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Astro Aerospace Announces Horizon Aircraft’s 200th Successful eVTOL Flight

SmallCaps Daily March 18, 2021

325 4 minutes read

Horizon continues test flights of the Cavorite X5’s sub-scale prototype as it prepares for Astro’s acquisition

Dallas, Texas – March 18, 2021 – Astro Aerospace (OTCQB: ASDN) (“Company” or “Astro”), a leading manufacturer of electric vertical take-off and landing (eVTOL) aerial vehicles and drones, announced today that more than 200 test flights have been successfully completed on a sub-scale prototype of the Cavorite X5, a five-seater hybrid-electric eVTOL. Horizon Aircraft (“Horizon”), a Canadian company leading in the global aerospace industry, has designed, engineered and overseen all testing of the Cavorite X5.

On February 18, Astro announced it has entered into an agreement to acquire Horizon to accelerate Astro’s Alta and Elroy programs, one of the first modern eVTOL aircraft to fly with people on board. Astro’s existing roots in the industry and high-calibre expertise, combined with Horizon’s engineering competencies, is expected to position the Company to be one of the leaders in the eVTOL market. Astro expects to complete the acquisition of Horizon in April.

The primary objective for the sub-scale eVTOL prototype’s test flights is to verify aerodynamics, control systems and transition flight. The Cavorite X5 features fully autonomous self-learning auto pilot software and an array of specialized 3D-printed lifting fans in the wings that provide additional thrust for vertical takeoff and landing. For vertical flight, the wing surfaces retract to open its ducted fans before closing again, maximizing the craft’s aerodynamic efficiency.

Horizon Co-Founder and CEO Brandon Robinson stated, “Completing more than 200 test flights is extremely exciting for the entire teams at both Horizon and Astro. Soon, our merged company will have the, capital and resources to bring our extensively tested Cavorite to-market, offering urban centers a reliable, comfortable and high-efficiency eVTOL.”

The full-scale Cavorite X5, which will travel up to an estimated 450 km/h with a 500-kilometre range, is designed for reduced hydrocarbon emissions, poor weather, traffic avoidance, and low-time pilots. The patented fan-in-wing allows the Cavorite to be the world’s first eVTOL that can fly the majority of its mission exactly like a normal aircraft.

“The testing of the Cavorite X5’s sub-scale prototype has exemplified to the global eVTOL market that Horizon’s engineered design is the new standard,” said Astro CEO Bruce Bent. “The soon-to-be completed acquisition of Horizon is expected to add tremendous value to the combined entity as we move towards the expected commercial launch of the X5 into the growing $46.7 Billion eVTOL aircraft market.”

About Astro Aerospace

Astro Aerospace is the developer of the world’s most advanced, autonomous, short haul, eVTOL (Electric Vertical Takeoff and Landing) aerial vehicles.

Our mission is to make self-flying unmanned and manned vehicles available to anyone, at any time, from anywhere, and to turn this new and exciting aircraft into a mainstream mode of transportation.

Our vision is “Flight Made Easy”.

Visit www.flyastro.com for more information.

About Horizon Aircraft Inc.

Horizon Aircraft is an advanced aerospace engineering company that has developed the world’s first eVTOL that can fly the majority of its mission exactly like a normal aircraft. This has resulted in industry-leading speed, range, and operational utility. Our unique designs place the mission first and prioritize safety, performance, and utility. Our Cavorite X5 eVTOL will enter the market quickly and will service a broad spectrum of early use-cases that will generate revenue immediately. Our mission is to produce an eVTOL for real-world applications that provides a safe, efficient and sustainable mode of aerial transport.

Visit www.horizonaircraft.com for more information.

Forward-Looking Statements

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