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ParaZero Technologies | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  Feb 20 16:06
Summary by Moomoo AI
ParaZero Technologies Ltd., an aerospace company specializing in drone safety systems, has announced an expansion of its partnership with Vayu Aerospace Corporation, a US-based autonomous drone OEM and subsidiary of Alpine 4 Holdings. The collaboration, which has been ongoing for two years, will now include the integration of ParaZero's SafeAir system into Vayu's fleet of VTOL aircraft, such as the G-1MKII and US-1-MKII. This integration is aimed at enhancing safety and regulatory compliance, particularly for operations beyond visual line of sight (BVLOS). The global market for VTOL unmanned aerial vehicles is expected to reach $27.5 billion by 2030, growing at a CAGR of 19.9%. ParaZero's CEO Boaz Shetzer expressed enthusiasm for setting new safety and functionality standards in the...Show More
ParaZero Technologies Ltd., an aerospace company specializing in drone safety systems, has announced an expansion of its partnership with Vayu Aerospace Corporation, a US-based autonomous drone OEM and subsidiary of Alpine 4 Holdings. The collaboration, which has been ongoing for two years, will now include the integration of ParaZero's SafeAir system into Vayu's fleet of VTOL aircraft, such as the G-1MKII and US-1-MKII. This integration is aimed at enhancing safety and regulatory compliance, particularly for operations beyond visual line of sight (BVLOS). The global market for VTOL unmanned aerial vehicles is expected to reach $27.5 billion by 2030, growing at a CAGR of 19.9%. ParaZero's CEO Boaz Shetzer expressed enthusiasm for setting new safety and functionality standards in the drone industry. Kent Wilson, CEO of Alpine 4 and Vayu Aerospace, highlighted the importance of the SafeAir system for operational safety. Nathan Grier, Director of Flight Operations at Vayu, emphasized the partnership's role in exceeding regulatory standards and aiding in EASA certifications. The SafeAir system, equipped with integrated sensors and an onboard computer, autonomously mitigates flight risks by deploying a parachute in case of critical failure. The press release also contains forward-looking statements regarding the partnership's potential to set new standards in drone safety.

This announcement is a separate document:

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