ParaZero Successfully Completed its Drone Safety Project with a Fortune 500 Leading Automotive Manufacturer

ParaZero is furthering its collaboration with the same esteemed customer, having recently secured an additional order

Tel Aviv, Israel, Dec. 20, 2023 (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company “ParaZero”), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, announces the successful completion of its safety solution development for a Fortune 500 leading global automotive manufacturer’s (" the Customer") proprietary drone program. In line with the project's completion, ParaZero has received full payment for the development of a first of its kind development custom variant their innovative SafeAir drone safety system.

This project involved development and testing of a custom groundbreaking ParaZero SafeAir system designed to meet challenging requirements and specifications to meet the Fortune 500 automotive manufacturer's proprietary aircraft from the design stage, ensuring optimized and seamless integration, at unique flight envelope and characteristics. The successful completion of this project reinforces ParaZero’s reputation as a provider of advanced safety solutions across various aerial platforms, including multirotor, single rotor, fixed-wing, VTOL, manned and unmanned, and urban air mobility vehicles, and its abilities to develop custom product variants to meet unique requirements and standards per the Fortune 500 automotive and UAS manufacturer.

In addition to this achievement, ParaZero has received its second purchase order from the Customer, few months ago. This ongoing project further strengthen ParaZero's position as a leader in the aerospace industry, particularly in the development and integration of drone safety systems.

Boaz Shetzer, CEO of ParaZero, commented, “We are thrilled with the successful completion of this project, which showcases our high technical capabilities and our commitment to delivering top-tier solutions in drone safety. The second order we have recently secured, from this automotive company is a clear indication of the growing trust and demand in our specialized services.”

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).