Horizon Aircraft Secures LOI with V-Star Powered Lift Aviation for the Purchase of Up to 100 Hybrid eVTOLs For $600 Million

V-Star’s addition of Cavorite X7 hybrid-electric VTOLs to its fleet will deliver faster, more affordable emergency air response across Australia

New Horizon Aircraft Ltd. (“Horizon Aircraft”), an advanced aerospace company developing one of the first hybrid-electric Vertical Take-off and Landing (VTOL) aircraft, has announced it has signed a Letter of Intent (“LOI”) with V-Star Powered Lift Aviation Pty Ltd. (“V-Star”), an Australian-based aircraft operator specializing in advanced power-lift aircraft, to purchase 5 Cavorite X7 hybrid-electric VTOL aircraft with options to purchase up to an additional 95 aircraft. V-Star intends to secure the delivery slots for these 5 aircraft with a firm deposit upon execution of the definitive agreement.

V-Star provides innovative, cost-effective aviation solutions with particular expertise in critical emergency services. The addition of Cavorite X7s into V-Star’s fleet will significantly reduce medevac response times and patient transfers, and search and rescue missions can be executed faster and more cost-efficiently.

V-Star CEO Tony Laws commented, “Flying at nearly twice the speed of helicopters, the addition of Cavorite X7s to our fleet will be a critical advantage to help people in need when minutes matter. V-Star is committed to delivering leading powered-lift technologies across Australia to improve outcomes on critical missions, and this LOI with Horizon Aircraft brings us one step closer to a new standard for emergency services operations and cost-effective transport solutions in regional Australia.”

Horizon Aircraft Co-Founder and CEO Brandon Robinson said, “V-Star’s intentions of moving to a firm order to deploy Cavorite X7s for time-critical missions makes this LOI significant. As more operators learn how the X7 is a compelling operational and economic alternative to helicopters, we believe a significant transformation will occur across emergency air services worldwide.”

About Horizon Aircraft

Horizon Aircraft is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers.

About V-Star Powered Lift Aviation

V-Star Powered Lift Aviation Pty Ltd. is an Adelaide-based aircraft operator dedicated to bringing powered-lift aviation to Australia and the wider Oceania and Southeast Asia region. Formed through the merger of two established South Australian aviation businesses, V-Star provides safe, cost-effective, and operationally efficient aviation solutions, with expertise in emergency services, search and rescue, aeromedical, and regional transport. The Company offers a holistic service model spanning flight operations, training, infrastructure, logistics, and engineering support, and is working to establish next-generation powered-lift aircraft as a faster, more affordable alternative to traditional rotary-wing operations across the region.