XTI Aircraft Company announced that the China National Intellectual Property Administration has issued a new utility patent related to the TriFan 600, a fixed-wing, vertical takeoff and landing aircraft in development.
This patent focuses on the aircraft’s pivoting ducted fans, which enable it to shift from vertical takeoff to forward cruise. This development comes as China emerges as one of the fastest-growing aerospace markets, with projections suggesting it may become the world’s largest domestic aviation market within the next two decades.
Scott Pomeroy, Chief Financial Officer of XTI and the future Chief Executive Officer following the merger with Inpixon, commented: “The new patent expands on the original patent granted by China to XTI in September 2019. Following the initial patent, we submitted a further application which has now been approved. This recent issuance brings our Chinese patent in line with the protection we hold for the TriFan 600 in the U.S., Europe, and other countries. We view our extensive patent portfolio as a strategic asset, showcasing our innovation and the potential for future revenue. It not only protects our intellectual property but also allows us to stand out in the market, deter competitors, and support strategic growth and expansion.”
XTI and Indoor Intelligence company Inpixon, who use, analytics, sensor fusion, IIoT and the IoT, continue to advance their planned merger and to close in Q1 2024.
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