White Paper | March 2026
Capital-Light eVTOL + Autonomous Vehicle Infrastructure Platform
A corrected investor-facing white paper for transforming the historic Texas & Pacific Warehouse in Fort Worth into a multi-modal transportation infrastructure platform. This version removes legacy target-return language and aligns with the calculated return model.
Trinity Air Link proposes the adaptive reuse of the Texas & Pacific Warehouse in downtown Fort Worth into a multi-modal mobility hub combining eVTOL access infrastructure, autonomous vehicle access infrastructure, passenger processing, charging/energy services, dispatch software, data services, and an innovation center.
The preferred structure is capital-light and operator-neutral. Certified eVTOL and qualified autonomous vehicle operators carry vehicle acquisition, maintenance, pilots or autonomy operations, insurance, and fleet financing. Trinity Air Link controls and monetizes the infrastructure layer.
| Layer | Trinity Air Link Role | Operator Role |
|---|---|---|
| Air Mobility | Vertiport access, pad scheduling, passenger processing, charging, data, dispatch | Aircraft, pilots, maintenance, insurance, certification, operations |
| Ground Mobility | AV bays, curb management, charging, routing API, facility access, data services | Vehicles, autonomy stack, maintenance, insurance, fleet financing |
| Innovation Center | Leasable R&D space, public showcase, partner ecosystem | Tenant operations, technology deployment, R&D collaboration |
This framing keeps the business closer to transportation infrastructure and platform economics than to an airline, taxi fleet, or aircraft leasing company.
| Revenue Stream | Conservative | Moderate | Optimistic |
|---|---|---|---|
| Air Mobility Platform Revenue | $21.9M | $54.8M | $131.4M |
| Ground Mobility Platform Revenue | $16.4M | $54.8M | $137.3M |
| Innovation Center / Real Estate | $2.4M | $3.8M | $5.1M |
| Technology Licensing & IP | $4.0M | $10.0M | $16.0M |
| Ancillary | $6.0M | $10.0M | $16.0M |
| Total Revenue | $50.7M | $133.4M | $305.8M |
| Scenario | Revenue | OpEx | EBITDA | Margin |
|---|---|---|---|---|
| Conservative | $50.7M | $59.0M | ($8.3M) | -16% |
| Moderate / Base | $133.4M | $88.5M | $44.9M | 34% |
| Optimistic | $305.8M | $138.0M | $167.8M | 55% |
| Scenario | IRR Before Terminal | NPV @ 10% Before Terminal | Terminal Value | IRR With Terminal | NPV With Terminal |
|---|---|---|---|---|---|
| Capital-Light Conservative | 5.0% | ($23.9M) | $210M | 18.3% | $65.2M |
| Capital-Light Moderate / Base | 24.8% | $89.7M | $480M | 36.8% | $293.2M |
| Capital-Light Optimistic | 55.7% | $440.3M | $1.0B | 62.8% | $864.4M |
| Owned-Fleet Low-Demand Stress | (17.2%) | ($139.6M) | $175M | 2.3% | ($65.4M) |
| Year | Phase | Net Project Cash Flow | Notes |
|---|---|---|---|
| 2026 | Phase 1 | ($25M) | Planning, regulatory, team, early burn |
| 2027 | Phase 2 | ($55M) | Infrastructure development |
| 2028 | Phase 3 | ($17M) | Capital-light systems, charging, dispatch, access infrastructure |
| 2029 | Phase 4 | ($2M) | Launch year ramp |
| 2030 | Year 5 | $40M | Positive annual cash-flow target |
| 2031 | Stabilization | $50M | Operator agreements mature |
| 2032 | Stabilization | $55M | Route expansion |
| 2033 | Stabilization | $60M | Platform revenue growth |
| 2034 | Stabilization | $65M | Mature multi-operator network |
| 2035 | Stabilization / Exit | $70M | Final projected annual cash flow before terminal value |
| Case | Total Capital | Role in Model |
|---|---|---|
| Capital-Light Operator Access | $107M–$113M | Preferred base case; operators carry vehicle capex |
| Hybrid | $115M–$121M | Limited seed/demo fleet exposure |
| Owned-Fleet | $129M | Upside/control case; higher fleet exposure |
The capital-light model reduces direct fleet ownership risk, depreciation risk, maintenance burden, certification exposure, and balance-sheet drag. The main risks become adoption rate, operator agreement quality, construction cost control, regulatory timing, and energy/service-level management.
Trinity Air Link is strongest when presented as infrastructure: a scarce, multi-operator mobility node in a fast-growing metro market. The corrected model leads with a defensible 24.8% calculated IRR before terminal value and $89.7M NPV @ 10%, then presents terminal value separately as upside.
partnerships@trinityairlink.com
Forward-looking statements are scenario-based planning estimates subject to certification timelines, adoption rates, financing terms, and partner agreements.