ParaZero Technologies and Maris-Tech Expand their Collaboration into the Defense Market for Drones
12 Octobre 2023 - 1:55PM
ParaZero Technologies Ltd. (Nasdaq: PRZO) ("ParaZero"), an
aerospace company focused on drone safety systems for commercial
drones and urban air mobility aircraft, and Maris-Tech Ltd.
(Nasdaq: MTEK) ("Maris-Tech"), a B2B provider of edge artificial
intelligence (“AI”) accelerated video solutions for edge platforms,
including drones, today announced an expansion of their
collaboration.
ParaZero and Maris-Tech entered into a letter of intent pursuant
to which the companies will collaborate to develop a unified
product, integrating safety technology and predictive maintenance.
In addition, the companies will explore the possibility of
enhancing the capabilities of ParaZero's failure prediction and
emergency safety system, utilizing the AI acceleration capabilities
in Maris-Tech’s original equipment manufacturer (OEM) products.
The CEO of ParaZero, Boaz Shetzer, said, "Maris-Tech's
cutting-edge video payloads and AI capabilities elevate drone
safety, showcasing the future of aerospace technology for the
defense industry."
Commenting on the collaboration, Israel Bar, Maris-Tech's CEO,
said, "Safety in drone systems is paramount in the defense
industry. Our collaboration with ParaZero ensures advanced safety
measures, underlining our commitment to being at the forefront of
edge technologies."
Mr. Amitay Weiss is the Chairman of the board of directors of
Maris-Tech and also the Chairman of the board of directors of
ParaZero.
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).
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of video streaming and AI
technology, founded by veterans of the Israel technology sector
with extensive electrical engineering and imaging experience. Its
products are designed to meet the growing demands of commercial and
tactical applications, delivering high-performance, compact, low
power and low latency solutions to companies worldwide, including
leading electro-optical payload, RF datalink and unmanned platform
manufacturers as well as defense, HLS, and communication companies.
For more information, visit https://www.maris-tech.com.
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, we are using
forward-looking statements when we are discussing the expansion of
the collaboration between Maris-Tech and ParaZero and development
of a unified product and our commitment to being at the forefront
of edge technologies. 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 EfratyInvestor Relations,
Israel+972-(0)52-3044404michal@efraty.com
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