XTI Aerospace Announces Memorandum of Understanding with VerdeGo Aero to Collaborate on Hybrid-Electric Technologies

Aeronautical startup VerdeGo Aero, Inc., a developer of hybrid-electric power systems for advanced aircraft and drones, today announced a partnership with XTI Aerospace, Inc. (Nasdaq: XTIA), the parent company of XTI Aircraft Company and Inpixon, to explore integration of hybrid-electric technologies. The agreement will focus on combining VerdeGo’s HERMES engine with XTI’s TriFan 600 aircraft.

“We are excited to announce this partnership with XTI Aerospace,” said Michel Ramalho, CEO of VerdeGo Aero. “Their innovative approach to developing a new category of xVTOL aircraft closely aligns with our mission to advance hybrid-electric technologies for aviation. We look forward to exploring synergies between our technologies and capabilities.”

“VerdeGo Aero has developed impressive hybrid-electric power systems that have the potential to revolutionize the aviation industry,” said Joseph Feo, CEO of XTI Aircraft Company. “We are interested in exploring how their engine technology could complement the TriFan 600, which is designed to provide the VTOL capability of a helicopter with the high cruising speeds and long range of a turbofan aircraft. We believe that combining our expertise could lead to the development of even more efficient and sustainable aircraft.”

Ramalho added, “We have reached TRL 7 in manned applications and achieved hundreds of hours of successful test operations. With strong support from both government and commercial programs, VerdeGo's dual-use systems are excellent solutions for a wide variety of advanced aircraft and drones for both propulsion and electric power generation. VerdeGo Aero is based at the Embry-Riddle Aeronautical University Research Park in Daytona Beach, Florida. For more information, please visit verdegoaero.com.”

About XTI Aerospace, Inc.

XTI Aerospace, Inc. (Nasdaq: XTIA) is the parent company of XTI Aircraft Company, an aviation business based near Denver, Colorado, currently developing the TriFan 600, a fixed-wing business aircraft designed to have the vertical takeoff and landing (VTOL) capability of a helicopter, maximum cruising speeds of 311 mph and a range of 985 miles, creating an entirely new category – the xVTOL. The company is also developing advanced hybrid-electric technologies for future generations of the TriFan aircraft.

Additionally, the Inpixon (inpixon.com) business unit of XTI Aerospace is a leader in real-time location systems (RTLS) technology with customers around the world who use the company's location intelligence solutions in factories and other industrial facilities to help optimize operations, increase productivity, and enhance safety.

For more information about XTI, please visit XTIAerospace.com and follow XTI on LinkedIn, Instagram, X, and YouTube.

About VerdeGo Aero, Inc.

VerdeGo Aero is a startup company developing hybrid-electric power systems for advanced aircraft and drones. The company’s HERMES engine is a modular, scalable system that can be adapted to a variety of manned and unmanned platforms. The engine combines a high-efficiency internal combustion engine with advanced electric motors, generators, and batteries to deliver superior performance and efficiency.

VerdeGo Aero's HERMES engine is designed to meet the demanding requirements of next-generation aircraft, such as low noise footprint, low operating emissions, and high levels of maintainability. The engine is also designed to be modular and scalable, allowing it to be adapted to a variety of aircraft types and missions.

"We are excited to be partnering with XTI Aerospace to explore integration of hybrid-electric technologies for the TriFan 600 aircraft," said Michel Ramalho, CEO of VerdeGo Aero. "Their innovative approach to developing a new category of xVTOL aircraft closely aligns with our mission to advance hybrid-electric technologies for aviation. We look forward to exploring synergies between our technologies and capabilities."

"VerdeGo Aero has developed impressive hybrid-electric power systems that have the potential to revolutionize the aviation industry," said Joseph Feo, CEO of XTI Aircraft Company. "We are interested in exploring how their engine technology could complement the TriFan 600, which is designed to provide the VTOL capability of a helicopter with the high cruising speeds and long range of a turbofan aircraft. We believe that combining our expertise could lead to the development of even more efficient and sustainable aircraft."

VerdeGo Aero has received support from government programs such as the Small Business Innovation Research (SBIR) program and the Advanced Technology Demonstrations Center (ATDC) program. The company is also a member of the National Institute of Aerospace (NIA) and the Embry-Riddle Aeronautical University Research Park.

VerdeGo Aero is committed to developing sustainable and efficient aviation technologies that will benefit society for generations to come. The company is a startup with a small but dedicated team of engineers and scientists who are passionate about pushing the boundaries of aviation innovation.