DENVER, Sept. 6, 2017 /PRNewswire/ -- XTI Aircraft Company (XTI) announced today that after a pause during part of August it is once again accepting investments on the StartEngine equity crowdfunding site. www.startengine.com/startup/xti
"We're continuing our successful equity crowdfunding campaign," said Robert LaBelle, Chief Executive Officer of XTI, "after the US Securities and Exchange Commission signed off on our annual update to the offering statement, as required by all companies making Reg A offerings that last more than a year."
"As a result of the substantial investments in XTI over this past year," LaBelle continued, "we've been able to make great strides in our engineering on the hybrid-electric propulsion system, developing our first flying prototype which we plan to fly in about one year. We've also brought on board strategic partners, including Bye Aerospace and Honeywell Aerospace, and we will launch the program publicly at the annual National Business Aviation Association annual convention and trade show in Las Vegas next month."
"Our offering on the StartEngine platform has provided a rare opportunity for hundreds of unaccredited and accredited investors to own a piece of the future of flight. The TriFan 600 which will transform air travel forever," said LaBelle. "We thank all of our investors as well as StartEngine for making this possible."
The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at over 300 miles an hour, with a range of 1,200 miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.
On June 19, at the Paris Air Show, XTI announced its first three orders for the TriFan 600 under the company's pre-sales program. Mr. LaBelle said that the customer is a globally recognized operator who intends to place the airplane into service flying priority passengers and cargo in VIP and Utility missions in multiple challenging environments. "The market is recognizing the value proposition of our unique and revolutionary airplane and its patented technology," said LaBelle. "Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system."
XTI launched a formal stock offering in 2016 under SEC Regulation A+, which is open to all unaccredited and accredited investors around the globe. Shares in XTI may be purchased at www.startengine.com/startup/xti providing a unique opportunity for the general public to invest in an aerospace company with a game-changing product, a world-class leadership team, and significant growth potential.
Simultaneously with the equity crowdfunding financing, accredited investors may participate in XTI's $20 million Series B round. Accredited investors seeking more information should contact Mr. LaBelle at rlabelle@xtiaircraft.com (571) 216-1594.
ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a privately owned aviation business based near Denver, founded in 2012. XTI is guided by a leadership team with decades of experience, a deep well of 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 information and updates about XTI Aircraft Company and the TriFan 600, visit www.xtiaircraft.com . To invest, go to www.startengine.com/startup/xti, or accredited investors may contact Mr. LaBelle at rlabelle@xtiaircraft.com (571) 216-1594. For information on reserving a priority position for the TriFan under the Company's pre-sales program, contact Mr. LaBelle.
Media Contact for XTI Aircraft Company:
Diane Simard
Sr. Vice President/Director/Media Relations
Bye Aerospace
DSimard@ByeAerospace.com
Direct: (303) 817-7676
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SOURCE XTI Aircraft Company