aircraft, has announced the appointment of Justin Chapman to a senior advisory role, where he will leverage his extensive expertise in aircraft systems development, particularly in electronics, batteries, and electric propulsion. With a notable background in electric propulsion from his previous senior positions at Rolls-Royce, Chapman will contribute to the company's flagship project, the Cavorite X7 hybrid eVTOL aircraft, which emphasizes operational performance and safety. Horizon’s Chief Technology Officer, Tom Brassington, expressed enthusiasm for Chapman's involvement, anticipating it will enhance their development and risk management for the Cavorite X7. Horizon Aircraft aims to advance its eVTOL technology and successfully enter the market, catering to various early use cases.
Potential Positives
- Justin Chapman, an industry expert in electric propulsion, has joined Horizon Aircraft in a senior advisory role, enhancing the technical development team for the Cavorite X7 project.
- Chapman's extensive experience from Rolls-Royce is expected to aid in advancing and de-risking the development of Horizon's hybrid eVTOL aircraft.
- The company's dedication to creating a safe and reliable piloted full-size demonstrator signals strong commitment to innovation in the aerospace industry.
- Horizon Aircraft aims to complete testing and certification of the Cavorite X7 quickly, positioning itself for potential market entry and early use cases in the evolving eVTOL market.
Potential Negatives
- The press release heavily emphasizes Mr. Justin Chapman's expertise and advisory role, which may indicate a lack of confidence in the existing leadership and technical team at Horizon Aircraft.
- The mention of various risks and uncertainties surrounding Horizon's future performance and ability to develop its aircraft suggests significant challenges ahead, which could impact investor sentiment and stock performance.
- The forward-looking statements caution readers against placing too much reliance on them, indicating potential instability in meeting future targets or expectations, which may deter potential investors and stakeholders.
FAQ
What is Horizon Aircraft's primary focus in aerospace engineering?
Horizon Aircraft primarily focuses on developing hybrid eVTOL aircraft designed for real-world performance, safety, and practicality.
Who is Justin Chapman and what role will he play?
Justin Chapman is a senior advisor at Horizon, contributing expertise in aircraft systems including electronics and electric propulsion.
What is the Cavorite X7 project?
The Cavorite X7 is Horizon's flagship hybrid eVTOL aircraft aimed at delivering high speed, range, and operational utility.
How does Horizon Aircraft prioritize safety and performance?
Horizon Aircraft prioritizes mission-centred designs that emphasize safety, performance, and operational utility in their aircraft development.
Where can I find more information about Horizon Aircraft?
More information about Horizon Aircraft can be found on their official website and their YouTube channel showcasing their technology.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- New Horizon Aircraft (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 operationally-focused hybrid-eVTOL (electric Vertical Take-Off and Landing) aircraft, announced today that Justin Chapman will be supporting the Company in a senior advisory capacity, contributing his extensive expertise to the technical development of aircraft systems, including electronics, batteries, and electric propulsion.
Mr. Chapman brings decades of engineering leadership and deep domain knowledge to Horizon Aircraft. Widely regarded as an expert in electric propulsion and energy systems for aviation, he has held senior roles, such as Chief of Electronics and Chief of FADEC (Full Authority Digital Engine Control) at Rolls-Royce, where he helped lead some of the industry’s most advanced aerospace technology initiatives.
“I’m thrilled to be supporting Horizon Aircraft in their revolutionary Cavorite X7 project,” said Justin Chapman recently. “My initial activities on the project have shown me a company of highly dedicated and talented people who are all striving to deliver an innovative product into a very challenging arena. I will use all my experience from aerospace and beyond to help develop the full-scale demonstrator. I’m excited to be a small part of Horizon’s ‘Real World Ready’ hybrid eVTOL.”
Tom Brassington, Chief Technology Officer at Horizon Aircraft, added: “I am delighted to work with Justin again. He brings a rare combination of world-class electronics, propulsion, and control systems knowledge to Horizon. His efforts will advance and de-risk our Cavorite X7 development programs, helping us achieve our goal to produce a safe and reliable piloted full-size demonstrator.”
Mr. Chapman’s involvement will strengthen Horizon’s technical development team, as the Company advances the design and construction of its flagship Cavorite X7 aircraft—an innovative hybrid eVTOL platform purpose-built for real-world performance, safety, and practicality.
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 eVTOL aircraft that is to be able to fly most of its mission like a normal plane while offering industry-leading speed, range, and operational utility. Horizon’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon hopes to successfully complete testing and certification of its Cavorite X7 eVTOL quickly and then enter the market and service a broad spectrum of early use cases. Visit www.horizonaircraft.com for more information.
Forward-Looking Statements
The information in 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. 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,” “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 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 competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the ability of the parties to recognize the benefits of the business combination agreement and the business combination; (iv) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (v) statements regarding Horizon’s industry and market size; (vi) financial condition and performance of Horizon, including the anticipated benefits, the implied enterprise value, the expected financial impacts of the business combination, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon; (vii) Horizon’s ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (viii) successful completion of testing and certification of Horizon’s Cavorite X7 eVTOL; (ix) the targeted future production of Horizon’s Cavorite X7 aircraft; and (x) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the Proxy Statement and other documents to be filed by New Horizon from time to time with the SEC. 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 Horizon may elect to update these forward-looking statements at some point in the future, they assume 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 does not give any assurance that Horizon will achieve its expectations.
Contacts
Investors:
Matt Chesler, CFA
FNK IR
(917) 312-2181
[email protected]
Media:
Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
[email protected]