The proposed transaction will create a public company engaged in developing VTOL aircraft and offering real-time location systems. Pre-orders over 700 aircraft could generate revenues of $7.1 bn upon delivery.

After working for a year on advancing TriFan engineering, Hinderberger is eager to apply that knowledge more broadly to the company’s operations and long term plans.

XTI is to offer a limited series MKC TriFan 600 that will feature plant-based materials throughout a custom interior designed by US celebrity chef Matthew Kenney.