ParaZero Receives Second Order from One of the World’s Largest Automotive Manufacturers
07 August 2023 - 10:05PM
ParaZero Technologies Ltd. (Nasdaq: PRZO) (“ParaZero”), an
aerospace company focused on drone safety systems for commercial
drones and urban air mobility aircraft, announced today that it has
received a second order for its custom safety system for drones by
one of the world’s largest automotive manufacturers.
The repeat order follows an agreement previously signed
with the 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 aircraft.
“We are excited about this significant order from a top-tier
automotive manufacturer. This collaboration underscores the
industry’s trust in our cutting-edge drone safety systems. We see
this as a testament to our unwavering commitment to innovation and
safety. As we venture further into this exciting partnership, it
solidifies ParaZero’s position at the forefront of drone safety
technology, catering to diverse industries, including the dynamic
world of automotive manufacturing.” - Boaz Shetzer, Chief Executive
Officer of ParaZero.
About ParaZero
TechnologiesParaZero ( 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).
Forward-Looking StatementsThis 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 fulfilling purchase orders.
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
EfratyInvestor Relations,
Israel+972-(0)52-3044404michal@efraty.com
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