Hover Formula 5

Formula 5
Hover
Moscow, Central Federal District, Russia
www.hoversurf.com

Hover was founded in Moscow, Russia, in January 2014 by inventor, tech entrepreneur and businessman Alexander Atamanov. Atamanov holds bachelor’s degrees in engineering and law as well as a masters degree in the management of innovation processes. He has founded and sold several companies before founding Hover and holds numerous patents relating to the various products and services that he has successfully brought to the marketplace. Hoversurf was the company's original name.

It has been reported that some of the investors in the company include Qiwi, the Starta Ventures, Ismail Akhmetov, Nikolai Belykh, Evgeny Medvednikov, Maxim Korobov and possibly other Russian investors. In 2018, the company moved its Moscow headquarters to Burlingame, California but in 2019, Hover moved their headquarters back to Moscow.

In 2017, the Hover Formula was revealed as a hybrid-electric vertical takeoff and landing (VTOL) aircraft with 52 fans and folding wings. The Formula employs only fixed ducted fans. Twin rows of six fans (12 total) on either side forward and aft of the passenger compartment provide 48 fans for lift. Four larger fans behind the passengers are for cruise mode.

Hover uses its own free-piston engine (FPE) Venturi engine fans. A folding wing orients upwards when parked and provides significant lift in flight, allowing the craft to sit in an area no larger than a car parking space. While the fans can land and the wings offer control if there is vertical thrust failure, the Formula also has a state-of-the-art ballistic parachute.

The vehicle can be piloted or fly autonomously. The Formula has a speed of 250 km/h and a range of 300 km/h with 1.2 hours of flight time. Energy cost is computed to be $0.29/1 km. Vehicle cost is predicted to be under $100.000.

Two and four passenger models are planned beyond the current Formula prototype. The goal is for Hover to use the Formula or its follow-ups for Air Transportation As A Service (ATAAS). Hover is also engaged in the development of the updated Formula which lacks wings, the Drone Taxi R-1, and the Scorpion.

In December 2018 Hover announced a partnership with MGM COMPRO which specializes in electronic speed controllers, battery management systems, propulsion systems, batteries and chargers.

Specifications:

• Aircraft type: Hybrid-electric VTOL aircraft
• Piloting: Piloted or remote
• Capacity: 5 passengers
• Maximum speed: 320 km/h (199 mph)
• Range: 450 km (280 m)
• Ducted propellers: 52 (48 for VTOL flight, 4 for forward flight)
• Electric Motors: 52 motors
• Power source: Hybrid-electric
• Fuselage: Carbon fiber composite
• Windows: Panoramic windows with a wrap around window design allowing forward, left, right and top visibility, for spectacular views
• Wings: High wing
• Landing gear: Lands on the bottom of the 4 fixed ducted propeller nacelles
• Safety Features: Distributed Electric Propulsion (DEP), provides safety through redundancy for its passengers and/or cargo. DEP means having multiple propellers and motors on the aircraft so if one or more motors or propellers fail, the other working motors and propellers can safely land the aircraft. The aircraft also has a whole aircraft ballistic parachute when all else fails.

Company Insights:

• Pitchbook
• Crunchbase
• MarketWatch
• Tracxn

Resources:

• Hover website
• Hover YouTube Channel
• Article: Project Formula: Russian hoverbike creators take aim at VTOL flying car, New Atlas, Oct. 29, 2017
• Article: Russian firm behind Dubai's police hoverbike reveals 'Project Formula' five seater flying taxi, Daily Mail, Oct. 30, 2017
• Article: Hoversurf Formula: a 3D printed flying car that costs under $100K, 3ders, Nov. 2, 2017
• Article: FAA Confirms Hoversurf S3 is Ultralight, Electric VTOL News, Oct. 15, 2018
• Article: eVTOL Captures the Attention of CES Vertiflite, March/April 2019
• Article: Hoversurf at Dubai Airshow 2019, Electric VTOL News, Nov. 24, 2019