• 10 Sep 2021 01:43 PM
• 0

XTI + Xeriant = $10M

On June 9, Xeriant, Inc., a new aerospace technology and advanced materials holding company, announced that it had signed a definitive joint venture agreement with Englewood, Colorado-based XTI Aircraft Company. The two companies have formed a 50/50 joint venture for development of XTI’s TriFan 600 hybrid-electric regional bizjet eVTOL; Xeriant has committed to invest $10M over the next year, starting with a $1M deposit. Presales for the TriFan 600 now top $1.3B, with 202 reservations, including 40 aircraft with firm purchase orders (see “Turning Point,” Vertiflite, July/Aug 2021).