Press Release
Issued by XTI Aircraft Company.
July 20, 2022
XTI Aircraft Company (XTI) has announced that Scott Pomeroy has become XTI's new chief financial officer, effective July 1. He joins XTI after over 35 years' experience in launching new businesses, raising capital, serving as the founder and CEO, president and chief financial officer of several companies, as well as having served on several boards, including the board of directors of AVX Aircraft Company since 2009. Mr. Pomeroy brings exceptional experience and knowledge to this role. Most recently, he co-founded Gen3 Financial Services, a boutique merchant bank providing capital raising and business advisory services to clients in a variety of industries including aerospace. He led capital raising efforts for a $50 million fund in 2021-22. Mr. Pomeroy began his career at KPMG Peat Marwick. He has a BBA in accounting and is a Certified Public Accountant.
“I'm fortunate to come into this position with XTI after the company has already completed substantial engineering on the TriFan and positioned itself for growth,” Pomeroy said. “I'm excited to help bring to the commercial market and business aircraft market a revolutionary new aircraft that people have been seeking and dreaming about for over 100 years.”
“We couldn't be more excited to have Scott step in, join our team and lead our financing strategy at this time,” said Mike Hinderberger, XTI's CEO. “Scott is a highly respected, talented and experienced financial industry and tech industry executive.”
“Scott will have a major role in laying out the long-term strategy and future of XTI,” added David Brody, founder and chairman of XTI. “As CEO and CFO of his previous companies, he led equity and debt capital raises of more than $10 billion.”
Pomeroy replaces Sarita Jha who is no longer with the company.
Recounting the company's progress over the past few years, Brody continued, “We conducted a series of successful hover tests in 2019 before the pandemic slowed us down. We've continued our collaboration with a number of key suppliers, we've commenced the process to secure FAA certification and we've received over 300 reservations, firm orders and options for the airplane so far. This represents about $2.25 billion in gross revenues upon delivery of those aircraft, and represents full production capacity for the first two to three years of XTI's commercial operations.”
The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 700 miles with a vertical takeoff and vertical landing, and up to 850 miles with a conventional takeoff and a vertical landing. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 29,000 feet in just 15 minutes and cruise to the destination as a highly efficient business aircraft.
“The market continues to recognise the value proposition of our unique and revolutionary airplane and its patented technology,” said Brody. “Vertical takeoff combined with long-range, the speed and comfort of a business aircraft and operating costs significantly lower than competing helicopters or fixed-wing airplanes.”
