Horizon Aircraft Partners with MT-Propeller for Hybrid eVTOL Propulsion

This agreement represents Horizon Aircraft’s first major hardware commitment for the full-scale production aircraft, marking a pivotal milestone in the Company’s transition from prototype to real-world implementation

TORONTO, June 13, 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 the world’s first hybrid eVTOL (electric Vertical Take-Off and Landing) aircraft, announces a strategic partnership with MT-Propeller, a global leader in advanced propeller technology, to supply propellers for Horizon’s hybrid turbine engine.

This collaboration will leverage MT-Propeller’s cutting-edge composite propeller expertise, delivering maximum speed, efficiency, and significant noise reduction for the Company’s Cavorite X7 in development. The hybrid-electric aircraft, uniquely designed for both vertical takeoff and conventional runway operations, will benefit from MT’s innovative, quiet, and high-efficiency propeller solutions.

"Partnering with MT-Propeller underscores Horizon’s commitment to delivering a superior flying experience," said Brian Robinson, Chief Engineer at Horizon Aircraft. "Together, we’re setting new standards for range, speed, and efficiency with our regional eVTOL. In particular, MT-Propeller’s world-leading low-noise design is well suited for operations around cities."

Martin Albrecht, Managing Director of MT-Propeller, added, "We’re excited to support Horizon Aircraft’s vision with our certified propellers, enhancing performance and sustainability in the fast-evolving eVTOL market."

This partnership marks a critical step toward certification and production readiness, accelerating Horizon Aircraft’s journey to transform regional air mobility.

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 that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon intends to successfully complete testing and certification of its Cavorite X7 eVTOL and then scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.

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 (including, without limitation, the anticipated benefits of the Reverse Stock Split, including the effect the Reverse Stock Split will have on the Company’s ability to regain compliance with the Nasdaq Listing standards) 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) other factors detailed by us in the Company’s public filings with the Securities and Exchange Commission, including the disclosures under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on August 15, 2024, as amended on March 17, 2025, and the Company’s Quarterly Reports on Form 10-Q filed with the SEC on October 10, 2024, January 14, 2025 and April 14, 2025 for the first, second and third quarters of fiscal year 2025, respectively, accessible at www.sec.gov. 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 the Company may elect to update these forward-looking statements at some point in the future, it assumes 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
(646) 809-2183
HOVR@fnkir.com

Media:
Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
edwina@efgmediarelations.com

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