XTI Aircraft Company (XTI) and Bye Aerospace, Inc. (Bye) have agreed to develop a hybrid/electric prototype of XTI´s revolutionary TriFan vertical takeoff airplane, the companies said.
The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a business jet and the ability to take off and land vertically, like a helicopter. It will travel at over 300 miles an hour, with a range of over 1,200 miles.
Using three ducted fans, the TriFan lifts off vertically and then its two wing fans rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 35,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.
XTI launched a formal stock offering in 2016 under SEC Regulation A+, which is open to all investors around the globe. Shares in XTI may be purchased at www.startengine.com/startup/xti providing a unique opportunity for the general public to invest in an aerospace company with a game-changing product, a world-class leadership team, and significant growth potential.
In addition to the equity crowdfunding financing, in the fourth quarter of 2016 XTI opened a USD 20m Series B round for accredited investors only, led by Wall Street investment bank, Primary Capital.
XTI Aircraft Company is a privately owned aviation business based near Denver, and founded in 2012. 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.
Bye Aerospace, Inc., founded by George Bye in 2007, is a world leader in developing electric-powered and solar-powered aircraft. Among the many products it has developed, Bye has launched the electric “Sun Flyer” fixed-wing airplane. Bye Aerospace has extensive experience in hybrid-electric configurations, structural, propulsion and mechanical systems, and provides cost-effective consulting services to the aerospace industry.