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ENGLEWOOD, Colo. - XTI Aerospace, Inc. (NASDAQ: XTIA), a micro-cap aerospace company with a market value of $10.77 million, announced today the successful completion of a critical downwash study for its TriFan 600 aircraft, marking a significant first-quarter product and engineering milestone. According to InvestingPro data, the company’s stock is currently trading near its 52-week low, though analysis suggests it may be undervalued at current levels. The study focused on the airflow patterns during vertical takeoff and landing, a vital aspect of safety and performance for the innovative aircraft.
The TriFan 600, a vertical takeoff and landing (VTOL) aircraft, is designed to combine the agility of a helicopter with the speed and range of a fixed-wing airplane. The downwash/outwash study aimed to analyze the airflows generated by the aircraft to ensure operational safety and efficiency. According to Dave Ambrose, VP of Engineering at XTI Aircraft, the controlled airflow achieved by the ducted fans allows individuals to be closer to the TriFan during takeoff and landing without risk, enhancing safety and operational flexibility.
The study’s results indicate that the dynamic pressure from the airflow dissipates more quickly compared to traditional helicopters, reducing the Downwash Caution Area (DCA) to 53 feet, comparable to the Joby S4 DCA. This finding is significant as the Federal Aviation Administration (FAA) defines the DCA as areas where velocity exceeds 34.5 mph.
XTI Aerospace continues to progress through its six core product and engineering milestones set for the first quarter of 2025, though InvestingPro analysis indicates the company faces significant financial challenges with a weak financial health score and rapidly depleting cash reserves. Following the downwash/outwash study, the company plans to optimize the fuel system design, enhance engine air inlets and exhaust, develop a flight deck human factors mockup, apply for FAA type certification, and update the global finite element model. With a current ratio of 0.46, the company’s ability to meet short-term obligations warrants careful monitoring.
The TriFan 600 aims to revolutionize the aviation market with its VTOL capability, promising speeds of 345 mph and a range of 700 miles. XTI Aerospace also operates a business unit specializing in real-time location systems (RTLS) technology, further showcasing the company’s commitment to innovation in aviation and industrial productivity solutions.
This announcement is based on a press release statement from XTI Aerospace, Inc. and contains forward-looking statements subject to risks and uncertainties. The company cautions that actual results may differ materially from those projected due to various factors. Financial metrics from InvestingPro reveal negative EBITDA of $19.72 million, highlighting the company’s current challenges. Investors can access 18 additional ProTips and comprehensive financial analysis through an InvestingPro subscription.
In other recent news, XTI Aerospace has made significant strides in various areas, notably regaining compliance with Nasdaq’s minimum bid price requirement. The company confirmed that its stock maintained a closing bid price at or above $1.00 for over ten consecutive business days. Additionally, XTI Aerospace has raised $45 million through the sale of common stock, which will support the development of its TriFan 600 aircraft. The company also completed a General Familiarization meeting with the FAA, advancing towards obtaining a Type Certification for the TriFan 600. In another development, XTI Aerospace has secured access to the Frontier supercomputer, allowing for enhanced computational fluid dynamics simulations to optimize the TriFan 600’s design. Furthering its growth, XTI has appointed Kimberly Montgomery to its Corporate Advisory Board, bringing her extensive experience in air medical transport. The company has set key milestones for 2025, including unveiling new subscale models and resuming pre-sales for the TriFan 600. These steps are part of XTI’s ongoing efforts to redefine air travel with innovative aircraft technology.
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