50 SKY SHADES - World aviation news

XTI Aircraft Company Launches Equity Crowdfunding Campaign

Download: Printable PDF Date: 25 Aug 2015 16:33 category:
Publisher:
XTI Aircraft Company Launches Equity Crowdfunding Campaign - Business aviation publisher
Tatjana Obrazcova

A group of business aviation visionaries today invited the world to help shape and own the future of flight.

Starting today, aviation enthusiasts and crowdfunders nationwide are actively participating in the launch of XTI Aircraft Company's (XTI) equity crowdfunding campaign, the first fundraising effort of its kind in aviation history — to develop the TriFan 600 — a six-seat fixed-wing airplane designed to fly as fast, as high, and as far as other business jets, but with the ability to takeoff and land vertically.

XTI is launching the equity crowdfunding campaign under new rules approved by the U.S. Securities and Exchange Commission.  It is part of a larger capital financing plan that includes venture capital, private equity and high net worth investors. Interested investors can learn more and lend their support at www.startengine.com/startup/xti.

"We view equity crowdfunding as a creative way to involve everyone as true stakeholders working together to pioneer this all new way to fly," said David Brody, founder and chairman of XTI. "It's a way to turn all of our supporters into potential stockholders by providing the public a once-in-a-lifetime chance to get in early on something truly revolutionary."

In development for over two years, the TriFan 600 is being designed and developed to become the first commercially certified high-speed, long-range vertical takeoff and landing (VTOL) airplane to provide true door-to-door travel. "No traditional jet, helicopter or other aircraft opens the same world of possibilities," said Brody.

After he conceived and designed the TriFan 600, Brody assembled a world-class leadership team to execute the vision. Team members include XTI Vice Chairman Jeffrey Pino, who, as former president and chief executive of Sikorsky Aircraft, kept the world's largest helicopter manufacturer at the forefront of rotorcraft innovation and development; XTI board member Charlie Johnson, former president of Cessna Aircraft Company, a leading manufacturer of light and midsize business jets; and Chief Engineer and board member Dennis Olcott, Ph.D., who previously served as chief engineer for Adam Aircraft and for the PiperJet program.

"This team knows exactly what is required to finance, design, certify and launch a program of this magnitude," Pino said. He added that "our current efforts are focused on raising capital, finalizing diligence on our technical solution, and initial discussions with key vendors that will lead to building a prototype." 

ABOUT XTI

XTI Aircraft Company is a privately owned aviation business based in Denver. XTI is guided by a leadership team with decades of experience, a deep well of expertise, and success bringing new aircraft to market. XTI is founded on a culture of customer-focused problem solving to meet the evolving needs of modern travelers.



Loading comments for XTI Aircraft Company Launches Equity Crowdfunding Campaign...


Recommended

Convertible ALSIM AL40/42 simulator now available

ALSIM announced the launch of the convertible simulator AL40/42. It combines two popular Diamond aircrafts, DA40 & DA42, in one device, bringing flexibility to flight schools. The device...

airBaltic to Maintain Essential Connectivity for the Baltics During Winter

As of October 25, the winter schedule of Latvian airline airBaltic is now in force. During this season, airBaltic plans to connect Riga with 40 destinations across its network, off...

Welcome another Gulfstream G700 test aircraft

The fifth Gulfstream G700 flight-test aircraft has taken flight, just three weeks after the fourth G700 flew for the first time. “The G700 flight-test program is progressing exceptiona...

Techniques Effective Against COVID-19: Boeing and University of Arizona

In a first-of-its-kind series of tests, Boeing and the University of Arizona determined airlines’ current cleaning solutions effectively destroy the virus that causes COVID-19. Boeing compl...