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ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ:XTIA), a company specializing in vertical takeoff and landing (VTOL) aircraft with a market capitalization of $11.5 million, has announced that the Federal Aviation Administration (FAA) has chosen the Certification Branch Office (CBO) in Ft. Worth, Texas, to oversee the type certification of its TriFan 600 aircraft. According to InvestingPro data, the company maintains a stronger cash position than debt on its balance sheet, though analysts note rapid cash consumption in recent quarters. This decision follows the FAA’s acceptance of XTI’s formal type certification application for the TriFan 600 on March 17, 2025.
The TriFan 600, known by its FAA model designation "TF600," is an innovative aircraft that combines the vertical takeoff capability of a helicopter with the speed and range of a fixed-wing plane. XTI Aerospace has been working closely with FAA subject matter experts (SMEs) nationwide, providing technical familiarization briefings on the major systems and subsystems of the TriFan 600.
Don Purdy, XTI’s Senior Vice President for Program and Business Development, expressed enthusiasm for the ongoing partnership with the Ft. Worth CBO, citing their expertise in VTOL aircraft. He emphasized the shared goal between XTI and the FAA of delivering a safe, reliable, and well-engineered aircraft.
XTI Aerospace, headquartered near Denver, Colorado, is also known for its Inpixon business unit, which is a leader in real-time location systems (RTLS) technology. The TriFan 600 is designed to reach maximum cruising speeds of 311 mph and a range of 985 miles, potentially creating a new category of aircraft, the xVTOL. Despite recent volatility in its stock price, which has seen a significant 22% gain over the past week, the company’s shares remain down over 80% in the past six months.
The press release from XTI Aerospace includes forward-looking statements regarding the company’s product development and technological advantages. These statements are subject to risks and uncertainties, and actual results may differ from current expectations. InvestingPro subscribers have access to 14 additional investment tips and comprehensive financial metrics for XTIA, including detailed profitability analysis and growth forecasts.
This news is based on a press release statement from XTI Aerospace, Inc.
In other recent news, XTI Aerospace has made significant strides in its financial and operational strategies. The company has fully repaid its outstanding debt to Streeterville Capital, using $2.7 million from a recent public offering, which could potentially strengthen its financial position. Additionally, XTI Aerospace announced the retirement of all remaining equity-based financing instruments, shifting its focus to advancing its TriFan 600 aircraft. The company has also achieved a regulatory milestone with the Federal Aviation Administration’s acceptance of its Type Certification application for the TriFan 600.
In efforts to enhance its strategic direction, XTI Aerospace has appointed Hanna Tomory from Palantir Technologies and Preston Dunlap, former Chief Technology Officer for the U.S. Space Force, to its Corporate Advisory Board. These appointments are expected to bolster the company’s expertise in AI, digital transformation, and aerospace technology. Furthermore, XTI unveiled a new model of its TriFan 600 at the Avalon Airshow in Australia, showcasing its VTOL capabilities and latest aerodynamic configuration. As part of its ongoing initiatives, XTI Aerospace is engaging with institutional investors through a non-deal roadshow to introduce a new investor deck, reflecting their vision for the future.
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