ENGLEWOOD, Colo., March 24, 2025 /PRNewswire/ -- XTI Aerospace, Inc. (NASDAQ: XTIA), a pioneer in VTOL and powered-lift aircraft solutions, today announced the appointment of Archduke Sandor Habsburg-Lothringen to its Corporate Advisory Board. Archduke Sandor Habsburg-Lothringen brings over 30 years of expertise in global business strategy, sustainable energy, telecommunications, and financial services to XTI Aerospace. With a background in thermodynamics, energy conservation, and environmental protection, ...

Core Insights - The updated design of the TriFan 600's engine air inlet and exhaust significantly enhances air intake and exhaust flow, optimizing performance for both vertical and conventional flight modes [1][2] - The design improvements are a result of advanced digital mock-up (DMU) and computational fluid dynamics (CFD) analysis, demonstrating the company's commitment to innovation and customer focus [2] - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with vertical takeoff and landing (VTOL) capabilities, aiming to create a new category of aircraft known as vertical lift crossover airplane (VLCA) [3] Engineering Milestones - The company has outlined six core product and engineering milestones for Q1, including: - Downwash/outwash study to analyze airflows during vertical takeoff and landing [4] - Type certification application to the FAA for the TriFan 600 [4] - Optimization of engine air inlets and exhaust design for enhanced propulsion performance [4] - Fuel system design to increase fuel capacity and reduce unusable fuel [4] - Development of a flight deck human factors mockup for ergonomic evaluation [4] - Update of the Global Finite Element Model (GFEM) for structural evaluation [4]

Core Insights - XTI Aerospace's Type Certification (TC) application for the TriFan 600 was accepted by the FAA, marking a significant milestone in the company's product and engineering progress for Q1 2025 [1][2][3] - The company is collaborating with the FAA's Innovation Office to develop powered-lift requirements, which is crucial for advancing the certification process [2][3] - The TriFan 600 is designed to have VTOL capabilities, speeds of 345 mph, and a range of 700 miles, creating a new category known as vertical lift crossover airplane (VLCA) [5] Product and Engineering Milestones - Completed milestones include a downwash/outwash study, which analyzes airflows during vertical takeoff and landing to evaluate safety and performance [7] - The company has outlined additional milestones to be completed, including optimizing fuel system design, enhancing engine air inlets and exhaust, developing a flight deck mockup, and updating the Global Finite Element Model (GFEM) [7]

Core Viewpoint - XTI Aerospace has authorized a share repurchase program to buy back up to $5 million of its common stock, reflecting the company's belief in the undervaluation of its shares [1][3]. Group 1: Share Repurchase Program - The share repurchase program allows XTI Aerospace to purchase common stock through various means, including open market transactions and privately negotiated transactions, in compliance with applicable securities laws [2]. - The program has an initial term of twelve months, which may be extended to eighteen months, and can be suspended or discontinued at any time [2]. - As of March 18, 2025, XTI Aerospace had approximately 3.7 million shares of common stock outstanding [3]. Group 2: Company Confidence and Future Potential - The decision to implement the share buyback program is based on the company's strong confidence in its intrinsic value and future potential, as stated by the Chairman and CEO [3]. - The company aims to deliver long-term value to shareholders and believes its progress towards market leadership reinforces confidence in its long-term success [3]. Group 3: Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with vertical takeoff and landing (VTOL) capabilities, designed to reach speeds of up to 345 mph and a range of approximately 700 miles [4]. - The company also has a business unit, Inpixon, which specializes in real-time location systems (RTLS) technology, serving customers globally to optimize operations and enhance safety [4].

Core Insights - XTI Aerospace's Hangar X Studios will participate in the Verticon 2025 conference, showcasing aerospace media and innovation [1][4] - The conference is expected to attract over 15,000 attendees and 600+ exhibitors, focusing on advancements in vertical takeoff and landing (VTOL) technology [4] Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with VTOL capabilities, speeds of 345 mph, and a range of 700 miles [5] - The company also has a business unit, Inpixon, specializing in real-time location systems (RTLS) technology for industrial applications [5] Event Details - Hangar X Studios will host live podcast recordings at booth 7340 during Verticon 2025, featuring interviews with aerospace industry leaders [2][3] - The event aims to foster collaboration and showcase cutting-edge technologies in the aerospace sector [4]

Core Insights - XTI Aerospace has appointed Len Urbas as Senior Vice President of Corporate Development, bringing extensive expertise in investment banking, private equity, and strategic growth to the company [1][2][3] - Mr. Urbas's experience spans various industries, including healthcare, technology, financial services, and aerospace, positioning him to advance XTI's mission in the vertical takeoff and landing (VTOL) market [1][2] - The company is focused on redefining air travel and expanding its presence in the rapidly evolving VTOL industry, with Mr. Urbas expected to play a crucial role in this growth [1][3] Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft designed for vertical takeoff and landing, capable of speeds of 345 mph and a range of 700 miles, creating a new category known as vertical lift crossover airplane (VLCA) [4] - The company also has a business unit, Inpixon, which specializes in real-time location systems (RTLS) technology, providing solutions to optimize operations and enhance safety in industrial facilities [4]

Core Points - XTI Aerospace has regained compliance with Nasdaq's minimum bid price requirement, confirming that its common stock has maintained a bid price of $1.00 or greater for over 10 consecutive business days [1][3][4] - The company attributes this achievement to its strategic initiatives aimed at driving growth and delivering long-term value to shareholders [3][4] - XTI Aerospace is focused on advancing its vertical takeoff and landing (VTOL) aircraft technology, specifically the development of the TriFan 600 aircraft [5] Company Overview - XTI Aerospace, Inc. is the parent company of XTI Aircraft Company, which is developing the TriFan 600, a fixed-wing business aircraft with VTOL capabilities, capable of speeds up to 345 mph and a range of 700 miles [5] - The company also includes Inpixon, a leader in real-time location systems technology, providing solutions to optimize operations and enhance safety in industrial facilities [5]

Core Insights - XTI Aerospace's business unit Inpixon has won the "RTLS Solution of the Year 2025" award at the IoT Breakthrough Awards, competing against over 40 entrants [1][2] - Inpixon's RTLS solutions enhance operational efficiency, safety, and decision-making across various industries [1][3] Company Overview - XTI Aerospace, Inc. is developing the TriFan 600, a fixed-wing business aircraft with VTOL capabilities, speeds of 345 mph, and a range of 700 miles [5] - Inpixon specializes in real-time location systems (RTLS) technology, providing solutions that optimize operations and enhance safety in sectors like manufacturing, logistics, and government [5][3] Industry Recognition - The IoT Breakthrough Awards recognize top companies and technologies in the global IoT market, highlighting Inpixon's leadership in RTLS technology [2] - The award reflects Inpixon's commitment to delivering AI-powered location-aware solutions that address modern workplace complexities [3]

Core Insights - XTI Aerospace has appointed Stephanie Chung to its Corporate Advisory Board, bringing over 35 years of experience in aviation and aerospace [1][2][3] - Chung has held senior leadership roles at notable companies such as Wheels Up, JetSuite, and Bombardier, where she focused on market expansion and operational efficiencies [1][2] - The company is developing the TriFan 600, a vertical lift crossover airplane (VLCA) with capabilities for vertical takeoff and landing, speeds of 345 mph, and a range of 700 miles [4] Company Overview - XTI Aerospace is based near Denver, Colorado, and is the parent company of XTI Aircraft Company [4] - The TriFan 600 aims to create a new category in aviation by combining the features of helicopters and fixed-wing aircraft [4] - XTI Aerospace also has a business unit, Inpixon, that specializes in real-time location systems (RTLS) technology for industrial applications [4] Leadership Insights - Scott Pomeroy, Chairman and CEO of XTI Aerospace, expressed enthusiasm about Chung's appointment, highlighting her experience in driving growth and operational success [3] - Chung is excited to contribute to XTI's mission and aims to help expand the company's footprint and growth trajectory [3] Recognition and Contributions - Chung has received multiple accolades, including recognition from AdWeek, Robb Report, Savoy Magazine, and D CEO Magazine for her influence in the industry [2] - She is also involved with various boards and advisory councils, including the Make-A-Wish Foundation and the National Business Aviation Association [1][2]

Core Insights - XTI Aerospace is set to reopen pre-sales for its flagship TriFan 600 airplane later in 2025, aiming to redefine regional air travel with innovative point-to-point solutions [1] - The company plans to unveil a new unmanned subscale model, "Sparrow," to validate flight dynamics, followed by the launch of another model, "Kestrel," to further evaluate aerodynamics and flight controls [2][4] - The certification process with the FAA is ongoing, with several key engineering milestones outlined to ensure the TriFan 600's readiness for commercial release [6][8] Product Development Milestones - The company will complete a series of key product and engineering accomplishments leading up to the Sparrow release, including launching more complex subscale prototypes of the TriFan 600 [3] - The upcoming goals include launching the Kestrel model to evaluate flight controls and reintroducing aircraft pre-sales for fleet operators and customers [4][5] Certification Process - The certification pathway includes optimizing the fuel system design, enhancing engine air inlets and exhaust, conducting downwash studies, and developing a flight deck mockup [6] - The process involves several high-level gates, including Preliminary Design Review (PDR), Critical Design Review (CDR), First Flight, and Type Certification [7][8] Company Overview - XTI Aerospace is developing the TriFan 600, a fixed-wing business aircraft with VTOL capabilities, designed to reach speeds of 345 mph and a range of 700 miles, creating a new category known as vertical lift crossover airplane (VLCA) [9]