Australian Regulator Approves First Commercial Drone Flights in Populated Areas and Near People Using ParaZero Safety Systems
October 06 2023 - 7:33AM
ParaZero Technologies Ltd. (Nasdaq: PRZO) (“ParaZero”), an
aerospace company focused on drone safety systems for commercial
drones and urban air mobility aircraft, and OVRL, an Australian
commercial drone operator and training organization, announced
today a first-ever Australian authorization for drones to operate
over populated areas and near people, when using ParaZero safety
systems, approved by the Civil Aviation Safety Agency (CASA).
With the use of ParaZero's advanced parachute safety technology,
ParaZero regional partner, OVRL, has landed a precedent-setting
historic approval for complex operations. OVRL’s tailored
safety case and Specific Operations Risk Assessment (SORA)
application helped facilitate the landmark approval, now paving the
way for all organizations throughout Australia to benefit from
similar operational approvals.
“We are extremely proud to be the first commercial drone
operator and training provider to bring this exciting new
capability to the Australian market. This achievement once again
demonstrates our commitment to safety while being at the forefront
of commercial operations in Australia. We look forward to helping
the industry utilize ParaZero systems and are excited to see the
new, previously untested use cases for commercial drones now that
they can be legally flown overhead people,” commented Tim Butler,
CEO of OVRL.
“We are honored that ParaZero's technology has been approved to
enable a new global territory to conduct advanced drone operations
with our SafeAir product line,” commented Aaron Gliner, ParaZero
Director of Business Development and Regulation. “We extend our
gratitude to the Civil Aviation Safety Agency and our regional
partners, OVRL, for their collaborative efforts over the course of
several years of rigorous safety case work and analysis, which will
now benefit all commercial drone operators seeking to apply for
similar authorizations throughout Australia.”
The precedent-setting CASA authorization follows the major
announcement regarding the U.S. Federal Aviation Administration
(FAA) granting the Airobotics Optimus-1EX system an airworthiness
Type Certification, a historic milestone that will streamline
continuous operational approvals for broad flight operations,
including fully autonomous missions, operations over people, and
beyond visual line of sight (BVLOS) operations.
About ParaZero Technologies
ParaZero ( 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 OVRL
OVRL (https://ovrl.com.au/) is an industry-leading commercial
drone services, aviation consulting, and training services
provider. Established in 2014, OVRL has brought together leading
industry professionals to provide drone industry leading
cinematography, professional services and training within a single
organization. With our wealth of diverse expertise in the world of
drone technology and our passionate belief that drones can change
the world for the better, OVRL has established itself as a
trailblazer in the industry.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act and
other 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. For example, the Company is using
forward-looking statements when it discusses paving the way for
organizations throughout Australia to benefit from similar
operational approvals and benefitting commercial drone operators
seeking to apply for similar authorizations throughout Australia.
Forward-looking statements are not historical facts, and are based
upon management’s current expectations, beliefs and projections,
many of which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. For a more detailed description of the
risks and uncertainties affecting the Company, reference is made to
the Company’s reports filed from time to time with the Securities
and Exchange Commission (“SEC”), including, but not limited to, the
risks detailed in the Company’s final prospectus (Registration No.
333-265178) dated July 26, 2023. Forward-looking statements speak
only as of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. 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. ParaZero is not responsible for the contents of
third-party websites.
Investor Relations Contact:
Michal Efraty Investor Relations, Israel +972-(0)52-3044404
michal@efraty.com
ParaZero Technologies Ltd. | 30 Dov Hoz, Kiryat
Ono, Israel 5555626 P: +972-36885252 | E: contact@parazero.com | F:
+972-3-688-5246
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