Xeriant Inc (OTCMKTS: XERI) is making a steady run northbound since reversing off $0.024 lows in December rocketing northbound in recent days notching up another 10% on Friday on 1.8 million shares traded on around $80,000 in dollar volume on the day. XERI does have a history of big moves rocketing up to highs near $0.60 from current levels back in early 2021.
Starting in 2021 XERI entered into a joint venture with XTI Aircraft Company, a privately owned OEM based in Englewood, Colorado for the purpose of completing the preliminary design of XTI’s TriFan 600, a 5-passenger plus pilot, hybrid electric vertical takeoff and landing (eVTOL) fixed-wing aircraft. For more information on XERI check the reddit thread here. We will be updating on XERI when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Xeriant Inc (OTCMKTS: XERI) a holding Company is dedicated to the discovery and development of advanced materials and technology related to next generation air and spacecraft, which can be successfully integrated and commercialized for deployment across multiple industrial sectors. XERI seek to partner with and acquire strategic interests in visionary companies that accelerate this mission. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport.
In April 2022 XERI entered into a Joint Venture Agreement with Movychem s.r.o, a Slovakian chemical company, to develop applications and commercialize a series of products which incorporate an internationally patented flame-retardant technology developed by Movychem under the trade name Retacell®. The Joint Venture, owned 50% by Xeriant and 50% by Movychem, has acquired the exclusive worldwide rights to the intellectual property related to Retacell® and will be responsible for developing applications and commercializing products derived from Retacell®.
Engineered over two decades, Retacell® is a versatile, biodegradable, non-toxic, high-performance thermal and fire protection chemical agent that is custom formulated for each application, based on the specific properties of the base material and the fire protection requirements. Retacell® can be applied as a coating, treatment, or infused during manufacturing into a variety of materials, including recycled plastics and wood-based fiber. In addition to becoming heat and fire resistant, the resulting Retacell®-enhanced materials are also water resistant.
In June of 2022 XERO successfully developed a multi-purpose, high-strength fire- and water-resistant composite panel made from a formulation of Retacell® and a cardboard fiber-reinforced polymeric resin, which can be sourced from recycled materials. The panel is fabricated through a compression molding process and may be produced or cut in varying thicknesses and sizes, including standard 48” x 96” sheets. Depending on the application, the panel can have different colors, textures or decorative finishes. Potential interior and exterior construction applications include walls, ceilings, flooring, framing, siding, roofing, and decking. XERI trademarked NEXBOARD™ as the commercial name for its green Retacell®-based wall panels, which can be used to replace wallboard products made from gypsum and wood, such as drywall, plywood, OSB (oriented strand board) and MDF (medium-density fiberboard) for new and retrofit construction.
XERI signed an LOI with Next New Concept for the purchase of up to $130 million of Xeriant’s Retacell®-based wall panels, for a 35,000-unit residential development project in Africa, anticipated to be completed within five years. NNC has now expressed interest in acquiring additional building products through Xeriant, including doors coated with Retacell®-infused paint. The project between NNC and Xeriant could now generate more than $250 million in revenue for Xeriant beginning in 2023. NNC is an innovator in environmentally friendly, quickly constructed building systems for affordable quality housing. The Company is also investigating the requirements for the buildout of manufacturing facilities in the United States and Eastern Europe to meet the demand for the Retacell®-infused wallboards. XERI has identified potential sites, located and priced specialized manufacturing equipment, started to formulate timetables, and hired a managing director with decades of experience to oversee the advanced materials division.
$XERI 8-K Xeriant (30 Dec, 12:16pm)
📰 Entry into a Material Definitive Agreement; Unregistered Sales of Equity Securitieshttps://t.co/lArDkE8cOX#XERI #8K #Xeriant #News
— CapEdge Feed (@investor_feed) December 30, 2022
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Starting in 2021 XERI entered into a joint venture with XTI Aircraft Company, a privately owned OEM based in Englewood, Colorado for the purpose of completing the preliminary design of XTI’s TriFan 600, a 5-passenger plus pilot, hybrid electric vertical takeoff and landing (eVTOL) fixed-wing aircraft. Through the joint venture agreement with XTI, XERI was involved in the successful completion of the preliminary design of their TriFan 600 eVTOL aircraft. The TriFan 600 is being designed to become the fastest, longest-range VTOL aircraft in the world and the first commercial fixed-wing VTOL airplane, with current pre-orders exceeding $3 billion in gross revenues upon delivery of those aircraft. The joint venture is an important component in Xeriant’s plan to bolster its position in AAM.
Additionally, XERI is leveraging its relationship with Florida Atlantic University to provide a collaborative research arm for technologies that require additional validation and the backing of a respected research institution for credibility. The university also may provide access to various grants through the SBIR (Small Business Innovation Research), STTR (Small Business Technology Transfer), NSF (National Science Foundation) and other programs, and if warranted, introductions into a number of government agencies, such as DOD (Department of Defense) and DARPA (Defense Advanced Research Projects Agency). XERI is pursuing strategic alliances with companies that provide complementary technologies and access to new markets.
With its elegant design and unique versatility, the TriFan 600 continues to lead in the evolving long-range regional Advanced Air Mobility (AAM) space. The Company’s team completed Preliminary Design Review (PDR) of the aircraft earlier this year, made several improvements and performance enhancements to the aircraft through the year (see Engineering Update) and we are on track for completing Detailed Design Review (DDR) and applying for our Type Certification with the FAA in 2023. Further milestones on our journey include Critical Design Review (CDR) planned for late 2024, first flight of our full-scale test airplane in late 2025, and entry into service in 2027.
Xeriant, Inc. pic.twitter.com/ziVN8P4Peu
— Randylus (@randylus) January 7, 2023
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Currently trading at a $16.5 million market valuation XERI os is 376,933,144 shares outstanding with around 169,720,551 shares in the public float. The stock rocketed up to highs near $0.60 in early 2021 but has been in a downward trend since hitting lows of $0.024 in December. Since than XERI has come back to life doubling over the past 10 days as Retacell® gains traction and XERI continues to develop the TriFan 600 completing Preliminary Design Review (PDR) of the aircraft in 2022 as well as making several improvements and performance enhancements to the aircraft through the year. XERI is on track for completing Detailed Design Review (DDR) and applying for its Type Certification with the FAA in 2023. We will be updating on XERI when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Disclosure: we hold no position in XERI either long or short and we have not been compensated for this article.