ENGLEWOOD, Colo., June 4, 2024 /PRNewswire/ — XTI Aerospace, Inc. (NASDAQ: XTIA) (“XTI Aerospace”, or the “Company”) today announced that its subsidiary, XTI Aircraft Company (“XTI Aircraft”), has signed a Letter of Intent (“LOI”) with AVX Aircraft Company (“AVX”), a leader in advanced vertical lift solutions, to provide development, design, and certification services to support XTI Aircraft’s proprietary and patented TriFan 600, a fixed-wing aircraft with vertical takeoff and landing (“VTOL”) capability. The definitive agreements are expected to be signed in the coming weeks.
“The relationship with AVX provides XTI Aircraft with seasoned engineering talent and a company highly experienced in designing and developing vertical lift aircraft technology,” said Scott Pomeroy, chairman and chief executive officer of XTI Aerospace. “AVX will help refine our current design, which we expect will accelerate the TriFan 600 development program while significantly reducing expenses for certain engineering capabilities and services.”