DENVER, Nov. 18, 2015 /PRNewswire/ -- The TriFan 600 is a 2015 Popular Science "Best of What's New" Award Winner in the aerospace category. Popular Science annually selects the 100 greatest innovations of the year, each representing a significant step forward in their respective categories. The TriFan 600 and other honorees are celebrated in the magazine's December issue, on newsstands now.
Developed by XTI Aircraft Company, the TriFan 600 is a six-seat fixed-wing airplane with the speed, range and comfort of a business jet, and the ability to take off and land like a helicopter. It will be the first commercially certified high-speed, long-range vertical takeoff and landing (VTOL) airplane to provide true door-to-door travel.
"The Best of What's New awards honor the innovations that surprise and amaze us — those that challenge our view of what's possible in the future," said Cliff Ransom, editor-in-chief of Popular Science. "The award is Popular Science's top prize, and the 100 winners — chosen from among thousands of nominees — are each a revolution in their respective fields."
"This is gratifying news and an honor for XTI and our supporters," said David Brody, founder and chairman of XTI Aircraft Company. "After working on the engineering and analyzing the market for the TriFan for three years, this award is further validation that TriFan 600 will be a true game-changer."
XTI filed an application last week with the U.S. Securities and Exchange Commission (SEC) to qualify the company's equity crowdfunding campaign. When approved, that campaign will allow the general public to buy shares in XTI. As of today, the campaign is approaching $15 million in expressed interest from people who want to invest in the company. XTI expects qualification from the SEC early next year to convert that interest into actual shares in the company. It's still possible to secure an equity stake by signing up at www.startengine.com/startup/xti.
In addition to raising capital, the team is currently focused on finalizing diligence on its technology and talking with key vendors. XTI plans to produce and test fly its first prototype by mid-2018.
XTI Aircraft Company is led by a team of aviation industry veterans including Brody, Vice Chairman Jeffrey Pino, who is the former president and chief executive of Sikorsky Aircraft Corporation, and other industry experts and leaders from Cessna and Piper Aircraft companies. A new video features Pino discussing XTI's vision to transform personal air transportation, and details about plans for the TriFan 600. The video is available for viewing at www.startengine.com/startup/xti.
XTI Aircraft Company is a privately owned aviation business based in Denver. XTI is guided by a leadership team with decades of experience, a deep well of expertise, 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
ABOUT POPULAR SCIENCE
Founded in 1872, Popular Science is the world's largest science and technology magazine, with a circulation of 1.3 million and 6.8 million monthly readers. Each month, Popular Science reports on the intersection of science and everyday life, with an eye toward what's new and why it matters. Popular Science is published by Bonnier Active Media, a subsidiary of Bonnier Corporation.
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NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT FILED BY THE COMPANY WITH THE SEC HAS BEEN QUALIFIED BY THE SEC. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE STATE OF QUALIFICATION.
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SOURCE XTI Aircraft Company