Xeriant, Inc. ("Xeriant" or "the Company"), a new aerospace technology and advanced materials holding company, announced that it has signed a definitive joint venture agreement with XTI Aircraft Company ("XTI"), a privately held cleantech aviation company based in Englewood, Colorado. The agreement will focus on the development of XTI's revolutionary hybrid-electric fixed-wing TriFan 600, the fastest and longest-range vertical takeoff and landing aircraft (VTOL) in the world. Further details of the collaboration between Xeriant and XTI will be revealed at the upcoming June 14th press conference at the Wings Over the Rockies Air and Space Museum in Denver, Colorado.
"The TriFan 600 will transform the light commercial aircraft market, providing eco-friendly, on-demand air travel without compromising safety and performance," stated Keith Duffy, CEO of Xeriant. "In my view, no other VTOL aircraft comes close. It is an honour to be associated with XTI's world-class management team which has developed and certified over 30 new aircraft over their careers."
"We are pleased with the significant progress our company has made over the past two years, improving the TriFan 600's design while strengthening our team and raising capital. The joint venture with Xeriant is an important step in accelerating development as we look toward building a full-scale prototype and formulating our test and certification plans. Our presales for the TriFan 600 now top $1.3 billion, which is a testament to the remarkable demand for our aircraft's unique design and capabilities," commented Robert LaBelle, CEO of XTI Aircraft.
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