ENGLEWOOD, Colo., Nov. 14, 2024 /PRNewswire/ — XTI Aerospace, Inc. (Nasdaq: XTIA) (“XTI Aerospace” or the “Company”) as of late equipped a trade replace and introduced the scheduled submitting of its quarterly record on Mode 10-Q for the quarter ended September 30, 2024.

“We are making steady progress as it relates to the development of the TriFan 600, a fixed-wing, vertical lift crossover airplane uniquely designed to meet the needs of the evolving aviation industry and its customers,” commented Scott Pomeroy, CEO of XTI Aerospace. “We’re nearing the of entirety of our conceptual design evaluation segment, which can constitute a vital milestone in our move towards commercialization. This proceed underscores our constancy to thorough making plans and innovation. Importantly, we look forward to transitioning into the initial design evaluation degree in early 2025, the place we will be able to refine our designs and additional build our engineering answers.

“Supporting this proceed, we’ve effectively introduced Model 1.9 of our Gliding Transition Simulator (FTS). This complicated simulator is notable for optimizing the transition between vertical raise and wing-borne flying, a key constituent of the TriFan 600. The new replace comprises One-Engine-Inop (OEI) features, which allows reasonable simulations of engine-out situations throughout important flying stages. We consider such improvements will considerably bolster the simulator’s accuracy and reliability, making sure that our pace operators are well-prepared for any operational problem.

“As well as, the Federal Gliding Management lately revealed its Particular Federal Gliding Law, starting a regulatory framework for powered-lift operations. We consider this ruling represents a important milestone for the flying business’s evolution towards more secure, extra environment friendly vertical takeoff and touchdown operations. We sit up for the transformative have an effect on we think this framework will deliver to city mobility and regional transportation together with the TriFan 600.

“Moreover, we have made significant strides in enhancing our leadership team. First, we formed a Corporate Advisory Board comprised of industry veterans and thought leaders, bringing on Michael Tapp as Chairman, and adding Javier de la Peña, Strategy and Operations Executive at Woven by Toyota, a Toyota Motor Corporation Group Company, as well as others to the group. These members will provide invaluable insights and guidance on the Company’s growth strategy, which we expect to help us capitalize on emerging trends and opportunities in the aerospace sector. Additionally, Tobin Arthur has joined the team as Chief Strategy Officer. Tobin has a proven track record in strategic planning and business development, and is focusing on refining our strategic initiatives, expanding market reach, and fostering relationships with key stakeholders. Overall, we are very proud of the progress we have made and look forward to reporting on additional developments in the near-term.”

The Corporate’s quarterly record on Mode 10-Q for the quarterly duration ended September 30, 2024, is scheduled to be filed with the U.S. Securities and Trade Fee as of late. The Mode 10-Q can also be to be had at the Corporate’s web page.

About XTI Aerospace, Inc. 

XTI Aerospace (XTIAerospace.com) (Nasdaq: XTIA) is the dad or mum corporate of XTI Plane Corporate (XTIAircraft.com), an flying trade based totally akin Denver, Colorado, lately creating the TriFan 600, a fixed-wing trade plane designed to have the vertical takeoff and touchdown (VTOL) capacity of a helicopter, speeds of 345 mph and a field of 700 miles, growing a wholly untouched division – the vertical raise crossover aircraft (VLCA). Moreover, the Inpixon (inpixon.com) trade unit of XTI Aerospace is a pace-setter in real-time location methods (RTLS) generation with consumers all over the world who usefulness the Corporate’s location prudence answers in factories and alternative business amenities to support optimize operations, building up productiveness, and reinforce protection. For more info about XTI Aerospace, please consult with XTIAerospace.com, and observe the Corporate on LinkedIn, X, and YouTube.

Concentrate to the Hangar X Studios podcast right here: https://hangarxstudios.com/.

Cautionary Remark Referring to Ahead-Having a look Statements

This press leave comprises positive “forward-looking statements” inside the that means of america Non-public Securities Litigation Reform Office of 1995, Division 27A of the Securities Office, and Division 21E of the Trade Office. All statements alternative than statements of ancient truth contained on this press leave, together with with out limitation, statements about XTI Aerospace’s talent to reach expected milestones within the timeframes lately expected or in any respect, the accuracy of XTI Aerospace’s Gliding Transition Simulator, the goods below construction via XTI Aerospace, the benefits of XTI Aerospace’s generation, and XTI Aerospace’s consumers, plans and methods are forward-looking statements.

A few of these forward-looking statements will also be known via the usefulness of forward-looking phrases, together with “believe,” “continue,” “could,” “would,” “will,” “estimate,” “expect,” “intend,” “plan,” “target,” “projects,” or the negatives of those phrases or permutations of them or matching expressions. All forward-looking statements are matter to dangers, uncertainties, and alternative components which might reason unedited effects to range materially from the ones expressed or implied via such forward-looking statements. All forward-looking statements are based totally upon estimates, forecasts, and guesses that, era thought to be affordable via XTI Aerospace and its control, are inherently unsure, and plenty of components would possibly reason the unedited effects to range materially from stream expectancies. XTI Aerospace undertakes incorrect legal responsibility to revise any forward-looking statements to deliver to mirror occasions or cases that would possibly due to this fact get up. Readers are instructed to scrupulously evaluation and believe the danger components mentioned from generation to generation in XTI Aerospace’s filings with the SEC, together with the ones components mentioned below the caption “Risk Factors” in its most up-to-date annual record on Mode 10-Okay, filed with the SEC on April 16, 2024, and in next experiences filed with or furnished to the SEC.

Contacts

Common inquiries:
Electronic mail: [email protected] 
Internet: https://xtiaerospace.com/contact/ 

Investor Members of the family:
Crescendo Communications
Tel: +1 212-671-1020
Electronic mail: [email protected]

SOURCE XTI Aerospace, Inc.

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