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ParaZero Receives $187,000 Purchase Order for Advanced Drone Safety Systems Moving Towards Serial Production

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ParaZero Technologies (Nasdaq: PRZO) has received a $187,000 purchase order from a U.S.-based Advanced Air Mobility (AAM) company for advanced drone safety systems. This order follows the successful completion of a customization project and marks a significant milestone for ParaZero in the air mobility sector. The purchase order includes preparations for serial production and delivery of an initial batch of systems, indicating potential future large-scale manufacturing and deployment.

The order represents the final step in fulfilling project requirements for the client, who has been working closely with ParaZero to integrate innovative drone safety technologies. The customization project focused on integrating a safety solution into the customer's manned aircraft, designed for personal, private, military, and logistical applications. This aircraft combines vertical takeoff and landing (VTOL) capabilities with horizontal flight efficiency.

ParaZero Technologies (Nasdaq: PRZO) ha ricevuto un ordine d'acquisto di 187.000 dollari da un'azienda statunitense specializzata in Mobilità Aerea Avanzata (AAM) per sistemi di sicurezza avanzati per droni. Questo ordine segue il completamento con successo di un progetto di personalizzazione e segna una pietra miliare significativa per ParaZero nel settore della mobilità aerea. L'ordine comprende preparazioni per la produzione in serie e la consegna di un primo lotto di sistemi, indicando un potenziale futuro per la produzione e distribuzione su larga scala.

L'ordine rappresenta l'ultimo passo nel soddisfacimento dei requisiti del progetto per il cliente, che ha lavorato a stretto contatto con ParaZero per integrare tecnologie innovative di sicurezza per droni. Il progetto di personalizzazione si è concentrato sull'integrazione di una soluzione di sicurezza nell'aeromobile a pilotaggio umano del cliente, progettato per applicazioni personali, private, militari e logistiche. Questo aeromobile combina capacità di decollo e atterraggio verticale (VTOL) con efficienza di volo orizzontale.

ParaZero Technologies (Nasdaq: PRZO) ha recibido una orden de compra de $187,000 de una empresa estadounidense de Movilidad Aérea Avanzada (AAM) para sistemas de seguridad avanzados para drones. Este pedido sigue la finalización exitosa de un proyecto de personalización y marca un hito significativo para ParaZero en el sector de la movilidad aérea. La orden incluye preparativos para la producción en serie y la entrega de un lote inicial de sistemas, lo que indica un potencial futuro para la fabricación y despliegue a gran escala.

El pedido representa el último paso para satisfacer los requisitos del proyecto del cliente, que ha estado trabajando estrechamente con ParaZero para integrar tecnologías innovadoras de seguridad para drones. El proyecto de personalización se centró en integrar una solución de seguridad en la aeronave tripulada del cliente, diseñada para aplicaciones personales, privadas, militares y logísticas. Esta aeronave combina capacidades de despegue y aterrizaje vertical (VTOL) con eficiencia de vuelo horizontal.

ParaZero Technologies (Nasdaq: PRZO)는 미국에 본사를 둔 고급 항공 모빌리티(AAM) 회사로부터 187,000달러의 구매 주문을 받았습니다. 이는 고급 드론 안전 시스템을 위한 것입니다. 이번 주문은 맞춤형 프로젝트의 성공적인 완료에 이어져 ParaZero가 항공 모빌리티 분야에서 큰 이정표를 세운 것으로 평가됩니다. 구매 주문에는 일반 생산 준비와 초기 시스템 배치에 대한 배송이 포함되어 있으며, 이는 향후 대규모 제작 및 배포 가능성을 나타냅니다.

이 주문은 ParaZero와 긴밀히 협력하여 혁신적인 드론 안전 기술을 통합해 온 고객의 프로젝트 요구 사항을 충족하는 최종 단계입니다. 맞춤형 프로젝트는 고객의 유인 항공기에 안전 솔루션을 통합하는 데 중점을 두었으며, 개인적, 사적, 군사적 및 물류 용도로 설계되었습니다. 이 항공기는 수직 이착륙 및 수평 비행 효율성을 결합합니다.

ParaZero Technologies (Nasdaq: PRZO) a reçu un bon de commande de 187 000 dollars d'une entreprise américaine spécialisée dans la Mobilité Aérienne Avancée (AAM) pour des systèmes de sécurité de drones avancés. Cette commande fait suite à la réalisation réussie d'un projet de personnalisation et marque une étape importante pour ParaZero dans le secteur de la mobilité aérienne. Le bon de commande comprend des préparations pour la production en série et la livraison d'un premier lot de systèmes, ce qui indique un potentiel futur de fabrication et de déploiement à grande échelle.

La commande représente la dernière étape pour satisfaire les exigences du projet du client, qui a travaillé en étroite collaboration avec ParaZero pour intégrer des technologies de sécurité innovantes pour drones. Le projet de personnalisation a été axé sur l'intégration d'une solution de sécurité dans l'aéronef habité du client, conçu pour des applications personnelles, privées, militaires et logistiques. Cet aéronef combine la capacité de décollage et d'atterrissage vertical (VTOL) avec l'efficacité du vol horizontal.

ParaZero Technologies (Nasdaq: PRZO) hat einen Kaufauftrag über 187.000 Dollar von einem US-amerikanischen Unternehmen für fortschrittliche Luftmobilität (AAM) für fortschrittliche Drohnensicherheitssysteme erhalten. Dieser Auftrag folgt auf den erfolgreichen Abschluss eines Anpassungsprojekts und stellt einen bedeutenden Meilenstein für ParaZero im Bereich der Luftmobilität dar. Der Kaufauftrag umfasst Vorbereitungen für die Serienproduktion und die Lieferung einer ersten Charge von Systemen, was auf potenzielle zukünftige Großserienfertigung und -verteilung hinweist.

Der Auftrag stellt den letzten Schritt zur Erfüllung der Projektanforderungen des Kunden dar, der eng mit ParaZero zusammengearbeitet hat, um innovative Sicherheitstechnologien für Drohnen zu integrieren. Das Anpassungsprojekt konzentrierte sich darauf, eine Sicherheitslösung in das bemannte Flugzeug des Kunden zu integrieren, das für persönliche, private, militärische und logistische Anwendungen konzipiert wurde. Dieses Flugzeug kombiniert die Fähigkeit zum senkrechten Start und zur Landung (VTOL) mit der Effizienz des horizontalen Fluges.

Positive
  • Received a $187,000 purchase order for advanced drone safety systems
  • Moving towards serial production, indicating potential for large-scale manufacturing
  • Successful completion of a customization project for a U.S.-based AAM company
  • Strengthening partnership with a valued customer in the growing air mobility sector
Negative
  • None.

Insights

This $187,000 purchase order marks a significant milestone for ParaZero, signaling the transition from customization to serial production of their advanced drone safety systems. The order from a U.S.-based Advanced Air Mobility company not only validates ParaZero's technology but also positions them strategically in the rapidly growing eVTOL market. With projections indicating a $6.22 billion market for eVTOL air taxis by 2030, ParaZero is well-positioned to capitalize on this growth. The company's focus on safety systems for both defense and commercial applications gives them a competitive edge in a sector where safety is paramount. This order could potentially lead to larger contracts and establish ParaZero as a key player in the air mobility safety ecosystem. Investors should note that while the current order size is modest, it represents a important step towards larger-scale production and potential recurring revenue streams in a high-growth industry.

Tel Aviv, Israel, Sept. 24, 2024 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company” or “ParaZero”), an aerospace company focused on safety systems for defense and commercial drones and urban air mobility aircraft, announced today that it has received a $187,000 purchase order from a U.S.-based Advanced Air Mobility (AAM) company in the aerial vehicle industry. This order follows the successful completion of the advanced drone safety system customization project that the Company previously announced and marks another milestone for ParaZero in the growing air mobility sector.

The purchase order includes preparations for serial production, as well as the delivery of an initial batch of systems, signifying the initiation of potential future large-scale manufacturing and deployment of ParaZero's cutting-edge drone safety solutions. This order also represents the final step in fulfilling the comprehensive project requirements for the client, who has been closely working with ParaZero to ensure the integration of ParaZero’s innovative drone safety technologies.

“We are thrilled to continue strengthening our partnership with this valued customer and to move forward with the production and delivery of our advanced safety systems,” said Boaz Shetzer, CEO of ParaZero Technologies. “This purchase order reflects the customer’s confidence in ParaZero’s technology and readiness for scaled production as the air mobility industry expands rapidly”.

The order follows a customization project that focused on integrating an innovative safety solution into the customer’s manned aircrafts, which is designed for personal, private, military and logistical applications.

The manned aircraft represents a significant leap in next-generation air mobility, offering a versatile platform that combines vertical takeoff and landing (VTOL) capabilities with the efficiency of horizontal flight. It is engineered to meet a wide range of operational needs, from recreational use to complex missions in challenging environments.

According to GII Global Information, by 2030 the market for electric VTOL (eVTOL) air taxi market is expected to reach $6.22 billion. According to the same source, the adoption of eVTOL air taxis is driven by the demand for cleaner and more environmentally friendly transportation options. These aircraft, powered by electric propulsion systems, have the potential to significantly reduce emissions compared to conventional fossil fuel-powered aircraft.

About ParaZero Technologies

ParaZero (Nasdaq: PRZO) is a leading developer of autonomous parachute safety systems technologies for commercial and military platforms as well as for urban air mobility (UAM) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero develope and manufacture 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 the initiation of potential future large-scale manufacturing and deployment of ParaZero's cutting-edge drone safety solutions, its readiness for scaled production as the air mobility industry expands rapidly and the rapid expansion of the air mobility industry. 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 From 20-F for the year ended December 31, 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 content of third-party websites.

Investor Relations Contact:

Michal Efraty
Investor Relations
michal@efraty.com


FAQ

What is the value of the purchase order ParaZero (PRZO) received?

ParaZero (PRZO) received a purchase order valued at $187,000 from a U.S.-based Advanced Air Mobility company.

What does the purchase order for ParaZero (PRZO) include?

The purchase order includes preparations for serial production and delivery of an initial batch of advanced drone safety systems.

What type of aircraft is ParaZero's (PRZO) safety system being integrated into?

ParaZero's safety system is being integrated into a manned aircraft with vertical takeoff and landing (VTOL) capabilities designed for personal, private, military, and logistical applications.

What is the projected market size for eVTOL air taxis by 2030, according to the ParaZero (PRZO) press release?

According to GII Global Information cited in the press release, the eVTOL air taxi market is expected to reach $6.22 billion by 2030.

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