The purchase order amounts to approximately $241,000 USD
Tel Aviv, Israel, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, announced today that ParaZero Technologies Ltd. ("ParaZero"), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, of which Medigus has a 40 percent ownership stake, has received a purchase order for dozens of ParaZero's SafeAir safety systems for approximately $241,000 USD.
The purchase order was received from a leading global aerospace company focused on UAV development.
"By providing advanced safety systems, ParaZero is pioneering a new way for drones and aerospace to get to market faster. The latest purchase order is proof that ParaZero's solutions are gaining traction among companies around the world, including LIFT Aircraft and Speedbird Aero," said Liron Carmel, CEO of Medigus.
ParaZero's SafeAir System is a unique, patented technology for drones, designed to protect hardware, people, and payload in the event of an in-flight failure. The SafeAir system is a smart parachute system that monitors UAS flight in real time, identifies critical failures and autonomously triggers a parachute in the event of an emergency. The system contains a flight termination system, a black box to enable post-deployment analysis, and a warning buzzer to alert people of a falling drone. In addition to being fully autonomous, the SafeAir system includes a separate remote control for manual parachute deployment capability.
ParaZero has a global distribution footprint and has forged partnerships all around the world, including India, South Korea, the United States, Latin America and Europe. ParaZero also sells its drone safety systems as off-the-shelf solutions, as well as performs integrations with original equipment manufacturers, or OEMs, offering customized, bespoke safety solutions for a large variety of aerial platforms, including multi-rotor, fixed wing, vertical take-off and landing, or VTOL, heavy lifting, and urban air mobility.
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce and electric vehicle markets. Medigus' affiliations in the medical solutions arena include ownership in Polyrizon Ltd. and ownership in industry 4.0 company, ScoutCam Inc. 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 Ltd. are also part of the Company’s portfolio of technology solution providers. To learn more about Medigus’ advanced technologies, please visit http://www.medigus.com/.
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