The Future of Advanced Air Mobility

Hoversurf is developing both two- and four-seat versions of its Formula hybrid-electric eVTOL aircraft. These are based on the company's patented Venturi engine technology. This consists of a total of 52 ducted fans--48 of which are used for vertical lift and the other four of which drive cruise flight. Power originates with a turbine-and-alternator combination that Hoversurf describes as a "free piston engine." Atmospheric air is pushed through the Venturi fans in a way that Hoversurf claims will increase the efficiency of the electric motors and also reduce noise. The company says that operating costs for the aircraft could be around $0.48 per mile.

As of August 2019, Hoversurf had not published a projected timeline for completing certification of the Formula aircraft. The company appears (from available video clips) to have flown a sub-scale prototype of the Formula aircraft.


Our objective assessment of this program’s probable success.

FutureFlight assesses the probability of success for a new aircraft program by considering the following criteria:

  • Total investment funds available in proportion to the anticipated cost of getting an aircraft certified and in service
  • A company’s in-house capability (in terms of numbers of engineers, technical staff, and customer support teams)
  • The past experience of the company and its senior leadership in developing aircraft
  • The caliber and past experience of key program partners
  • Whether key aircraft systems have been selected and are available for use
  • Whether the preliminary design review has been completed
  • Whether the design for the full-scale prototype has been completed
  • Whether the type certification process has been formally initiated with an appropriate regulator
  • Whether the company has achieved a first flight with a full-scale prototype
  • The number of hours logged in a flight test program
  • Whether type certification has been achieved
  • The number of orders and commitment received for the aircraft
  • Whether the company has adequate facilities to begin series production of the aircraft
Our Methodology

At face value, entrepreneur Alex Atamanov has a credible track record in technology investments, but whether his team has the experience and capacity to bring an aircraft to market is far from certain. It is unclear whether Hoversurf has sufficient capital to see the program through to the production phase. The company's engineering team consists of only seven people and, as of August 2019, it was unclear how far design and testing work had progressed. Alex Atamanov implies that he has strong personal connections with some of Russia's leading aerospace groups, but it is by no means certain that he is in a position to leverage these assets in support of the Formula program.

Formula Drone Taxi Models

Formula TWO Specifications

Optionally-piloted vtol Lift + Cruise


  • Passenger Capacity
  • Range
    186 mi
  • Cruise Speed
    155 mph
  • Powerplant Type
  • Power Source
  • Endurance
    72 min
  • Max Altitude
  • Takeoff Distance
  • Landing Distance
  • Empty Weight
  • Payload Weight


  • Length
  • Width
  • Height
  • Wingspan

Formula TWO will seat two passengers and promises direct operating costs of around $0.48 per mile.

Key Personnel

Alex Atamanov, Hoversurf founder and CEO
Alex Atamanov

Chief Executive Officer (CEO), Founder

Vasily Poteriaiko, Hoversurf CTO
Vasily Poteriaiko

Chief Technology Officer (CTO)

Denis Saitgariev, Hoversurf chief designer
Denis Saitgariev

Chief designer