A Denver-area airplane company said it's formed an alliance with another Colorado company to try and develop a new airplane.

XTI Aircraft Company, based at Centennial Airport, said it will work with Bye Aerospace Inc., also based at the airport, to develop a new hybrid/electric prototype of XTI's TriFan vertical takeoff airplane.

"We're continuing with our plan but we've made two important changes. First, with the engineering expertise of the team at Bye Aerospace, this first prototype will be powered by a state-of-the-art hybrid-electric propulsion system. Second, because we're now able to significantly reduce the weight and cost of producing the TriFan, our first prototype will be a full-size TriFan 600 instead of the 65 percent subscale version," said Robert LaBelle, XTI CEO, in a statement.

Read more at the Denver Business Journal: http://bit.ly/2mbGX6q