![]() The Company further announces that Horizon co-founder and CEO Brandon Robinson has been appointed President of Astro Aerospace Ltd. Bent will assume the role of Executive Chairman to assist in implementing the Astro business plan developed over the past two years. Trompeter focused on non-profit ventures and family before co-founding an independent investment and advisory firm growing innovative technologies in emerging markets. Trompeter participated in over $17 billion in acquisitions and transactions, earning her a Trompeter spent a large portion of her career holding a variety of executive positions at GE Capital including CFO, Controller, Operations Leader, Quality Leader, and Mergers & Acquisitions. University’s Business Administration program with a major in Finance and Economics, Ms. Trompeter brings more than 16 years of experience in mergers and acquisitions and 15 years in financial management experience to the position. Trompeter has had a love for aviation since wanting to be an astronaut in grade school and will bring that passion to advocating for the Astro business. The Acquisition was completed for common shares of Astro stock, the material terms of which are disclosed in the Company’s related 8-K filing.īruce Bent is pleased to announce that Patricia Trompeter, currently a member of Astro’s Board of Directors has agreed to take on the role of Chief Executive Officer. (“Horizon”), a privately held developer of advanced eVTOLs, has closed. (OTCQB: ASDN) (“Astro” or the “Company”), a developer of eVTOL aerial vehicles and drones, announced today that the acquisition agreement (the “Acquisition”) with Horizon Aircraft Inc. The goal is to get the aircraft certified by 2025, but Horizon Aircraft stated that many deciding factors are out of its hands.Astro expands its offerings in the fast-growing eVTOL Market expected to hit $1 Trillion by 2040Īstro Aerospace Ltd. Like all companies that aren’t yet generating money, the speed of the project will be determined by how much money the company can raise. Horizon Aircraft has stated that the full-size model is currently in development. Project timeline The hybrid design promises a range of up to 310 miles, at 280 mph speeds. The eVTOL technology allows for take-offs and landing in difficult-to-reach areas, which opens up endless possibilities. Horizon Aircraft believes its vehicle will be able to provide disaster relief, MedEvac services, cargo transport, and air taxi services. What will it be used for?Īn aerial vehicle like the Cavorite X5 could be used to solve several problems. The vehicle will contain a gas engine that powers the electric motors for the wing fans and pusher propeller. Horizon Aircraft claims that the full-size model will be able to reach a cruising speed of 450 km/h (280 mph) and a range of 500 km (310 mi). The wing covers close and lock in place for super low drag cruise flight. The wings will then close off the fan, and the aircraft will cruise the skies like a plane. The Cavorite X5 eVTOL will then hover as the rear pusher propeller accelerators the craft forward. The wings are equipped with 16 high-powered lift fans to get the vehicle off the ground–the company had this design patented. Horizon Aircraft has claimed that the Cavorite X5 prototype will be fully functional by the end of the year. It has a 6.7 meters (22 ft) wingspan and is 4.6 meters (15ft) in length. However, it is also a way for the company to show proof of concept and help catch the eye of investors to take the project to its next phase.Īlthough the prototype is at a reduced scale, it’s still a big vehicle. The purpose of doing that is to, of course, continue testing the design to ensure a full-scale model would function properly. However, it has produced a half-sized prototype. ![]() The company hasn’t quite achieved creating a full-sIt ized Cavorite X5 that works. Front and rear wing covers slide apart to reveal the lift fans. ![]() In order to achieve this feat, Horizon Aircraft is combining state-of-the-art technologies to make a futuristic idea a reality. That means the vehicle uses similar technology as drones and helicopters, but the Cavorite X5 can then transition to fly like a plane. eVTOL stands for electric vertical take-off and landing. The Cavorite X5 is a small eVTOL aircraft designed to take off like a drone, hover like a helicopter, and fly like a plane.
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