Thursday, April 21, 2016
XTI Hopes to Meet $3M in Equity Funding
XTI Aircraft Company is soliciting $3 million in investor donations to accelerate development of its TriFan 600 VTOL aircraft.
The company made headlines last August with its plans to crowdfund development of its high-speed, five-passenger, vertical-takeoff-and-landing business transport. Although it originally intended to fund a full-scale prototype, XTI said it is now targeting a $3 million milestone to shave a year off the development schedule and fund development of a 65% scale flying prototype technology demonstrator within two years.
"For everyone who is excited by this groundbreaking spectacular airplane and wants to get in on the ground floor of bringing the TriFan 600 to market, now is the time to invest," said XTI founder and Chairman David Brody, who hopes to generate an increase in public interest and reach the company’s $3 million target.
Depending on its funding, XTI is also planning in the short term to develop an operational propulsion jet stand that will house the engine, drive train system, fans and flight controls.
The TriFan 600 program conceptualizes a single-pilot, fly-by-wire aircraft that would be controlled with three horizontally mounted, tiltable lift fans. It would be able to lift off and land at any helipad from which an AW189-class helicopter can operate and cruise above 30,000 ft at 330 to 350 kt.
Image courtesy of XTI Aircraft Company