Company adds more top talent as it nears close of equity crowdfunding offering April 30, 2021
XTI Aircraft Company (XTI), a privately-held company developing the world’s first long-range civilian vertical takeoff and landing airplane, announced the hiring of James Kromberg to lead XTI’s flight test team, and develop its training plan and test requirements for the TriFan 600.
Mr. Kromberg is a senior flight test pilot and aeronautical engineer with over 25 years flight test experience. During that period, he has been a pilot, test pilot, and instructor for several civilian and military organizations including First Officer and Flight Engineer for American Airlines, U.S.Marine Corps AV-8B Test Pilot, USAF F-35 Chief Test Pilot, as well as instructing in multiple additional aircraft while assigned to the USAF Test Pilot School.
"Adding Jim's amazing talents to an already stellar team further boosts our confidence and credibility.” — Robert LaBelle, XTI CEO
His education includes a Master of Science in Aviation Systems from the University of Tennessee, Bachelor of Science in Aeronautical Engineering from the Ohio State University, U.S. Air Force Test Pilot School at Edwards, Air Force Base, California, and U.S. Marine Corps Weapons and Tactics Course at MCAS, Yuma, Arizona.
“We’re very pleased to have Jim join XTI,” said Robert LaBelle, Chief Executive Officer of XTI, “Adding Jim's amazing talents to an already stellar team further boosts our confidence and credibility." As our program matures, Jim will lead the development of an integrated test & certification plan, along with technical and safety reviews. His responsibilities will also encompass development of program documents for system requirements, program management and systems engineering plans, along with test and certification strategies.”
On March 17, 2021, the company announced that it will permanently close its current financing on the StartEngine Crowdfunding platform, effective April 30, 2021. Until that date, XTI securities will continue to be available for purchase on StartEngine.com
“Our offering on the StartEngine platform has provided a rare opportunity for unaccredited and accredited investors around the world to own a piece of the future of flight,” said LaBelle. “In our original Reg A+ campaign and the current Reg CF offering combined, thousands of people have invested in XTI because of our game-changing product, world-class leadership team, and what we believe to be significant growth potential.”
As the world’s first long-range civilian VTOL airplane, the TriFan is a major breakthrough in aviation and air travel, including its quieter and cleaner state-of-the-art hybrid-electric propulsion system.
The six-seat TriFan 600 will have the speed, range, and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 1,200 nautical miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes, cruise as a highly efficient business aircraft, and land vertically at the destination.
“The company’s business prospects are strong,” said LaBelle. “We’ve recently achieved key milestones, including a series of successful hover tests, entered into a major collaboration with GE Aviation, and into agreements with key suppliers.” LaBelle continued, “The market continues to recognize the value proposition of our unique and revolutionary airplane and its patented technology. We believe the Trifan 600 will solve the fast and far challenge while providing point-to-point travel and out-performing other civilian aircraft currently in development…fixed-wing airplane, helicopter, electric VTOLs.”
LaBelle added, “We’re delighted we’ve received 116 orders for the TriFan 600 so far. This represents over $750 million in gross revenues upon delivery and puts us on track for certifying our aircraft and meeting our estimated launch in the mid-2020s.”
ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a privately owned aviation business based near Denver, Colorado. XTI is guided by a leadership team with decades of aviation experience and success bringing new aircraft to market. XTI is founded on a culture of customer-focused problem solving to meet the evolving needs of modern travelers.
For information and updates about XTI Aircraft Company and the TriFan 600, visit www.xtiaircraft.com. To invest, go to https://www.startengine.com/xti-aircraft.
For information on reserving a priority position for the TriFan under the Company’s pre-sales program, contact Mr. LaBelle.
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XTI Aircraft Company