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Horizon Aircraft (NASDAQ:HOVR) has partnered with Motion Applied to develop a customized motor drive inverter for its Cavorite X7 hybrid-electric vertical takeoff and landing (VTOL) aircraft, the company announced Thursday. The small-cap aerospace company, currently valued at approximately $74 million, is trading slightly below its InvestingPro Fair Value, suggesting potential upside for investors interested in the emerging eVTOL sector.
Motion Applied, formerly part of Formula 1’s McLaren Group, will design and manufacture an air-cooled silicon carbide motor drive inverter based on its MCU-X platform. The system will weigh less than 3kg and is designed to deliver more efficient power transfer with reduced cooling requirements.
“We considered many companies for this partnership, but ultimately it is Motion Applied’s innovation, deep expertise, and ability to rapidly design, manufacture, and test in-house that provides a great advantage,” said Tom Brassington, Horizon Aircraft’s Chief Technology Officer.
The partnership aims to enhance the efficiency, power density, and range of the Cavorite X7’s vertical lift system. Motion Applied will also serve as a key partner through the aircraft’s certification process.
Samir Maha, Chief Executive Officer of Motion Applied, said, “We’re proud to partner with Horizon Aircraft on its groundbreaking Cavorite X7 aircraft. The Company’s innovative approach to the VTOL challenge reflects a design philosophy and engineering mindset that resonates deeply with Motion Applied.”
Motion Applied, which launched as an independent technology provider in July 2025 after spinning out of McLaren Group in 2021, specializes in electrification, motorsport, and connectivity technologies.
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Horizon Aircraft is developing the Cavorite X7 as a hybrid eVTOL designed to fly most of its mission like a conventional aircraft while offering vertical takeoff and landing capabilities.
The information in this article is based on a company press release.
In other recent news, Horizon Aircraft Ltd. announced that test pilot-astronaut Jameel Janjua has joined its Board of Directors, bringing valuable experience in experimental test flight and aerospace engineering. The company is advancing the development of its Cavorite X7 hybrid electric VTOL aircraft, which aims to operate under Instrument Flight Rules and in Known Icing conditions, targeting critical missions like medevac and search and rescue. Horizon Aircraft has also raised the maximum aggregate offering price of its Class A ordinary shares to $50 million under its Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC, with over $35 million still available for issuance. Additionally, the company received a $2 million non-dilutive grant from the Initiative for Sustainable Aviation Technology program to support Project CRYSTAL, an all-weather eVTOL development initiative. Meanwhile, a short seller report from Pelican Way criticized Horizon Aircraft, questioning its operations and financial practices. Despite this, the company continues to focus on its innovative aircraft projects and strategic partnerships.
