Xeriant Announces Strategic Alliance With Dynamic European Aircraft Manufacturer

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.