On Monday, XTI Aircraft Company and Bye Aerospace, Inc. announced they have entered into an agreement to develop a hybrid/electric prototype of XTI’s revolutionary TriFan vertical takeoff airplane.
While sharing details about the partnership, Robert J. LaBelle, XTI’s CEO, stated:
“We’re continuing with our plan, but we’ve made two important changes. First, with the engineering expertise of the team at Bye Aerospace, this first prototype will be powered by a state-of-the-art hybrid-electric propulsion system. Second, because we’re now able to significantly reduce the weight and cost of producing the TriFan, our first prototype will be a full-size TriFan 600 instead of the 65% subscale version. We’re replacing the transmission, gears, two large heavier engines and other components with electric motors, batteries, generators, and a single smaller turboshaft engine.”
George Bye, founder, chairman, and CEO of Bye Aerospace, also commented:
“Advanced electric power for aircraft makes the hybrid-electric configuration compelling for the TriFan. We can now bring together into one extraordinary airplane, battery power, electric motors, and a light efficient engine in a vertical takeoff and landing platform. The TriFan will achieve unprecedented performance and operating economy while being safer, lighter, quieter and cleaner. We’re very excited to team with XTI on this game-changing VTOL project.”
The TriFan 600 is described as a six-seat aircraft that will have the speed, range, and comfort of a business jet and the ability to take off and land vertically, like a helicopter. It will travel at over 300 miles an hour and a range of more than 1,200 miles. XTI reports that the TriFan 600 will reach 35,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.
XTI previously launched a StartEngine campaign under the Regulation A+ rules, which went into effect in May 2016. The company also opened a $20 million Series B funding round in the fourth quarter of 2016. The round was led by Wall Street investment bank, Primary Capital.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!