The world’s first commercial vertical takeoff airplane is nearing reality, with a promise it will pioneer a new era of flight, changing the way the world flies.
Described as having the range, speed and comfort of a business jet combined with the ability to take off and land like a helicopter, the ground-breaking XTI TriFan 600 project has already received non-binding “indications of interest” that total $18,612,813.
After more than two years of development, equity crowdfunding last September raised more than $4 million in just two weeks. It was the first time crowdfunding had been used for commercial airplane development, and the developers said they were overwhelmed by the response.
XTI vice chairman, Jeff Pino explained the incredible interest in the revolutionary aircraft, saying people were “captivated and excited” by the possibilities it presented. He said people recognized it could be “a once-in-a-lifetime opportunity” and were therefore keen to get involved as stakeholders early.
XTI TriFan 600 crowdfunding is being driven by StartEngine, an entrepreneurial business that offers investment opportunities, rather than just asking for donations. However, even StartEngine CEO Ron Miller described the response as extraordinary. “The company is clearly on course to change the future of flight.”
In addition to crowdfunding, XTI is also raising money through venture capital, private equity and accredited investors. Opportunities for members of the general public to become shareholders are time-limited.
About the TriFan 600
The TriFan 600 is a six-seater aircraft (pilot plus five passengers) that will be able to transport passengers door-to-door rather than airport-to-airport. All it needs to land is a clear helipad-sized paved surface.
It is designed to fly as high and as fast as possible, above predominant weather conditions. Because it is very spacious, it could also be used for medical evacuations or as an air ambulance.
The structure itself will be made of carbon fiber and epoxy.
Its name comes from three ducted rotating fans, powered by two high-performance turboshaft engines that produce columns of air capable of pushing the airplane straight up into the sky, to its maximum altitude in just 11 minutes. Once the plane is in the air, the two wing fans swing forward 90 degrees and the fuselage fan closes up. Like all other fixed-wing aircraft, the wings provide lift.
The XTI TriFan 600 is designed to take just 90 seconds to reach a maximum speed of 400 miles an hour. It will have a maximum cruising altitude of 30,000 feet and a range of between 800 and 1,200 miles, which is similar to the range of many private jets.
The People Behind the XTI TriFan 600
Development of the exciting new, futuristic TriFan 600 is being lead by a highly accomplished team of visionary, aviation super-stars, with proven industry experience. They are:
- David Brody, founder and chairman of XTI. Brody previously founded AVX Aircraft Company, a successful advanced technology helicopter company, and he holds several patents in aviation and other fields.
- Jeff Pino, former president and chief executive of Sikorsky Aircraft Corporation that he grew from a $2 billion to a $7 billion company. A certified airplane and helicopter instructor pilot and aerobatic performer, he was also senior vice president at Bell Helicopter.
- Charles B. Johanson, former president and COO of Cessna. An accomplished test pilot, he was chief of production flight test for Gates Learjet and chief pilot for Arnold Palmer.
- Dennis Olcott, XTI’s senior vice president of engineering previously led the development teams at Adam Aircraft and Piper Jet.
Together they are continuing to find a better way to fly!