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Medigus’ ParaZero Signs an Agreement to Develop Custom Safety Solution for a Leading Global Automotive Manufacturer’s Drone Program

Tel Aviv, Israel, April 25, 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 Ltd. (“ParaZero”), a privately held company engaged in drone technology with an innovative patented safety system for drones, of which Medigus has a 40 percent ownership stake, has signed an agreement with a leading global automotive manufacturer for the development of a bespoke safety solution for its proprietary drone program.

The automotive manufacturer plans to integrate ParaZero’s SafeAir™ drone safety system into their proprietary aircraft from the design stage, allowing for an optimized and seamless integration. ParaZero has a proven history of supplying advanced safety solutions for global manufacturers and companies across a myriad of aerial platforms, including multirotor, single rotor, fixed wing, vertical takeoff and landing (VTOL), manned and unmanned, and urban air mobility vehicles.

ParaZero’s patented drone safety system is designed to protect people and payloads, providing a solution to reduce the risk of a drone’s malfunction in an urban environment. Unique in the industry, the system includes a smart parachute system that monitors drone flight in real time, identifies critical failures, and autonomously triggers a parachute in the event of an emergency.

ParaZero’s safety technology contains a portfolio of ASTM F3322-18 compliant parachute recovery systems for leading enterprise drone platforms, including the DJI Mavic 2, Phantom 4, Matrice 200, Matrice 300, and the AIROBOTICS Optimus drone, among a number of others in development. Achieving certification for the ASTM F3322-18 standard requires 45 successful aerial parachute deployments, across a number of failure scenarios, in the presence of an approved third-party testing agency. These tests and corresponding data generated provide global regulators the confidence required in assessing the performance benchmarks of a drone parachute system for issuing advanced operational approvals: effectiveness and reliability in all failure scenarios, rated descent rate, and minimum flight altitude.

ParaZero’s portfolio of ASTM F3322-18 compliant parachute recovery systems and OEM-integrated safety solutions have enabled a large number of organizations and operators around the world to receive approvals for advanced drone operations, including operations over people, BVLOS, and drone delivery.