Private aircraft builder Cobalt has spent 10 years waiting for this moment, and it is finally here with the release of its first model, the Cobalt Co50 Valkyrie.

The Co50 Valkyrie is a single-piston-engine craft with seating for five and a unique canard wing and rear-facing propulsion system that helps increase safety and create more lift for its pilots.

Cobalt claims the Co50 Valkyrie can reach speeds up to 300 mph, making it the fastest plane in its class, while a specially designed anti-stall engine system adds to the safety of the aircraft.

The Co50 Valkyrie has four passenger seats and storage for luggage and specialized travel items such as golf clubs or skis. Cobalt also says it will offer customizeable options for both the interior and exterior of the craft.

Colbalt’s new plane begins at $695,000 and could be in customer’s hands as soon as 2017 with a $15,000 deposit.