Tuesday, August 25, 2015
XTI Looks to Crowd Source Capital for Commercial VTOL Aircraft
|Rendering of the TriFan 600, from XTI Aircraft Company. Photo: XTI Aircraft Company|
[Avionics Today 08-25-2015] The XTI Aircraft Company is looking to crowdfunding as a major form of equity to develop and launch its TriFan 600 aircraft — 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.
Under new rules approved by the U.S. Securities and Exchange Commission, XTI is launching the equity crowdfunding campaign as part of a larger capital financing plan that includes venture capital, private equity and high net worth investors.
"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 what the company hails as the first commercially certified high-speed, long-range Vertical Takeoff and Landing (VTOL) airplane to provide door-to-door travel.