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ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ: XTIA), a micro-cap aerospace company with a market value of $8.41 million specializing in VTOL (vertical takeoff and landing) aircraft technology, announced today the appointment of Archduke Sandor Habsburg-Lothringen to its Corporate Advisory Board. According to InvestingPro data, the company faces significant financial challenges, with an EBITDA of -$19.72 million in the last twelve months. The Archduke brings over three decades of global business strategy experience, particularly in sustainable energy and telecommunications, to the aerospace company.
Archduke Sandor’s expertise in thermodynamics, energy conservation, and environmental protection is expected to provide valuable insight as XTI Aerospace continues the development of the TriFan 600, a VTOL aircraft. His background includes securing multiple patents and leading strategic initiatives in technology and finance, with a focus on sustainability in various industries, including agriculture and healthcare.
Scott Pomeroy, Chairman and CEO of XTI Aerospace, expressed honor in welcoming Archduke Sandor as the first international member of the advisory team, anticipating contributions to the company’s global presence. Michael Tapp, Advisory Board Chairman, also commented on the strategic benefits of the Archduke’s experience for guiding XTI through growth phases in the aviation sector.
Archduke Sandor, a graduate in Mechanical Engineering with a specialization in environmental protection and alternative energy, has founded Krown Impact and the Krown Green Foundation, which are aligned with XTI’s commitment to environmentally conscious air mobility solutions. His advisory roles with European financial institutions and international organizations are seen as reinforcing his ability to assist XTI Aerospace in achieving a technologically advanced future in aviation.
XTI Aerospace is known for developing the TriFan 600, an aircraft designed to combine the vertical lift capability of a helicopter with the speed and range of a fixed-wing business aircraft. The company also operates Inpixon, a business unit specializing in real-time location systems (RTLS) technology. The company’s stock has faced significant headwinds, declining 99.58% over the past year. InvestingPro subscribers have access to 18 additional key insights about XTIA’s financial health and market performance.
This appointment is part of XTI Aerospace’s efforts to evolve the powered-lift sector of aviation and to redefine air mobility with a focus on sustainable solutions. With a weak Financial Health Score of 0.9 out of 5 on InvestingPro, and a current ratio of 0.46, the company faces significant challenges in its journey toward sustainable aviation. The information regarding Archduke Sandor Habsburg-Lothringen’s appointment is based on a press release statement from XTI Aerospace. Unlock comprehensive financial analysis and real-time alerts with InvestingPro’s advanced tools and metrics.
In other recent news, XTI Aerospace has made significant strides with its TriFan 600 aircraft by completing a crucial design update to the engine air inlet and exhaust system, enhancing performance for its twin turboshaft engines. In addition, the Federal Aviation Administration (FAA) has accepted XTI Aerospace’s Type Certification application for the TriFan 600, marking a pivotal step in the certification process. The company also announced a $5 million stock buyback program, reflecting its belief in the intrinsic value of its shares. Furthermore, XTI Aerospace has successfully completed a downwash study for the TriFan 600, focusing on airflow patterns during vertical takeoff and landing. This study is part of the company’s first-quarter milestones, which include optimizing fuel system design and refining engine air inlets and exhaust. XTI Aerospace has also regained compliance with Nasdaq’s minimum bid price requirement, following a period of non-compliance. The company continues to focus on strategic initiatives to drive growth and enhance shareholder value.
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