Medigus’ ParaZero Signs an Agreement to Develop Custom Safety Solution for a Leading Global Automotive Manufacturer’s Drone Program
April 25 2022 - 8:30AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies, and
electric vehicle and charging solutions, announced today that
ParaZero Ltd. (“
ParaZero”), a privately held
company engaged in drone technology with an innovative patented
safety system for drones, of which Medigus has a 40 percent
ownership stake, has signed an agreement with a leading global
automotive manufacturer for the development of a bespoke safety
solution for its proprietary drone program.
The automotive manufacturer plans to integrate
ParaZero’s SafeAir™ drone safety system into their proprietary
aircraft from the design stage, allowing for an optimized and
seamless integration. ParaZero has a proven history of supplying
advanced safety solutions for global manufacturers and companies
across a myriad of aerial platforms, including multirotor, single
rotor, fixed wing, vertical takeoff and landing (VTOL), manned and
unmanned, and urban air mobility vehicles.
ParaZero’s patented drone safety system is
designed to protect people and payloads, providing a solution to
reduce the risk of a drone’s malfunction in an urban environment.
Unique in the industry, the system includes a smart parachute
system that monitors drone flight in real time, identifies critical
failures, and autonomously triggers a parachute in the event of an
emergency.
ParaZero’s safety technology contains a
portfolio of ASTM F3322-18 compliant parachute recovery systems for
leading enterprise drone platforms, including the DJI Mavic 2,
Phantom 4, Matrice 200, Matrice 300, and the AIROBOTICS Optimus
drone, among a number of others in development. Achieving
certification for the ASTM F3322-18 standard requires 45 successful
aerial parachute deployments, across a number of failure scenarios,
in the presence of an approved third-party testing agency. These
tests and corresponding data generated provide global regulators
the confidence required in assessing the performance benchmarks of
a drone parachute system for issuing advanced operational
approvals: effectiveness and reliability in all failure scenarios,
rated descent rate, and minimum flight altitude.
ParaZero’s portfolio of ASTM F3322-18 compliant parachute
recovery systems and OEM-integrated safety solutions have enabled a
large number of organizations and operators around the world to
receive approvals for advanced drone operations, including
operations over people, BVLOS, and drone delivery.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is
a technology company focused on innovative growth partnerships,
mainly in advanced medical solutions, digital commerce and electric
vehicle markets. Medigus' affiliations in the medical solutions
arena include ownership in Polyrizon Ltd. and ownership in industry
4.0 company, ScoutCam Inc. The Company’s affiliates in digital
commerce include Gix Internet Ltd., Jeffs' Brands Ltd. and Eventer
Technologies Ltd. In the electric vehicle market, Charging Robotics
Ltd. and Revoltz Ltd. are also part of the Company’s portfolio of
technology solution providers. To learn more about Medigus’
advanced technologies, please
visit http://www.medigus.com/.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995
and other Federal securities laws. Words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates”
and similar expressions or variations of such words are intended to
identify forward-looking statements. Because such statements deal
with future events and are based on Medigus’ current expectations,
they are subject to various risks and uncertainties, and actual
results, performance or achievements of Medigus could differ
materially from those described in or implied by the statements in
this press release.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed in any filings with the
SEC. Except as otherwise required by law, Medigus undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Medigus is not
responsible for the contents of third-party websites.
Company Contact: Tali DinarChief Financial
Officer+972-8-6466-880ir@medigus.com
Investor Relations Contact:Dave GentryRedChip
Companies Inc.1-800-RED-CHIP (733-2447)Or
407-491-4498MDGS@redchip.com
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