Xti Aerospace Signs Letter Of Intent With Avx Aircraft Company For Further Blueprint And Development Of The Trifan 600 Vertical Elevator Crossover Airplane
XTI Aerospace, Inc. (NASDAQ: XTIA) ("XTI Aerospace", or the "Company") today announced that its subsidiary, XTI Aircraft Company ("XTI Aircraft"), has signed a Letter of Intent ("LOI") alongside AVX Aircraft Company ("AVX"), a leader inward advanced vertical elevator solutions, to provide development, blueprint, as well as certification services to support XTI Aircraft'second proprietary in addition to patented TriFan 600, a fixed-wing aircraft with vertical takeoff in addition to landing ("VTOL") capability. The definitive agreements are expected to be signed inwards the coming weeks.
Under the proposed damage of the definitive understanding, XTI Aircraft, led by XTI Aerospace Senior Vice President of Business in addition to Program Development Don Purdy, will provide management, management, as well as oversight of the TriFan 600 programme. AVX will become the prime number contractor including detailed pattern, programme management, subcontract direction in addition to certification back up services.
The TriFan 600 vertical lift crossover airplane ("VCLA") is expected to revolutionize signal-to-bespeak air go past combining the comfort, speed, and range of similar size conventional business concern aircraft alongside the flexibility, convenience, in addition to pinpoint shipping entirely achievable amongst a vertical takeoff as well as landing aircraft.
Don Purdy commented, "There are numerous purpose cases for the TriFan 600 inside the Part 91 concern, Part 135 charter service, too Part 121 scheduled service operations, inwards addition to particular mission roles such every bit medevac in addition to rescue where fourth dimension is and then critical. We expect forwards to working closely alongside AVX inward the coming months."
A calculator graphics simulation video is available at XTI Aircraft simulation video.
SOURCE XTI Aerospace, Inc.
"The human relationship alongside AVX provides XTI Aircraft amongst seasoned applied science talent in addition to a society highly experienced in designing too developing vertical lift aircraft technology," said Scott Pomeroy, chairman in addition to primary executive officeholder of XTI Aerospace. "AVX volition aid refine our electric current pattern, which we look volition accelerate the TriFan 600 development plan patch significantly reducing expenses for sure engineering capabilities in addition to services."
Under the proposed damage of the definitive understanding, XTI Aircraft, led by XTI Aerospace Senior Vice President of Business in addition to Program Development Don Purdy, will provide management, management, as well as oversight of the TriFan 600 programme. AVX will become the prime number contractor including detailed pattern, programme management, subcontract direction in addition to certification back up services.
Kendall Goodman, president of AVX, said, "The AVX squad is delighted to function with XTI on this development plan too employ our decades of rotorcraft technology experience to the TriFan 600. We look forward to working mitt-inward-manus alongside the XTI leadership team to deliver this market place-driven solution for their customers."
The TriFan 600 vertical lift crossover airplane ("VCLA") is expected to revolutionize signal-to-bespeak air go past combining the comfort, speed, and range of similar size conventional business concern aircraft alongside the flexibility, convenience, in addition to pinpoint shipping entirely achievable amongst a vertical takeoff as well as landing aircraft.
Don Purdy commented, "There are numerous purpose cases for the TriFan 600 inside the Part 91 concern, Part 135 charter service, too Part 121 scheduled service operations, inwards addition to particular mission roles such every bit medevac in addition to rescue where fourth dimension is and then critical. We expect forwards to working closely alongside AVX inward the coming months."
A calculator graphics simulation video is available at XTI Aircraft simulation video.
SOURCE XTI Aerospace, Inc.
