Canada-based eVTOL aircraft developer Horizon Aircraft has received strategic investment in the form of a convertible note purchased by certain accounts of Canso Investment Counsel and affiliated companies for an aggregate $5 million.

CEO and co-founder Brandon Robinson says: "Canso has a strong history of supporting the growth of numerous businesses across Canada since its inception. We are proud and humbled to have Canso as a strategic partner. Canso is an experienced investor in aviation and space technology and is a champion of Canadian aerospace companies in particular. This investment is a landmark moment for our organisation and will play a major part in Horizon Aircraft's vision of building a better future and providing long-term value for our shareholders."

Nic Desjardins, portfolio manager at Canso Investment Counsel, adds: "Horizon Aircraft's management team give us the confidence to be able to support an innovative Canadian aerospace company that is making considerable progress with its project. We made this investment because we believe in its leadership, the value proposition of its unique technology and approach to developing it. We hope that the Cavorite programme will have a resounding, positive impact on Canada's communities and our citizens."

Canso and Horizon Aircraft share a common bond in that Brandon Robinson and several of Canso's senior staff come from Canadian military and aviation backgrounds. They leverage this shared experience when pursuing opportunity and overcoming operational challenges.