ParaZero Receives Israel Ministry of Defense Approval for of its HALO Precision Airdrop System for Drones
January 17 2025 - 7:55AM
ParaZero Technologies Ltd. (Nasdaq: PRZO) (the “company” or
“ParaZero”), an aerospace company focused on safety systems for
commercial unmanned aircrafts and defense Counter UAS systems,
announced today that it has received official approval from the
Israeli Defense Export Controls Agency (DECA) under the Ministry of
Defense (MOD) for the marketing of its HALO Precision Airdrop
System.
The HALO Precision Airdrop System (High-Altitude Low-Opening) is
designed to revolutionize drone-based logistical support by
enabling precise and secure delivery of supplies in challenging
environments. Leveraging ParaZero’s renowned parachute technology,
HALO offers a cutting-edge solution to support military forces and
emergency responders operating in high-risk zones.
The HALO system was originally developed in collaboration with
leading defense industry partners under military research
initiatives. Its adaptability to various drone platforms, including
widely available commercial models, makes it a versatile solution
for military and humanitarian applications.
Following this successful test, ParaZero will advance the HALO
system to the next phase of development, focusing on refining the
technology for operational deployment in military and humanitarian
scenarios. The Company remains committed to providing innovative
drone solutions that enhance safety and operational efficiency.
About ParaZero Technologies
ParaZero (Nasdaq: PRZO) is an aerospace company focused on drone
safety systems for defense and commercial drones and urban air
mobility 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 over populated areas and
beyond-visual-line-of-sight (BVLOS) as well as for various military
applications including Counter UAS. For more information about
ParaZero, please visit https://parazero.com/
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, ParaZero is using
forward-looking statements when it discusses marketing and
advancing the development of its HALO system, and that the Company
remains committed to providing innovative drone solutions that
enhance safety and operational efficiency. 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 Annual Report on Form 20-F filed
with the SEC on March 21, 2024. 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 content of third-party
websites.
Investor Relations Contact:
Michal EfratyInvestor Relationsmichal@efraty.com
ParaZero Technologies Ltd. | 30 Dov Hoz, Kiryat
Ono, Israel 5555626P: +972-36885252 |
E: contact@parazero.com | F: +972-3-688-5246
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