hVTOL developer Horizon Aircraft has reported its financial and operational results for the fourth quarter of fiscal 2026 ending May 31, 2026 which revel that the company closed the year with reserves of USD78.3 million which it says delivers 24 months of liquidity in support of its certification and manufacturing plans.
The company announcement also highlighted the recent advances made on the development of its Cavorite X7 hybrid VTOL (hVTOL) notably the deal with BETA Technologies which will see it use BETA’s fly by wire architecture on the X7 as well as its plans for manufacture of the aircraft through deals with RAMPF Composite Solutions for the main fuselage and empennage structures and North Aircraft Industries for the Company’s patented wing architecture.
“This year marked a transformational period in which Horizon Aircraft moved from technology validation to full-scale aircraft development,” said Brandon Robinson, Co-Founder and CEO. “With our strong balance sheet, increasing strategic partnerships, and a technical team that is executing our development roadmap, I couldn’t be happier about the future.”
The company expects upcoming development milestones to include continued subsystem integration, advancement of the full-scale prototype build, expansion of the engineering organisation, and ongoing engagement with certification authorities and strategic suppliers.
Image: Horizon Aircraft
