Medigus: ParaZero Ramps Up Partnership with US-Based Autonomous Drone OEM Vayu Aerospace Corporation
February 22 2024 - 7:38AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
electric vehicle charging solutions, advanced medical solutions,
and innovative internet technologies, today announced that on
February 20, 2024 ParaZero Technologies Ltd. (Nasdaq: PRZO)
(“ParaZero”), an aerospace company focused on drone safety systems
for commercial drones and urban air mobility aircraft, (18.68%
owned by Medigus), announced that it has expanded its collaboration
with Vayu Aerospace Corporation ("Vayu"), a US-based drone original
equipment manufacturer (OEM) and subsidiary of Alpine 4 Holdings
(“Alpine 4”) (Nasdaq: ALPP).
The two companies worked together over the past two years
enhancing safety solutions for Vayu’s commercial and military
vertical take-off and landing (VTOL) aircraft. According to
Research and Markets the global market for VTOL unmanned aerial
vehicles is projected to reach a size of $27.5 Billion by 2030,
growing at a CAGR of 19.9% between 2022 and 2030. With this
new collaboration, ParaZero will customize its SafeAir system to be
integrated at the design stage of Vayu’s G-1MKII VTOL
aircraft. The two companies also have performance-based
regulatory compliance testing and validation planned for the near
future to unlock a range of use cases for Vayu’s global
customers.
Boaz Shetzer, Chief Executive Officer of ParaZero commented, “We
are glad to strengthen our partnership with Vayu, an innovator in
autonomous drone technology. We have many successes from around the
world in aiding our customers to achieve regulatory approvals for
advanced operations using our SafeAir parachute systems. As
we move forward integrating our SafeAir system from the design
stage of Vayu’s cutting-edge VTOLs, we are setting new standards in
drone safety and functionality.”
Kent Wilson, Chief Executive Officer of Alpine 4 and Vayu
commented, “We at Alpine 4 and Vayu Aerospace are thrilled to
partner with ParaZero, a leader in aviation safety solutions.
Incorporating their parachute system into our G-1 and US-1
platforms signifies a monumental step forward in ensuring the
utmost safety of our operations. This feature is not just an
enhancement; it is a fundamental component that underlines our
commitment to safe, reliable, and efficient aerial solutions.
Further, it is a pivotal integration for our sister company, Global
Autonomous Corporation, to achieve Beyond Visual Line of Sight
(BVLOS) flight permissions from the Dubai Civil Aviation Authority
(DCAA) and within Dubai, UAE.”
Nathan Grier, Director of Flight Operations of Vayu, commented,
“Our mission is to push the boundaries of aerial innovation and
safety, ensuring that our operations not only meet, but exceed the
stringent standards set forth by regulatory bodies worldwide.
Our partnership with ParaZero is a testament to this commitment.
Their unparalleled experience with EASA certifications positions us
uniquely for the successful completion of Global Autonomous
Corporation's Validation Test Campaign in Dubai and paves the way
for our future EASA certifications in Europe. Integrating
ParaZero's SafeAir systems into our fleet signifies a leap forward
in operational safety and regulatory compliance, enabling us to
undertake complex operations with confidence.”
ParaZero’s SafeAir is an uncrewed aircraft system (UAS)
parachute recovery system that mitigates flight risks autonomously.
The SafeAir system is equipped with integrated sensors that
continuously monitor and analyze the drone’s flight patterns to
identify any indications of a critical failure. When triggered, the
SmartAir Pro™, ParaZero’s onboard computer, responds with an
instantaneous activation of the SafeAir system. The system cuts
power to the drone, alerts people on the ground with an audible
alarm, and deploys a lightweight parachute, bringing the drone down
to the ground in a safe, controlled descent.
About ParaZero Technologies
ParaZero Technologies Ltd. (https://parazero.com/) is a
world-leading developer of autonomous parachute safety systems for
commercial drone and urban air mobility (UAM) aircraft. Started in
2014 by a passionate group of aviation professionals and drone
industry veterans, ParaZero designs smart, autonomous parachute
safety systems designed to enable safe flight operations
overpopulated areas and beyond-visual-line-of-sight (BVLOS).
About Vayu Aerospace
Vayu Aerospace Corporation is a wholly owned subsidiary of
Alpine 4 Holdings, Inc, a Nasdaq traded company trading under the
ticker symbol ALPP. Vayu Aerospace resides under Alpine 4’s
Aerospace portfolio of businesses.
https://alpine4.com/ https://vayuaerospace.com/
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is
a technologies company that is focused on innovative growth
partnerships, mainly in advanced medical solutions, digital
commerce, and electric vehicle markets. Medigus’ affiliations in
the medical solutions arena consist of ownership in Polyrizon Ltd.
Medigus’ 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., by way of
Fuel Doctor Holding, Inc., are also part of the Medigus’ portfolio
of technology solution providers. Medigus is traded on the Nasdaq
Capital Market. 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. For example, Medigus uses forward looking statements when
describing ParaZero’s growth prospects.
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:
Michal EfratyInvestor Relations,
Israel+972-(0)52-3044404michal@efraty.com
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