ENGLEWOOD, Colo., Feb. 18,
2025 /PRNewswire/ -- XTI Aerospace, Inc.
(NASDAQ: XTIA) ("XTI"), a pioneer in advanced aircraft design,
today announced the appointment of Len
Urbas as Senior Vice President of Corporate Development.
Mr. Urbas brings to XTI Aerospace extensive expertise in
investment banking, private equity, and strategic growth. With a
successful track record across industries including healthcare,
technology, financial services, and aerospace, Mr. Urbas will play
a key role in advancing XTI's mission to redefine air travel and
expand its presence in the burgeoning vertical takeoff and landing
(VTOL) market.
Prior to joining XTI Aerospace, Mr. Urbas served as Managing
Director at Waymaker Capital and Senior Advisor at SDR Ventures.
Throughout his career, he has led investment banking engagements,
formed private equity funds, and driven strategic initiatives to
support revenue and market share growth.
"Len is an outstanding addition to the XTI leadership team,"
said Scott Pomeroy, Chairman and CEO
of XTI Aerospace. "His experience in corporate development,
strategic investments, and market expansion will be vital as we
continue to innovate and grow within the VTOL sector. We have been
cultivating a formidable capital raising strategy and team, and Len
is the final piece of the puzzle. We are confident that his
leadership will further position XTI as a leader in aerospace
innovation."
Commenting on his appointment, Mr. Urbas stated, "I am excited
to join XTI Aerospace at such an important time in the company's
development. The VTOL industry is evolving rapidly, and XTI's
vision and cutting-edge technology present a tremendous opportunity
to shape the future of aviation. I look forward to leveraging my
experience to help XTI achieve its ambitious goals and expand its
market presence."
About XTI Aerospace, Inc.
XTI Aerospace (XTIAerospace.com) (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, speeds of 345 mph and a range of 700 miles,
creating an entirely new category – the vertical lift crossover
airplane (VLCA). 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
Aerospace, please visit XTIAerospace.com and
HangerXStudios.com (aviation innovation podcast), and follow the
company on LinkedIn, Instagram, X, and YouTube.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act,
and Section 21E of the Exchange Act. All statements other than
statements of historical fact contained in this press release,
including without limitation, statements about the products under
development by XTI, the advantages of XTI's technology, and XTI's
customers, plans and strategies are forward-looking statements.
Some of these forward-looking statements can be identified by
the use of forward-looking words, including "believe," "continue,"
"could," "would," "will," "estimate," "expect," "intend," "plan,"
"target," "projects," or the negatives of these terms or variations
of them or similar expressions. All forward-looking statements are
subject to risks, uncertainties, and other factors which could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements. All forward-looking
statements are based upon estimates, forecasts, and assumptions
that, while considered reasonable by XTI Aerospace and its
management, are inherently uncertain, and many factors may cause
the actual results to differ materially from current expectations.
XTI undertakes no obligation to revise any forward-looking
statements in order to reflect events or circumstances that might
subsequently arise. Readers are urged to carefully review and
consider the risk factors discussed from time to time in XTI's
filings with the SEC, including those factors discussed under the
caption "Risk Factors" in its most recent annual report on Form
10-K, filed with the SEC on April 16,
2024, and in subsequent reports filed with or furnished to
the SEC.
Contacts
General inquiries:
Email: contact@xtiaerospace.com
Web: https://xtiaerospace.com/contact/
Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: XTIA@crescendo-ir.com
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SOURCE XTI Aerospace, Inc.
