Welcome to our dedicated page for XTI Aerospace news (Ticker: XTIA), a resource for investors and traders seeking the latest updates and insights on XTI Aerospace stock.
XTI Aerospace, Inc. (NASDAQ: XTIA) is a pioneering aircraft manufacturer currently engaged in the development of the TriFan 600, a groundbreaking vertical takeoff and landing (VTOL) aircraft. The TriFan 600 is designed to revolutionize air travel by offering point-to-point flights over distances of up to 700 miles, significantly reducing carbon emissions compared to conventional gasoline-powered jets and helicopters.
The TriFan 600 can accommodate six passengers and is engineered for a wide range of applications, from private and commercial aviation to emergency medical services (EMS). The aircraft promises to bridge the gap within the aviation industry by combining the performance of a fixed-wing business aircraft with the versatility of VTOL. The company has secured over 700 conditional pre-orders, reflecting a potential market demand that could generate over $7 billion in revenue upon delivery.
Headquartered in Englewood, Colorado, XTI Aerospace also maintains operations in Germany and the United Kingdom. The company recently announced a merger with Inpixon, integrating XTI Aircraft Company to form XTI Aerospace. As a result, the company's stock began trading on the Nasdaq under the symbol 'XTIA' on March 13, 2024.
XTI Aerospace is committed to advancing the TriFan 600 towards FAA certification and commercial production. The company's recent partnerships, including one with AVX Aircraft Company, aim to accelerate development while reducing costs. The new leadership team, led by Chairman and CEO Scott Pomeroy, brings decades of aviation experience, further solidifying the company's strategic direction.
For additional information about XTI Aerospace, including news and updates, please visit XTIAerospace.com.
XTI Aerospace (XTIA) completed a General Familiarization presentation of its TriFan 600 aircraft to the FAA on November 14, 2024, marking a significant milestone toward FAA Type Certification. The presentation, attended by over 60 FAA representatives, showcased the aircraft's innovative design, systems, and vertical lift capabilities.
The TriFan 600 represents a new category of aircraft called vertical lift crossover airplane (VLCA), combining helicopter-like takeoff and landing capabilities with fixed-wing airplane efficiency. XTI has been collaborating with the FAA's Center for Emerging Concepts & Innovation division on developing certification guidelines for powered-lift aircraft. The aircraft is designed for various applications, including advanced air mobility, regional transportation, emergency medical services, and corporate travel.
XTI Aerospace (XTIA) announces the completion of a business combination between its former subsidiary Grafiti Holding (renamed to Damon Inc.) and Damon Motors. As part of the transaction, XTI Aerospace received Damon common stock and warrants. Damon shares will trade on Nasdaq Global Market under 'DMN' starting November 18, 2024.
The previously announced 1-for-50 share distribution of Damon common shares to XTI Aerospace stockholders (record date December 27, 2023) has been completed. The distributed shares are subject to lock-up restrictions with a phased release: 20% at closing, 40% at 90 days, and 40% at 180 days post-closing.
XTI Aerospace (NASDAQ: XTIA) provided its Q3 2024 business update, highlighting progress on the TriFan 600 vertical lift crossover airplane development. The company is completing its conceptual design review phase and expects to begin preliminary design review in early 2025. XTI launched Version 1.9 of its Flight Transition Simulator with One-Engine-Inop capabilities. The company formed a Corporate Advisory Board with Michael Tapp as Chairman and appointed Tobin Arthur as Chief Strategy Officer. The FAA published a Special Federal Aviation Regulation establishing a framework for powered-lift operations, which XTI views as significant for urban mobility development.
XTI Aerospace (NASDAQ: XTIA) has appointed Javier de la Peña, Strategy and Operations Executive at Woven by Toyota, to its Corporate Advisory Board. De la Peña brings over 15 years of experience in transportation, robotics, and technology sectors. In his current role, he focuses on Toyota's sustainability and next-generation mobility services initiatives. His background includes fellowships at Google and eBay, and a master's degree from Georgetown University. The appointment aims to leverage his expertise in technology and transportation innovation for the development and market launch of XTI's TriFan 600 aircraft.
XTI Aerospace (NASDAQ: XTIA) has appointed Jennifer Gaines as Chief Legal Officer, effective October 28, 2024. Gaines, who will report to Chairman and CEO Scott Pomeroy, brings nearly three decades of in-house counsel experience across technology, telecommunications, aerospace, and private equity sectors. She previously held senior legal positions at Nemetschek Group, SoftwareOne, Shift Technologies, and other companies. The appointment aims to strengthen XTI's legal and compliance functions as the company works toward bringing its TriFan 600 to market.
XTI Aerospace (NASDAQ: XTIA) has announced its participation in The ThinkEquity Conference, scheduled for October 30, 2024, at the Mandarin Oriental Hotel in New York. CEO Scott Pomeroy will deliver a presentation at 10:00 a.m. ET, and management will conduct one-on-one investor meetings throughout the day. The conference historically attracts over 700 attendees and facilitates 500+ one-on-one meetings with more than 70 company presentations. Investors can register to attend and schedule meetings, with the presentation available via live stream.
XTI Aerospace (NASDAQ: XTIA) has announced its founding sponsorship and partnership in Hangar X Studios, a new podcast focusing on aviation innovations. The weekly podcast will explore breakthrough technologies reshaping the industry, including VTOL, next-gen aircraft, and sustainable aviation solutions.
Industry veterans John Ramstead and Martin Butler join the initiative. Ramstead, with extensive aerospace expertise, will serve as Senior Advisor to XTI and primary host, interviewing industry leaders. Butler, an accomplished media expert, will be Director of Hangar X Studios, focusing on content and trend analysis.
The podcast aims to provide deep insights into the future of aviation, covering topics from autonomous flight systems to air taxis. It will be available on all major podcast platforms, with more information at www.hangarxstudios.com.
XTI Aerospace (NASDAQ: XTIA) has released version 1.9 of its proprietary Flight Transition Simulator for the TriFan 600 vertical lift crossover airplane. The update includes One-Engine-Inop (OEI) capability, simulating engine-out scenarios during takeoff. This advanced simulator optimizes flight transitions between vertical-lift and wing-borne flight modes.
The simulator utilizes a comprehensive database of aerodynamic and propulsion data to make precise calculations for the TriFan 600's unique flight regime. The addition of OEI capability is expected to enhance accuracy in modeling critical flight scenarios, further supporting the aircraft's development and refinement.
Scott Pomeroy, Chairman and CEO of XTI Aerospace, stated that this update represents another step forward in ensuring the safety and reliability of the TriFan 600, highlighting the company's ongoing progress in aircraft development.
XTI Aerospace (NASDAQ: XTIA) has appointed Tobin Arthur as Chief Strategy Officer, effective September 19, 2024. In this new role, Arthur will guide the company's vision and oversee sales, marketing, and investor relations. He brings over 30 years of experience in corporate strategy and innovation, including roles at Starbucks Coffee and in the healthcare sector with companies like CureUs and AngelMD.
Arthur's background includes investing in and advising over 200 startups, launching the Innovation4Alpha podcast, and consulting across various sectors. He holds a Bachelor of Arts in English from the University of Southern California. XTI's Chairman and CEO, Scott Pomeroy, praised Arthur's ability to anticipate market trends and build teams. Arthur expressed enthusiasm for XTI's potential to revolutionize aviation with its TriFan 600, combining business aircraft capabilities with vertical take-off and landing (VTOL) technology.
XTI Aerospace (NASDAQ: XTIA) has formed a Corporate Advisory Board and appointed Michael Tapp as its Chairman and Senior Advisor. This move aims to evaluate strategic opportunities and capitalize on strong demand for the TriFan 600. CEO Scott Pomeroy believes there's a disconnect between XTI's current stock price and valuations from credible private parties. Tapp, an operating partner at Palingen Capital, will assemble a team of industry leaders to provide insights on XTI's corporate direction as it enters the next development phase towards commercialization. Tapp brings extensive experience from roles at Interstate Battery, HBC Investments, and various growth-stage companies.
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