Medigus: ParaZero Ramps Up Partnership with US-Based Autonomous Drone OEM Vayu Aerospace Corporation
Tel Aviv, Israel, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in electric vehicle charging solutions, advanced medical solutions, and innovative internet technologies, today announced that on February 20, 2024 ParaZero Technologies Ltd. (Nasdaq: PRZO) (“ParaZero”), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, (18.68% owned by Medigus), announced that it has expanded its collaboration with Vayu Aerospace Corporation ("Vayu"), a US-based drone original equipment manufacturer (OEM) and subsidiary of Alpine 4 Holdings (“Alpine 4”) (Nasdaq: ALPP).
- The two companies worked together over the past two years enhancing safety solutions for Vayu’s commercial and military vertical take-off and landing (VTOL) aircraft.
- With this new collaboration, ParaZero will customize its SafeAir system to be integrated at the design stage of Vayu’s G-1MKII VTOL aircraft.
- Boaz Shetzer, Chief Executive Officer of ParaZero commented, “We are glad to strengthen our partnership with Vayu, an innovator in autonomous drone technology.
- The system cuts power to the drone, alerts people on the ground with an audible alarm, and deploys a lightweight parachute, bringing the drone down to the ground in a safe, controlled descent.