Innovative new strategic partnership targets helicopter and drone enhanced safety
Tel Aviv, Israel, Dec. 12, 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, previously announced that it is moving towards enhancing safety capabilities in the defense and drone sectors through its strategic partnership with KULR Technology Group Inc. (NYSE American: KULR). This partnership aims to leverage ParaZero's defense industry network to apply KULR's advanced vibration reduction technology, "KULR VIBE," across helicopter and rotorcraft fleets.
The collaboration will combine ParaZero's SafeAir and SmartAir Trinity solutions with KULR VIBE software in a unified product, designed to significantly enhance drone performance, operational efficiency, and safety standards, thereby setting a new benchmark in the industry.
The partnership leverages ParaZero's deep connections and expertise to bring groundbreaking safety technologies to the forefront of military aviation.
"Joining forces with KULR Technology Group is a strategic move towards Optimizing safety in the defense and drone sectors," said Boaz Shetzer, CEO of ParaZero. "Our combined expertise in safety systems and vibration control technology will deliver unparalleled solutions, enhancing the reliability and performance of critical aerial vehicles."
KULR VIBE, utilizing AI-driven algorithms for vibration analysis and reduction, is pivotal for maintaining optimal performance and safety in helicopters and high-performance unmanned aerial applications. Reducing vibration not only extends flight range and improves efficiency but is also crucial for preventing catastrophic failures and maintenance issues.
Both companies have established reputations for innovation and success in their respective fields, making this partnership a significant step forward in the advancement of safe and efficient aerospace technologies.
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).
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 its aim to achieve increased drone performance, operational efficiency, and improve safety to set a new standard for the industry. Forward-looking statements are not historcal 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
