XTI Aircraft Company, announced today that the China National Intellectual Property Administration (CNIPA) has issued a new utility patent for the Company related to the TriFan 600, an innovative, fixed-wing, vertical takeoff and landing (VTOL) aircraft currently in development. Generally, the patent covers certain aspects of the TriFan's pivoting ducted fans that rotate between vertical lift and horizontal thrust, which, in turn, are designed to enable the TriFan 600 to transition from vertical takeoff to forward cruise. China is one of the fastest-growing aerospace markets (source), and Boeing estimates China will become the biggest domestic aviation market in the world in the next two decades (source).

"The new patent represents an expansion of the scope of the patent that China originally granted to XTI in September 2019," said Scott Pomeroy, chief financial officer of XTI and future chief executive officer of the combined company which will result from the XTI and Inpixon merger. "After we received the patent in 2019, we filed a further application that has now been granted. As a result of this issuance, the scope of our Chinese patent matches the patent protection that we have for the TriFan 600 in the U.S., Europe, and other countries. We believe our significant patent portfolio serves as a strategic, tangible asset which demonstrates our innovative capabilities and potential for future revenue streams. In addition to helping guard against unauthorized use of our intellectual property, we plan to leverage our portfolio to differentiate ourselves in the market, deter competition, and facilitate strategic growth and expansion."