BOCA RATON, FL / ACCESSWIRE / September 22, 2020 / Xeriant, Inc. (OTC PINK:XERI), a new aerospace technology holding company, announced today its vision and plans for accelerating innovation in the rapidly evolving aerospace industry. Xeriant (the "Company") is focusing its efforts on identifying and acquiring breakthrough technologies with strong commercial potential, investing in both revenue-producing and early-stage companies. The Company is in the process of building a diversified portfolio of strategic business interests and leveraging the collective expertise of its growing international network of industry partnerships to deliver economically viable products that address specific markets and applications. Xeriant will explore prospective synergies between complementary and related technologies under its umbrella and promote constructive interaction and collaboration. At this time, the Company is in negotiations with several parties.
Xeriant is taking an active position in the "third wave of aeronautics," the industry's transition to quiet, sustainable propulsion systems and autonomous operation, and the development and integration of revolutionary new aircraft with vertical flight capability (VTOL) facilitating point-to-point transport of passengers and cargo, and numerous other applications in industries across the economy. Recently termed advanced air mobility (AAM), this emerging aviation segment encompasses a wide range of small, lightweight configurations, from unmanned drones to multi-passenger piloted aircraft, called air taxis.
The concept of AAM centers around the idea that this newly enabled contingent of highly capable aircraft can be deployed and integrated in underutilized airspace to accomplish a multitude of functions, such as short-haul commuting and last mile package delivery, making aviation an affordable personal convenience and a facet of everyday life. These transformative aircraft in AAM are also creating opportunities for air travel to become more accessible by connecting rural and urban communities and expanding its availability into new and underserved markets. Advancements in distributed electric propulsion, design optimization, materials, artificial intelligence, wireless communications, sensors, control systems and the miniaturization of electronics have been critical in the development and operation of these aircraft.
There are several compelling statistics and forecasts in support of the development and future growth of electrically powered aircraft:
- Investment bank Morgan Stanley forecasts a $1.5 trillion total addressable market for electrically powered autonomous passenger and cargo air transport vehicles by 2040.
- Nearly half of all flights globally are short-haul routes, less than 500 miles, which presents a significant opportunity for electrically powered aircraft.
- Almost 3,000 general aviation airports in the U.S. have no scheduled passenger flights but are being maintained by the federal government through funds appropriated by Congress. These airports can be utilized for flights by electrically powered to connect underserved areas, ultimately creating a more distributed air transportation network.
- Between now and 2040, there will be an estimated global demand for almost 40,000 new passenger and cargo aircraft, 75 percent of which are smaller airliners targeting short-haul routes, according to Airbus.
- Optimization of airframe configurations to improve aerodynamics, including propulsion- airframe integration, can contribute as much as 20-25 percent in fuel consumption reduction.
- In December 2019, the FAA (Federal Aviation Administration) issued new proposed rules for remote identification of unmanned aircraft, indicating its serious intent to integrate these aircraft systems into the national airspace.
- Agility Prime was recently created by the U.S. Air Force to help accelerate the regulatory process for the integration of commercial advanced air mobility vehicles, like flying cars, into our air transportation system.
- In June 2020, the FAA in collaboration with NASA (National Aeronautics and Space Administration) and industry organizations published the Concept of Operations for Urban Air Mobility to describe the envisioned operational environment that supports the expected growth of flight operations in urban areas.
- The United Nations projects that by 2050, 68 percent of the world's population will live in urban areas, up from 55 percent today, resulting in increased traffic congestion, stress and air pollution.
- Airlines for America (A4A), the industry trade organization representing the leading U.S. airlines, has committed to the recommendations of the International Civil Aviation Organization (ICAO), the United Nations body that sets standards and recommended practices for international aviation, including carbon-neutral growth from 2020 with an aspirational goal of a 50 percent reduction in CO2 by 2050 relative to 2005 levels.
- The Advisory Council for Aeronautics Research in Europe has set goals of a 75 percent reduction in CO2 emissions per passenger and a 65 percent reduction in perceived noise emissions by 2050.
"All of these game-changing trends and industry initiatives validate our plans and highlight the significant areas of opportunity for Xeriant," stated Keith Duffy, Xeriant's CEO. "We are entering an exciting transitional period in aerospace. Safe and sustainable vertical flight is fast becoming a reality, supporting new consumer demands in personal mobility and e-commerce, which are even more relevant in today's environment." He further added, "When I was presenting our Halo VTOL aircraft concept last November at the Space Florida - Florida Venture Forum, I came to recognize how many disruptive aerospace technologies and tremendously talented entrepreneurs could benefit from partnering with Xeriant to help them reach their full potential. This was our motivation in developing the Xeriant business model."
Xeriant recently launched its website, www.xeriant.com, which introduces the phrase "Innovation Soaring™," on its home page, stating "From drone package delivery to exploration of the far reaches of the universe, aerospace innovation will continue soaring to new heights on its inspirational journey into the future. At Xeriant, we are playing an important role in that journey, along with our growing network of partners and investors."
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is a holding and operating company focused on acquiring, developing, and commercializing revolutionary, eco-friendly technologies with applications in aerospace, including innovative aircraft concepts targeting emerging opportunities within the aviation industry. In 2019, Xeriant acquired a unique, scalable, multi-purpose VTOL aerial platform called Halo, which is protected under a broad utility patent. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport. The Company is an OTC Markets public company trading under the stock symbol, XERI.
SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
XERIANT, INC. CORPORATE
Keith Duffy, CEO
Innovation Centre #1
3998 FAU Blvd., Suite 309
Boca Raton, FL 33431
SOURCE: Xeriant, Inc.