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ParaZero Signed a Non- Binding MOU to Provide Autonomous Safety Systems for Bon V Heavy Lift Cargo Drones

Tel Aviv, Israel, July 05, 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”), a leading provider of autonomous drone safety systems for commercial drones and urban air mobility (UAM) aircraft, of which Medigus has a 40 percent ownership stake, has signed a non-binding memorandum of understanding (MoU) with Bon V, a leading Indian aerospace manufacturer, to integrate ParaZero SafeAir parachute recovery systems with Bon V’s products.

Bon V provides AI-powered, unmanned aerial vehicles (UAVs), including multi-utility, heavy lift cargo vehicles. ParaZero will supply its autonomous safety systems for Bon V’s range of aerial logistics platforms, ranging from 250kg to 650kg MTOW.

“Bon V is revolutionizing aerial mobility and aerial logistics. We’re incredibly excited to partner with their engineers on integrating our world-class safety systems into the Bon V heavy-lift and urban air mobility fleet,” says ParaZero CEO Boaz Shetzer.

Equipping Bon V’s heavy lift drones with ParaZero SafeAir autonomous parachute recovery systems (BRS) will provide safety, design and regulatory benefits for Bon V.

ParaZero’s onboard drone safety systems, SafeAir can be integrated with uncrewed vehicles and eVTOL platforms of any size. SafeAir constantly monitors a wide array of flight data to accurately detect a potential problem, deploying autonomously in the event of a failure. Equipped with ParaZero’s patented parachute technology, SafeAir systems have been used to facilitate regulatory acceptance and enable autonomous flight beyond visual line of sight (BVLOS) in countries around the world by providing a fail-safe solution to mitigate ground risk.