Xeriant Announces Joint Venture with XTI, Developer of World’s Fastest, Longest-Range Commercial VTOL

Rhea-AI Summary

Xeriant has entered a definitive joint venture with XTI Aircraft Company to develop the TriFan 600, a revolutionary hybrid-electric VTOL aircraft. This partnership aims to accelerate the aircraft's prototype and certification processes.

Current presales exceed $1.3 billion, indicating strong demand for the unique capabilities of the TriFan 600. The aircraft promises to transform the light commercial market, offering an eco-friendly and efficient travel option.

The press conference unveiling further details is scheduled for June 14, 2021.

Positive

• Joint venture with XTI Aircraft Company enhances development capabilities.
• Presales for the TriFan 600 aircraft exceed $1.3 billion, indicating strong market demand.

Negative

• None.

XTI’s revolutionary hybrid-electric TriFan 600 aircraft has presales that now top $1.3 billion

BOCA RATON, Fla., June 09, 2021 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTC PINK: XERI), (“Xeriant” or “the Company”), a new aerospace technology and advanced materials holding company, announced today 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 14^th 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 honor 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.

For updates on the live press conference, be sure to sign up for our newsletter at https://www.xeriant.com/newsletter or follow us on Twitter (https://twitter.com/xeriant). The Company will issue a news release with a link to the live press conference before the market opens on Monday, June 14, 2021. Institutional investors and press may call Xeriant’s investor relations department at (818) 923-5302 to receive a press packet and investor slide deck.

About Xeriant

Xeriant, Inc. (d.b.a. Xeriant Aerospace) is a holding and operating company taking an active role in Advanced Air Mobility (“AAM”), the technological revolution enabling the aerospace industry’s transition to more efficient, sustainable, and autonomous flight operations. AAM promises to expand accessibility and applications for aerial services across the economy through the development and safe integration of new aircraft with vertical flight capability (VTOL), which facilitate the point-to-point transport of passengers and cargo. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport. The Company is an OTC Markets public company trading under the stock symbol, XERI.

For more information, please go to www.xeriant.com.

About XTI Aircraft Company

Based in Englewood, Colorado, XTI Aircraft Company is a privately owned OEM and developer of next-generation, cleantech VTOL aircraft, including the TriFan 600. XTI is guided by a leadership team with decades of experience, 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.

For more information, please go to www.xtiaircraft.com.

SAFE HARBOR FORWARD-LOOKING STATEMENTS

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

XERIANT, INC.
Investor Relations Dept.:
(818) 923-5302
IR@xeriant.com
www.xeriant.com

FAQ

What is the significance of Xeriant's joint venture with XTI Aircraft Company?

The joint venture aims to accelerate the development of the TriFan 600, a hybrid-electric VTOL aircraft, enhancing Xeriant's capabilities in the aerospace market.

How much are the presales for the TriFan 600?

Presales for the TriFan 600 have now topped $1.3 billion, reflecting strong demand.

When will Xeriant provide updates on the TriFan 600?

Xeriant will reveal further details at a press conference on June 14, 2021.

What are the expected benefits of the TriFan 600 aircraft?

The TriFan 600 promises eco-friendly, on-demand air travel without compromising safety or performance, transforming the light commercial aircraft market.