XTI Aerospace today announced that its subsidiary, XTI Aircraft Company has signed a Letter of Intent with AVX Aircraft Company, a provider of 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 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.”
Under the proposed terms of the definitive agreement, XTI Aircraft, led by XTI Aerospace Senior Vice President of Business and Program Development Don Purdy, will provide management, direction, and oversight of the TriFan 600 program. AVX will become the prime contractor including detailed design, program management, subcontract management and certification support services.
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