XTI XMAS Horiztontal 2

 

2023 has been an exciting year here at XTI!

On July 24 we announced a definitive merger with Inpixon (INPX), a leading provider of real-time location systems (“RTLS”). Upon closing of the transaction, anticipated to occur around the end of the year, the combined company is planning to operate under the name XTI Aerospace, Inc. (“XTI Aerospace”) and to trade on the Nasdaq Capital Market under the symbol “XTIA”.

This will usher in a new and exciting chapter in XTI’s history, and I look forward to working with our exceptional team in accelerating aircraft development in 2024 and beyond.

On the engineering front, we have continued to make progress in developing and refining the TriFan 600, which we refer to as a Vertical Lift Crossover Airplane (VLCA) to distinguish ourselves from the many short-range, low speed eVTOL (electric Vertical Takeoff & Landing) aircraft under development. The TriFan truly combines the best of a business airplane and a helicopter.

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As we survey the business aircraft and evolving Advanced Air Mobility (AAM) markets, we are confident in our approach. While there are hundreds of companies developing all-electric short-range eVTOL (electric Vertical Takeoff & Landing) aircraft, we have few competitors in the longer-range regional business market. The TriFan’s unique ability to transport customers in a pressurized business airplane that takes off like a helicopter and lands at helipads, firm ground, parking lots or backyards (wherever it’s safe and legal), puts us in a niche with a limited number of players. We anticipate the TriFan will operate at slightly lower costs than helicopters which are similar in size to the TriFan, and the TriFan will also operate at twice the speed of those helicopters, resulting in TriFan missions being completed in half the time, hence at about half the costs and half the emissions.*

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We enthusiastically look forward to the next leg of our journey! Thank you for being a part of it.

I wish you and yours the best of the holidays. May 2024 be stellar!

Mike Hinderberger

CEO

*TriFan 600 aircraft under development. Estimated performance based on XTI Aircraft analysis. Subject to change and FAA certification.

 

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