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Horizon Aircraft Secures INSAT Grant for eVTOL Advancement

Stock price chart of Horizon Aircraft (EBR:HOVR) showing fluctuations.

Horizon Aircraft, a prominent aerospace engineering firm, has received a significant financial boost with a $2 million grant from the INSAT program to support its $10.5 million Project CRYSTAL. The initiative, in collaboration with the University of Toronto and Certification Center Canada, aims to develop a groundbreaking all-weather eVTOL propulsion system, capable of operating in conditions that challenge most helicopters.

The project will investigate advanced ice detection and protective technologies, crucial for enhancing the safety and reliability of eVTOLs like the Cavorite X7. The initial phase will focus on technology characterization, while subsequent phases will test these innovations in real-world scenarios.

Project CRYSTAL represents a potential shift in aerial operations, promising safer, environmentally friendly, and more cost-effective alternatives to traditional helicopters, potentially reducing 2.6 billion pounds of CO2 emissions annually. The award of the INSAT grant is set to accelerate Horizon Aircraft's technological advancements, marking a significant step towards sustainable aviation.

R. P.

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