New Horizon Aircraft Announces That It Has Received A $450K Applied Research And Development Grant From The Natural Sciences And Engineering Research Council Of Canada To Support The Development Of Horizon's Hybrid-Electric Vertical Take-Off And Landing Aircraft

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 hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft, today announced that, together with its collaboration partners, it has received a Natural Sciences and Engineering Research Council (NSERC) of Canada Applied Research and Development (ARD) grant totaling $450,000, bringing the total NSERC Federal funding collaborative to more than $3.4 million. Fleming College and Ontario Tech University bring complementary strengths in applied engineering and advanced manufacturing, supporting Horizon Aircraft's hybrid‑electric eVTOL development through a multi-year NSERC-funded collaboration.

"I am grateful for the Canadian government's continued support of Horizon Aircraft," said Brandon Robinson, CEO of Horizon Aircraft. "Canada's continued support demonstrates the recognition of the strategic importance of cutting-edge aerospace development and that it is clearly looking to build upon that national strength. This support has accelerated our ability to attract and retain skilled workers, develop world-class innovative technologies, and bolster Canadian industry. This type of non-dilutive financing is a significant win for our expanding shareholder base that is showing commitment and confidence in our team's ability to execute."