XTI Aerospace, Inc. (NASDAQ: XTIA) shares are experiencing a sharp rise on the stock market, climbing 66.68% to reach $5.08 at last check. The rise comes after it was announced that former Paramount Group Ltd. Group CEO Stephen (Steve) Griessel has joined XTI’s Corporate Advisory Board.
An Experienced Leader Enters at a Crucial Point
The hiring of Mr. Griessel demonstrates XTI’s continued efforts to leverage the increasing significance of vertical takeoff and landing (VTOL) technology in both the commercial and national security domains. He has almost forty years of senior leadership experience in manufacturing, aerospace, military, investment, and tourism.
Currently serving as CEO of Copperstone Capital Partners, he oversees a diverse investment portfolio, including defense and software assets tied to the Ichikowitz family. His extensive background aligns closely with XTI’s ambitious vision to redefine air mobility through advanced VTOL platforms.
Accelerating Entry into the Vertical Economy
XTI Aerospace is actively executing its strategy to lead the “Vertical Economy”—a rapidly growing sector that demands agility, speed, and extended range in aviation operations. It is anticipated that Mr. Griessel’s demonstrated ability to turn defense organizations into internationally scalable OEMs would increase XTI’s market share in the commercial and defense aviation sectors. Navigating the changing strategic and regulatory environment for xVTOL (hybrid-electric VTOL) systems will be made easier with his leadership.
TriFan 600: A Revolutionary Development
At the heart of XTI’s product plan is the TriFan 600, a next-generation VTOL aircraft that combines the vertical lift capabilities of a helicopter with the speed and range of a fixed-wing aircraft. With a range of over 1,000 miles and top speeds of 300 mph, the TriFan 600 is made to run on current infrastructure without the need for electric recharge stations.
It is therefore especially well-suited for mission-specific activities in operations in the commercial, military, private, and governmental sectors. Thanks to its consistent investment in manned and unmanned aerial systems (UAS) and its clear vision for the future of hybrid aviation, XTI Aerospace is positioning itself as a pioneer in the xVTOL area, prepared to revolutionize international air travel.
