Horizon Aircraft is a Canadian aerospace startup developing the Cavorite X7, a hybrid-electric vertical takeoff and landing (eVTOL) aircraft targeting the Regional Air Mobility market — trips of 50 to 500 miles. The Cavorite X7 is a 7-seat aircraft that takes off and lands vertically but transitions to conventional fixed-wing flight for cruise, enabling speeds exceeding 250 mph and range over 500 miles. Horizon's core technology is a proprietary ducted fan-in-wing system (called HOVR Wing), which the company argues delivers better speed, range, and payload than open-rotor, purely electric competitors, while also enabling operation in remote areas without charging infrastructure. Horizon holds 31 issued and allowed patents covering this technology and related systems. The company is pre-revenue and pre-certification — it has completed flight testing of a 50%-scale prototype and is building a full-scale technical demonstrator, with Type Certification from Transport Canada targeted before 2030. Horizon's intended business model has two revenue streams: selling production aircraft to regional passenger, cargo, medical, and military operators, and licensing its IP to third parties across the eVTOL and broader aerospace industry. With 30 employees, Horizon is currently funded through equity raises and Canadian government grants, and is spending on R&D, prototype construction, and certification. Horizon went public in January 2024 via a SPAC merger with Pono Capital.