XTI Aerospace (XTIA) said Wednesday that the US Federal Aviation Administration accepted its Type Certification application for the TriFan 600 on Monday.
The TriFan 600 is a fixed-wing business aircraft designed for vertical takeoff and landing, combining aspects of a helicopter and a jet, according to the company.
XTI has been working with the FAA's Innovation Office to develop the AC 21-17b "powered-lift" requirements. With this formal TC submission, the certification process moves forward as the FAA reviews XTI's G-1 Stage 1 "Basis for Certification" document and engages experts to work toward the Stage 2 response, the company said.
Shares of XTI Aerospace were down over 7% in recent trading.
Price: 2.37, Change: -0.18, Percent Change: -7.06
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