TriFan VTOL Goes Hybrid
XTI Aircraft Co. has switched to hybrid-electric propulsion for its planned TriFan 600 ducted-fan vertical-takeoff-and-landing (VTOL) business aircraft.
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Welcome to XTI Aircraft Company. Our revolutionary TriFan 600 Hybrid Electric Vertical Take-Off and Landing aircraft Changes Everything! It's a big opportunity to revolutionize air travel. There’s a significant unmet need in the aircraft market —and we have the only viable way to fill it. Those who invest now will own a piece of XTI and will have the opportunity to benefit as we grow and achieve our milestones. We invite you to learn more and join us on this journey.
Successful businesses solve problems. They make customers’ lives easier. And that’s exactly what the TriFan 600 is all about. We are filling a market need - door-to-door air travel over long distances - in ways no other aircraft possibly can.
Our research indicates that no commercial aircraft of any kind can fly directly from point A to point B with the range, speed, or comfort of the TriFan 600 vertical takeoff airplane. Similarly, our research indicates that no helicopter can match the performance of the TriFan 600 and no business jet can land in your backyard! This is a new type of aircraft, with an entirely new combination of capabilities that are unique in the market.
Our initial target market for the TriFan 600 is business aviation, city to city commuter customers and private individuals. Business Jet Traveler magazine says that people fly privately to (1) save time, and (2) gain access to destinations not served by airlines. The TriFan 600 accomplishes both objectives.
The TriFan 600 can save each person hundreds of hours a year by not having to travel to and from airports by ground transportation. For business people, every wasted hour due to travel time has an inherent opportunity cost, and that’s why aircraft owners pay millions more for time and convenience. But as shown in the figure below, the speed of an aircraft does not always equal more time saved, and the we believe the TriFan will completely trump conventional business jets and helicopters in this regard.
*All performance comparisons above are projected estimates.
*All performance specifications above are projected estimates.
Prior to its launch, XTI commissioned detailed market studies that reported a strong potential market and ongoing demand for the TriFan 600.
These studies, conducted by prominent aviation market research firms, give us reason to be bullish on the future. Globally there are over 60,000 business airplanes and helicopters in operation. Based on market trends and projected demand for fast, runway-free transportation, experts say XTI can expect to annually sell a minimum of 40 and up to 100 TriFan 600s, each priced at $6-8million.
In addition to the crowdfunding and other fundraising efforts currently underway, XTI initiated a pre-sales program in 2017. Already we have over 80 orders! Buyers are able to make a refundable deposit ranging from $10,000 to $25,000 per aircraft, reserve their place in line, and retain that priority position as the company reaches commercial production of the TriFan 600. With as few as 100 orders, the gross revenues of XTI represented by those orders would be over $600m.
We have quantified market demand through our pre-sales program, begun construction of a flying prototype, and received our second patent, demonstrating solid progress along the paths outlined in our plan.
All members of XTI's management are shareholders in the company and highly motivated and incentivized to increase the company's value and create a path to liquidity and a market for all shareholders, including those who invest through Regulation CF crowdfunding financing. XTI will continually assess and explore ways to achieve liquidity for all shareholders, including potentially making shares tradeable in the secondary market, strategic relationships with publicly traded aircraft companies, and examining whether an initial public offering should be part of the company's financing strategy within the next few years. We believe these are all realistic and viable options.
We believe the XTI business plan includes a realistic path to profitability when targets are met. Current priorities are (1) financing initiatives, (2) flying the prototype in 2020, and (3) continuing discussions with potential vendors, partners, and suppliers for the full test program and production aircraft.
*Images are computer generated. Product is still currently under development
*All performance specifications above are projected estimates.
Images are computer generated. Product is still currently under development.
The TriFan 600 is a six-seat, vertical takeoff and landing airplane. It is not based on new technology, but it takes existing technology and applies it in a revolutionary configuration. We believe this reduces risks associated with manufacturing and obtaining FAA certification.
Features will include ample cabin space, easily configured with multiple options.
*Images are computer generated. Product is still currently under development
*Video contains computer generated images. Product still currently under development
Using three ducted fans, the TriFan 600 will off vertically. In seconds, the two wing fans rotate forward for a seamless transition to high-speed flight. And within just 90 seconds, the aircraft will reach cruising speed – where, like every other fixed-wing airplane, the wings provide lift. The fuselage-mounted fan, no longer needed, will close up. The airplane will fly directly to its destination and reverses the process, landing vertically right where it needs to be – over a clear helipad sized paved surface, a golf course, backyard, job site, or thousands of other locations around the world where it’s safe and legal to land and takeoff.
*Images are computer generated. Product is still currently under development
THESE MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
XTI Aircraft Co. has switched to hybrid-electric propulsion for its planned TriFan 600 ducted-fan vertical-takeoff-and-landing (VTOL) business aircraft.
Company | : | XTI Aircraft Company |
Corporate Address | : | 2209 Green Oaks Lane, Greenwood Village, CO 80121 |
Offering Minimum | : | $9,999.00 |
Offering Maximum | : | $1,069,999.50 |
Minimum Investment Amount(per investor) | : | $450.00 |
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 6,666 |
Maximum Number of Shares Offered | : | 713,333 |
Price per Share | : | $1.50 |
Pre-Money Valuation | : | $51,470,577.00 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below
Bonus shares based on timing
If you invest in the first 30 days you get 10% bonus shares
If you invest in the second 30 days you get 5% bonus shares
Bonus shares based on amount invested
If you invest over $2,500 you get 5% bonus shares
If you invest over $5,000 you get 10% bonus shares
If you invest over $10,000 you get 15% bonus shares
The 10% Bonus for StartEngine Shareholders
XTI Aircraft Company will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.50 / share, you will receive 110 Common Stock shares, meaning you'll own 110 shares for $150. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
XTI Aircraft has teamed up with VerdeGo Aero to build the TriFan 200, an unmanned, autonomous vertical take-off and landing (VTOL) aircraft.
The TriFan 200, a small brother of the in-development passenger TriFan 600 aircraft, will be capable of transporting 227kg (500lb) of cargo on missions of more than 200nm (108km).
“The TriFan 200 aircraft will open up a significant new market for XTI to address the needs of cargo and logistics operators globally,” says XTI’s chief executive Robert LaBelle.
Eric Bartsch, CEO and Co-founder of VerdeGo Aero states that "XTI’s TriFan 200 is an outstanding application for VerdeGo’s hybrid powertrain systems... [and] XTI’s goals to provide its customers with reliable, high-performance cargo aircraft are ideally matched with the efficiency and low operating cost of VerdeGo’s diesel hybrid powertrains,”.
The aircraft will cater to cargo and logistics needs that connect global air cargo hubs — mostly at airports outside of major cities — with distribution points closer to the centre of those cities.
Often this part of the journey is most arduous and time-consuming, taking up to 120 minutes for packages to move about 20 miles.
But XTI sees other uses for the aircraft as well.
“In addition to express shipping, the TriFan 200 is also applicable to longer-range transportation in remote locations without infrastructure, including military logistics missions,” the companies state.
The TriFan 200 will be powered by VerdeGo’s high-efficiency, low-emissions hybrid-electric propulsion system which, the company claims, offers “the lowest operating cost and largest mission flexibility for next-generation electric aircraft”.
VerdeGo was founded in 2017 as an urban air mobility firm but pivoted to its deep expertise in hybrid-electric powertrains. The company’s modular twin generator systems can be stacked for 360KW continuous and 1MW peak output.
Last year, XTI selected GE Aviation’s Catalyst engine as the core of the hybrid-electric propulsion system for the larger passenger TriFan 600 VTOL aircraft.
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As you might know, XTI Aircraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in XTI Aircraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
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Sarita Jha has joined XTI as its Chief Financial Officer. She brings decades of experience in private equity, corporate finance, and business development.
We’re positioning the company to expand operations as we approach 2021, and Sarita will make a significant contribution”
— XTI CEO Robert LaBelle
XTI CFO Sarita Jha
DENVER, COLORADO, US, September 21, 2020 /EINPresswire.com/ -- XTI Aircraft Company (XTI) announced that veteran financial advisor and business strategist Sarita Jha has joined XTI as its Chief Financial Officer, effective September 1, 2020. She joins XTI full-time after decades of experience in private equity, corporate finance (M&A and joint ventures), and business development.
“We couldn’t be more pleased to have Sarita join the executive team,” said Robert LaBelle, XTI’s Chief Executive Officer. “We’re positioning the company to expand operations as we approach 2021, and she will make a significant contribution to XTI’s financing activities, as well as the company’s structure and strategy, as we bring the TriFan 600 vertical takeoff airplane to the market.”
“I joined XTI”, said Ms. Jha, “because of the company’s extremely capable and experienced leadership team, because this aircraft is truly revolutionary, and because I think I can fill a need in the area of financing and strategic development that will help us reach our goals. I’m very excited to be here.”
“Sarita started out in her career as a Northrop Grumman engineer”, LaBelle added, So she understands aircraft and aerospace as well as manufacturing. Later she became a senior member of the business development team in a General Motors subsidiary. Then at UniCredit in London for ten years, Sarita was a senior member the team responsible for private equity investments totaling €1 billion (enterprise value). She also served on the board of Martur Automotive Seating Systems”, said LaBelle. “Sarita is an ideal fit for XTI. We’re looking to grow rapidly following the recent increase in our order book to 117 orders for the TriFan 600. That represents over $761 million in gross revenues upon delivery of those aircraft.”
Ms. Jha replaces Andrew Woglom as CFO, who will remain with XTI in a consulting capacity.
The TriFan is a major breakthrough in aviation and air travel. The company conducted successful hover tests and announced a collaboration with GE Aviation last year. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 1,400 miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.TriFan 600 Prototype
“The market continues to recognize the value proposition of our unique and revolutionary airplane and its patented technology,” said LaBelle. “Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system.”
ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a privately owned aviation business based near Denver, founded in 2013. 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.
For information and updates about XTI Aircraft Company and the TriFan 600, visit www.xtiaircraft.com. To invest, go to https://www.startengine.com/xti-aircraft. For information on reserving a priority position for the TriFan under the Company’s pre-sales program, please see our website www.xtiaircraft.com
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT FROM:
https://www.sec.gov/Archives/edgar/data/1638850/000114420419045751/tv529998_1sa.htm.
YOU SHOULD READ THE OFFERING STATEMENT BEFORE MAKING ANY INVESTMENT.
Robert LaBelle
Chief Executive Officer
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[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the XTI Aircraft offering. Here's an excerpt describing the specifics of the change:
Extended length of campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, XTI Aircraft has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in XTI Aircraft be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
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