A Ducted Fan VTOL May Be Coming?
A Denver-based start-up has raised $10 million in equity “crowdfunding” to help develop a ducted-fan powered, fixed-wing business aircraft called the TriFan 600.
XTI began a crowdfunding campaign on the website startengine.com on 25 August, soliciting contributions that will be converted into shares after the company holds an initial public offering.
It plans to register with the US Securities and Exchange Commission (SEC) within a “few months”, says XTI vice chairman Jeff Pino, a former president of Sikorsky.
If the SEC approves the filing, the investors who contributed on startengine.com can turn “expressions of interest into share purchases”, Pino says.
XTI also is privately raising funding from venture capital, private equity and accredited investors.
More discussions are under way with vendors, which “will lead to building a prototype”, the company says in a news release.
XTI began developing the TriFan 600 in early 2013, seeking to design an aircraft with business jet-like speed and the take-off and landing performance of a helicopter. The company claims the TriFan 600 will become the first certificated vertical take-off aircraft, perhaps drawing a distinction between it and the developmental AgustaWestland AW609 civil tiltrotor.
READ MORE: Flightglobal