"The performance mission of this aircraft is to create an aerobatic biplane capable of sustaining +8/-6 G's, a greater then 300º per/sec roll rate, while creating a better-than-one-to-one power-to-weight ratio. Target air show weight will be less than 2000lbs with thrust targeted at 3300lbs. This will be close to a 1.65:1 ratio, unheard of in any general aviation (GA) aircraft. To put it in perspective, the F/A-18 Hornet (at fighter mission weight) is 36,700lbs@32,000lbs of thrust. This is about .87:1 thrust to weight ratio performance at a cost of $39.5 million dollars.
Being the only propeller driven aircraft with a better-than-one-to-one power- to-weight ratio, the Turbine Toucan was designed to do what no other aircraft in the world can, 3D aerobatics. And what is even more impressive, it will be the only fixed wing GA aircraft in the world that can hover (well… that's the plan and we're sticking to it)!"
And watch this from 02:35 onwards, unbelievable! ;D
I saw something similar at Oshkosh in 1999. Flown by Wayne Handley, it was called the "Oracle Turbine Raven" and was personally backed by Oracle Corp. chief Larry Ellison. Same idea. A lightweight airframe (carbon-fibre low wing monoplane, similar to ZK-NUT) and a 750hp PT6 turbine.
It could also hover and also when he put the prop into beta (reverse thrust) could descend near vertically. Wayne's airshow party trick was to take off, climb to 1000 feet in a vertical figure eight and then land back on the same spot in one minute... very impressive.
Unfortunately he got it wrong at one airshow and misjudged his rate of descent causing a heavy landing that wrecked the plane (pilot moderately injured). Lazza E. must have though that was bad metaphor for Oracle and didn't stump up the cash to have it repaired.