Medigus: ParaZero Signs New Development Agreement with Latin American Drone Manufacturer Black Square
21 August 2023 - 1:35PM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
electric vehicle charging solutions, advanced medical solutions,
and innovative internet technologies, today announced that ParaZero
Technologies Ltd. (PRZO) (“ParaZero”), an aerospace company focused
on drone safety systems for commercial drones and urban air
mobility aircraft, (33.36% owned by Medigus), has announced
its further expansion into the Latin American drone market with a
new development agreement with Colombia-based drone OEM, Black
Square, an industrial drone producer leader in the region that
focuses on enterprise drone platforms.
Black Square's decision to integrate ParaZero's
patented parachute technology underscores the importance of safety
in advanced drone operations.
Black Square CEO, Juan Manuel Gonzalez, stated:
“Adding rescue systems to our Hercules X4 and Hercules X8 heavy
lift drone’s family was a necessary step to enhance our platform
safety as well as expand the case uses for our platforms and
customers. To guarantee the success of this move, we know for sure
that we have to do it hand by hand with the best. For that reason,
we choose ParaZero to join us in this journey.”
"Latin America represents a growing market for
commercial drone applications, and our collaboration with Black
Square solidifies our commitment to promoting safety across the
commercial drone and urban air mobility ecosystem in the region,"
said Boaz Shetzer, Chief Executive Officer of ParaZero. "Having
recently facilitated groundbreaking operational approvals in Latin
America with our technology, we're eager to further our presence
and deepen our ties in Latin America, and we look forward to our
new partnership with the very talented team at Black Square."
ParaZero’s SafeAir system offers a holistic safety
approach for drone operations. By constantly monitoring and
analyzing the aircraft’s flight patterns, it ensures that any
indication of critical failure triggers the autonomous deployment
of a ballistic parachute. This ensures a safe, controlled descent,
drastically minimizing ground risk and potential for damage or
injury in the event of an in-flight emergency.
Equipped with ParaZero’s patented parachute
technology, organizations and operators around the world have
received regulatory approvals for advanced operations, including
autonomous flight beyond visual line of sight (BVLOS), operations
over people (OOP), operations in densely populated areas, and drone
delivery, by providing a robust safety solution to mitigate ground
risk in the event of an emergency.
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).
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a
technologies company that is focused on innovative growth
partnerships, mainly in advanced medical solutions, digital
commerce, and electric vehicle markets. Medigus' affiliations in
the medical solutions arena consist of ownership in Polyrizon Ltd.
The Company’s affiliates in digital commerce include Gix Internet
Ltd., Jeffs’ Brands Ltd. and Eventer Technologies Ltd. In the
electric vehicle market, Charging Robotics Ltd. and Revoltz, by way
of Fuel Doctor Holdings, Inc., are also part of the Company’s
portfolio of technology solution providers. Medigus is traded on
the Nasdaq Capital Market. To learn more about Medigus’ advanced
technologies, please visit http://www.medigus.com/.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal 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. Because such statements deal with
future events and are based on Medigus’ current expectations, they
are subject to various risks and uncertainties, and actual results,
performance or achievements of Medigus could differ materially from
those described in or implied by the statements in this press
release. For example, Medigus uses forward looking statements
when it discusses Parazero’s development agreement with Black
Square and further expansion into Latin America.
The forward-looking statements contained or implied
in this press release are subject to other risks and uncertainties,
including those discussed in any filings with the SEC. Except as
otherwise required by law, Medigus undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. 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. Medigus is not responsible for
the contents of third-party websites.
Company Contact
Tali Dinar Chief Financial Officer +972-8-6466-880
ir@medigus.com
Investor Relations Contact:
Michal Efraty Investor Relations, Israel +972-(0)52-3044404
michal@efraty.com
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