ParaZero Elevates Defense Drone Safety with Groundbreaking AI Avionics System

Tel Aviv, Israel, Nov. 17, 2023 (GLOBE NEWSWIRE) — ParaZero Technologies Ltd. (Nasdaq: PRZO) (“ParaZero”), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, recently unveiled a pioneering AI-driven avionics system, SmartAir Trinity, setting a new standard for drone safety within the defense sector. This advanced technology offers real-time malfunction detection and critical mission analytics, ensuring a robust solution to support operational security for defense drones.

SmartAir Trinity, launched in early September this year, is an advanced, AI-based avionics system that represents a significant leap in drone operational safety. Utilizing a pioneering sensor array, SmartAir Trinity provides real-time detection of malfunctions in UAS and eVTOL aircraft. This technological marvel not only ensures the utmost safety for defense missions but also delivers comprehensive analytics for post-mission debriefings– a feature that is critical for continual improvement in high-stakes operations.

ParaZero’s commitment to innovation is further exemplified through strategic partnerships, enhancing AI capabilities and reinforcing its stature as a leader in autonomous aerial safety for national security applications.

ParaZero’s CEO, Boaz Shetzer, stated, “Our latest AI avionics system is the culmination of relentless innovation and a deep commitment to operational safety. This technology is not just about responding to emergencies; it’s about foreseeing them, preparing for them, and ultimately safeguarding our defense personnel and assets.”

“Our recently announced collaboration with Maris-Tech Ltd., and building upon a year of operational excellence with Easy Aerial in defense and homeland security applications, ParaZero’s SmartAir Trinity is set to become the new cornerstone of drone safety in high-stakes environments.”

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, the Company is using forward-looking statements when it discusses the benefits of its technologies and products, and that SmartAir Trinity is set to become the new cornerstone of drone safety in high-stakes environments. Forward-looking statements are not historical 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