A crowd funding campaign has launched to develop the TriFan 600, a six-seat fixed-wing airplane designed to fly as fast, as high, and as far as other business jets, but with the ability to takeoff and land vertically.
XTI Aircraft Company is launching the equity crowdfunding campaign under new rules approved by the U.S. Securities and Exchange Commission. It is part of a larger capital financing plan that includes venture capital, private equity and high net worth investors.
“We view equity crowdfunding as a creative way to involve everyone as true stakeholders working together to pioneer this all new way to fly,” said David Brody, founder and chairman of Denver-based XTI. “It’s a way to turn all of our supporters into potential stockholders by providing the public a once-in-a-lifetime chance to get in early on something truly revolutionary.”
In development for over two years, the TriFan 600 is being designed and developed to become the first commercially certified high-speed, long-range vertical takeoff and landing (VTOL) airplane.
After he conceived and designed the TriFan 600, Brody assembled a leadership team to execute the vision, including XTI Vice Chairman Jeffrey Pino, the former president and chief executive of Sikorsky Aircraft; board member Charlie Johnson, former president of Cessna Aircraft Company, and Chief Engineer and board member Dennis Olcott, Ph.D., who previously served as chief engineer for Adam Aircraft and for the PiperJet program.
“This team knows exactly what is required to finance, design, certify and launch a program of this magnitude,” Pino said. “Our current efforts are focused on raising capital, finalizing diligence on our technical solution, and initial discussions with key vendors that will lead to building a prototype.”