XTI Aerospace Taps Steve Griessel To Boost Defense Growth And XVTOL Expansion

(RTTNews) - XTI Aerospace, Inc. (XTIA), on Wednesday, announced the appointment of Stephen Griessel, former Group CEO of Paramount Group Ltd., to its Corporate Advisory Board.

The move comes as part of XTI's strategy to expand its presence in the defense sector and capitalize on the growing demand for VTOL or Vertical Takeoff and Landing aircraft solutions.

Griessel, a seasoned aerospace and defense executive with over four decades of leadership experience, currently serves as CEO of Copperstone Capital Partners, an investment firm overseeing assets in sectors such as software and defense.

During his tenure at Paramount Group, Griessel led the company's transformation into a globally licensed OEM, operating in over 25 countries and delivering sovereign defense capabilities.

His appointment aligns with XTI's mission to lead in the emerging "Vertical Economy," where aviation demands faster, longer-range aircraft with vertical lift capabilities.

The company's flagship aircraft, the TriFan 600, is designed to offer the vertical takeoff capabilities of a helicopter combined with the speed and range of a fixed-wing aircraft.

"Steve brings deep aerospace and defense experience as well as a global mindset," said Scott Pomeroy, CEO and Chairman of XTI. "His addition comes at a pivotal time as we expand into mission-critical markets."

Griessel stated, "XTI's vision for the TriFan 600 is transformative. I'm honored to contribute to positioning the company as a leader in regional and defense air mobility."

XTI is currently developing a military variant of the TriFan 600 to meet growing defense interest, especially following President Trump's recent executive order identifying VTOL aircraft as a national strategic priority.

XTI Aerospace, based near Denver, Colorado, is also the parent company of Inpixon, a provider of real-time location systems or RTLS for industrial operations.

The company aims to serve both commercial and defense markets with advanced vertical flight technology and location intelligence solutions.

Currently, XTIA is trading at $3.43, up by 11.80 percent on the Nasdaq.