Xeriant Announces Strategic Alliance With Dynamic European Aircraft Manufacturer

Boca Raton, Florida, UNITED STATES

BOCA RATON, Fla., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTC PINK: XERI), a new aerospace technology holding company, announced today that it has signed a strategic alliance agreement with PRAGA Avia s.r.o. (“PRAGA”), a dynamic aircraft design, development, production and maintenance company headquartered in Prague, Czech Republic. The purpose of the agreement is to establish a collaboration framework to potentially evaluate, test and integrate new aircraft technologies, design and develop innovative aircraft concepts, build prototypes, manufacture production aircraft, and open up new markets for PRAGA’s aircraft.

PRAGA’s goal is to become a leader within Central Europe in the design, production and maintenance of aircraft in the General Aviation category. The company holds an EASA (European Union Aviation Safety Agency) Approval as a Continuing Airworthiness Management Organization (CAMO) and an EASA Approval as a Maintenance Organization on a variety of aircraft, and is in the process of obtaining an EASA Design Organization Approval and an EASA Production Organization Approval. The EASA and the FAA (Federal Aviation Administration) have agreed to reciprocal acceptance of each other’s technical standards. PRAGA is currently preparing to manufacture several aircraft including its new Praga Alfa, a six-passenger single-engine turboprop aircraft.

“PRAGA’s knowledge and experience will greatly benefit the development of some of the aviation technologies and aircraft that we are currently involved with. Each project will be the subject of a separate agreement with PRAGA, depending on what is required, and I expect this arrangement to become one of the foundational elements of the company,” stated Xeriant CEO, Keith Duffy.

“There are many opportunities to explore with Xeriant given the numerous technologies being developed in the Czech Republic and across the globe. We look forward to a mutually beneficial relationship with Xeriant, becoming an integral part of their process in bringing new aviation technologies to the market,” commented PRAGA CEO Martin Kopáček.

For further information about PRAGA, please visit http://www.orbisavia.cz/en/.

The Czech Republic has a long history of aviation industry innovation and excellence, dating back well over a century to the dawn of powered flight. From research and development to final aircraft assembly, the Czech Republic continues to be a major player in the aviation sector, and since joining the European Space Agency (ESA) in 2008, has also become increasingly involved with space activities. The National Space Plan for 2020-2025 represents the Czech Republic’s strategy to further develop space related technologies in industry and academia and to play a more active and visible role within the international community in space and related areas. The European Union Agency for the Space Program (EUSPA) will be based in the Czech capital city of Prague effective January 2021. Many global aerospace companies have recognized the tremendous resources available in the Czech Republic, in terms of technology and human capital, including Honeywell, GE Aviation, Boeing and Safran.


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. 

For further information, please visit https://xeriant.webflow.io/.


PRAGA Avia, s.r.o., established in 1999, is a general aviation design, development, manufacturing and maintenance organization that is headquartered in Prague, Czech Republic. The company originally specialized in the installation of Walter Aircraft turboprop engines (now part of GE Aviation) and providing international support for the Let Kunovice L-410 twin-engine turboprop aircraft manufactured in the Czech Republic. PRAGA has a relationship with TECHNOAVIA, a Russian aircraft manufacturer located at the Smolensk Aviation Plant, for current production of the SM-92TE model Praga Alfa aircraft. The company’s objective is to produce the Alfa in the Czech Republic, where the company has three locations, including one at the Hradec Králové International Airport.


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.


Keith Duffy, CEO
Innovation Centre #1
3998 FAU Blvd., Suite 309
Boca Raton, FL 33431