New Horizon Aircraft Ltd. is a publicly traded company headquartered in Lindsay, Ontario, which is developing a hybrid eVTOL aircraft for regional air mobility. It is designing the Horizon Cavorite X7 as a hybrid-electric 6-passenger aircraft that has electric fans for vertical takeoff and landing and a turboprop engine for forward flight. Horizon Aircraft expects that its hybrid architecture will result in greater range compared to electric-only VTOL aircraft, while having 20–30% lower operating costs and twice the speed of a traditional helicopter. Development of a full-scale prototype is ongoing with the intent of having the Cavorite X7 certified and flying before 2030. Wikipedia