Xylo Technologies: ParaZero Received Order from a Leading Tier-One Defense Company for 50 Drone Safety Systems
Xylo Technologies (Nasdaq: XYLO) announced that ParaZero Technologies (Nasdaq: PRZO), an aerospace company 18.68% owned by Xylo, has initiated a partnership with a leading Tier 1 defense OEM to adapt its drone safety systems for military and medical missions. ParaZero received an initial order for 50 systems for testing, with plans to develop adaptations for medical delivery systems. Upon successful testing, the customer intends to purchase hundreds more systems for a pilot program. The project aims to enhance medical field mission deliveries in critical and remote areas, with completion expected by the end of 2024. ParaZero's goal is to develop a scalable, cost-effective mass production system for wider deployment, potentially entering defense markets and improving healthcare logistics.
Xylo Technologies (Nasdaq: XYLO) ha annunciato che ParaZero Technologies (Nasdaq: PRZO), un'azienda aerospace di cui Xylo possiede il 18,68%, ha iniziato una partnership con un importante OEM di difesa di livello 1 per adattare i suoi sistemi di sicurezza dei droni per missioni militari e mediche. ParaZero ha ricevuto un ordine iniziale di 50 sistemi per test, con piani di sviluppo per adattamenti a sistemi di consegna medica. Dopo test riusciti, il cliente intende acquistare centinaia di sistemi aggiuntivi per un programma pilota. Il progetto mira a migliorare le consegne nelle missioni sanitarie in aree critiche e remote, con completamento previsto entro la fine del 2024. L'obiettivo di ParaZero è sviluppare un sistema di produzione di massa scalabile ed economico per una distribuzione più ampia, potenzialmente entrando nei mercati della difesa e migliorando la logistica sanitaria.
Xylo Technologies (Nasdaq: XYLO) anunció que ParaZero Technologies (Nasdaq: PRZO), una empresa aeroespacial de la que Xylo posee el 18,68%, ha iniciado una asociación con un importante OEM de defensa de nivel 1 para adaptar sus sistemas de seguridad de drones para misiones militares y médicas. ParaZero recibió un pedido inicial de 50 sistemas para pruebas, con planes de desarrollar adaptaciones para sistemas de entrega médica. Tras pruebas exitosas, el cliente tiene la intención de adquirir cientos de sistemas más para un programa piloto. El proyecto tiene como objetivo mejorar las entregas en misiones médicas en áreas críticas y remotas, con finalización prevista para finales de 2024. El objetivo de ParaZero es desarrollar un sistema de producción en masa escalable y rentable para un despliegue más amplio, con la posibilidad de entrar en mercados de defensa y mejorar la logística de atención médica.
Xylo Technologies (Nasdaq: XYLO)은 Xylo가 18.68%를 소유하고 있는 항공우주 회사 ParaZero Technologies (Nasdaq: PRZO)가 1급 방산 OEM과 파트너십을 체결했다고 발표했습니다. 이 파트너십은 드론 안전 시스템을 군사 및 의료 임무에 맞게 조정하는 것입니다. ParaZero는 테스트를 위한 50개 시스템에 대한 초기 주문을 받았습니다, 의료 배송 시스템에 대한 적응을 개발할 계획입니다. 성공적인 테스트 후, 고객은 파일럿 프로그램을 위한 수백 개의 추가 시스템을 구매할 의도가 있습니다. 이 프로젝트는 중대하고 외딴 지역의 의료 분야 임무 전달을 향상시키는 것을 목표로 하며, 2024년 말까지 완료될 예정입니다. ParaZero의 목표는 더 넓은 배치를 위한 확장 가능하고 비용 효율적인 대량 생산 시스템을 개발하여 방산 시장에 진입하고 의료 물류를 개선하는 것입니다.
Xylo Technologies (Nasdaq: XYLO) a annoncé que ParaZero Technologies (Nasdaq: PRZO), une entreprise aérospatiale dont Xylo détient 18,68 %, a initié un partenariat avec un leader OEM de défense de niveau 1 pour adapter ses systèmes de sécurité de drones aux missions militaires et médicales. ParaZero a reçu une commande initiale de 50 systèmes pour des tests, avec des plans pour développer des adaptations pour les systèmes de livraison médicale. Après des tests réussis, le client a l'intention de acheter des centaines de systèmes supplémentaires pour un programme pilote. Le projet vise à améliorer les livraisons médicales sur le terrain dans des zones critiques et reculées, avec une achèvement prévu pour la fin de 2024. L'objectif de ParaZero est de développer un système de production de masse évolutif et rentable pour un déploiement plus large, avec la possibilité de pénétrer les marchés de la défense et d'améliorer la logistique des soins de santé.
Xylo Technologies (Nasdaq: XYLO) kündigte an, dass ParaZero Technologies (Nasdaq: PRZO), ein Unternehmen der Luft- und Raumfahrt, an dem Xylo zu 18,68 % beteiligt ist, eine Partnerschaft mit einem führenden Tier-1-Verteidigungs-OEM eingegangen ist, um seine Drohnensicherheitssysteme für militärische und medizinische Missionen anzupassen. ParaZero erhielt einen Erstauftrag über 50 Systeme zur Erprobung, mit Plänen zur Entwicklung von Anpassungen für medizinische Liefersysteme. Nach erfolgreich bestandenen Tests beabsichtigt der Kunde, hunderte weitere Systeme für ein Pilotprojekt zu kaufen. Das Projekt zielt darauf ab, die medizinischen Einsatzlieferungen in kritischen und abgelegenen Gebieten zu verbessern, mit einem Abschluss, der bis Ende 2024 erwartet wird. Das Ziel von ParaZero ist es, ein skalierbares, kosteneffizientes Massenproduktionssystem für eine breitere Bereitstellung zu entwickeln, das möglicherweise in Verteidigungsmärkte eintritt und die Gesundheitslogistik verbessert.
- Initial order received for 50 drone safety systems from a leading Tier 1 defense company
- Potential for hundreds of additional system orders upon successful testing
- Expansion into defense and medical mission markets
- Development of scalable, cost-effective mass production system
- Project completion expected by end of 2024, leading to commercial production
- None.
Insights
This order marks a significant milestone for ParaZero, demonstrating the versatility and adaptability of their drone safety systems. The partnership with a Tier 1 defense OEM validates the technology's potential in high-stakes applications. The initial order of 50 systems, with the prospect of hundreds more, indicates a substantial market opportunity.
The focus on medical field missions highlights an emerging niche in drone applications, potentially opening up new revenue streams. If successful, this could position ParaZero as a key player in military medical logistics. The timeline for completion by end-2024 suggests a rapid development cycle, which could accelerate ParaZero's market penetration and revenue growth.
Investors should note the potential for scalable, recurring revenue if the pilot program succeeds and leads to wider adoption. However, the defense sector's stringent requirements and potential for project delays pose risks that warrant careful monitoring.
The integration of drone technology into medical field missions represents a significant advancement in healthcare logistics. ParaZero's safety systems could be game-changing for delivering critical medical supplies to remote or dangerous areas, potentially saving countless lives.
The adaptation of these systems for medical deliveries addresses a crucial need in emergency medicine and disaster response. If successful, this technology could revolutionize triage and first-response scenarios, allowing for rapid deployment of medical resources without risking additional human lives.
The focus on developing a scalable, cost-effective mass production system is particularly promising. It suggests that this technology could become widely accessible, not just for military applications but potentially for civilian emergency services and humanitarian aid organizations as well. This broader applicability could significantly expand the market potential for ParaZero's technology.
This partnership signifies ParaZero's strategic entry into the defense sector, a move that could substantially boost its market presence and revenue. The involvement of a Tier 1 defense OEM lends significant credibility to ParaZero's technology and could pave the way for additional military contracts.
The focus on medical mission deliveries addresses a critical operational need in modern warfare and peacekeeping operations. Success in this niche could position ParaZero as a vital supplier in military logistics and support systems.
However, investors should be aware of the lengthy procurement cycles and stringent testing requirements typical in defense contracts. While the potential rewards are significant, the path to full-scale deployment may be protracted. The projected timeline for completion by end-2024 is ambitious and may be subject to extensions, which could impact short-term financial expectations.
Overall, this development represents a positive step for ParaZero, with the potential to significantly expand its market reach and long-term revenue prospects.
TEL AVIV, Israel, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Xylo Technologies Ltd. (Nasdaq: XYLO) (“Xylo” or the “Company”), a technology-based company engaged in advanced innovative technologies, announced today that ParaZero Technologies Ltd. (Nasdaq: PRZO) ( “ParaZero”), an aerospace company focused on drone safety systems for defense and commercial drones and urban air mobility aircraft (
In the initial phase, ParaZero will provide 50 systems to the customer for testing, during which time ParaZero will develop and validate the necessary adaptations for the medical delivery system. Upon successful completion of the testing phase, the customer plans to purchase additional hundreds of systems for a pilot program. These stages are expected to be completed by the end of 2024, after which the adapted systems will enter commercial production for operational use by this customer and other customers. ParaZero’s target is to develop a scalable, cost-effective mass production system that can be deployed widely, ensuring that medical deliveries are safer, faster, and more reliable.
ParaZero's drone safety systems, initially developed for defense and commercial applications, will be adapted and integrated to meet the unique mission and operational field requirements for medical operations. This initiative underscores the ParaZero's commitment to enter defense markets, as well as leveraging its technology to save lives and improve healthcare logistics.
About ParaZero Technologies
ParaZero (Nasdaq: PRZO) is a -leading developer of autonomous parachute safety systems technologies for commercial and military platforms as well as for 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 over populated areas and beyond-visual-line-of-sight (BVLOS) as well as for various military applications including Counter UAS. For more information about ParaZero, please visit https://parazero.com.
About Xylo
Based in Israel, Xylo Technologies Ltd. (Nasdaq: XYLO) is a technologies company that is focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce, and electric vehicle markets. Xylo’ affiliations in the medical solutions arena include the ownership in Polyrizon Ltd. The Company’s affiliates in digital commerce include Gix Internet Ltd., and Eventer Technologies Ltd. In the electric vehicle market, Charging Robotics, Inc. and Revoltz Ltd. are also part of the Company’s portfolio of technology solution providers. Other affiliations of the Company include Parazero Technologies Ltd. and Zig Miami 54 LLC.
Xylo is traded on The Nasdaq Capital Market. To learn more about Xylo’s advanced technologies, please visit https://ir.xylotech.ai/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal 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 such as the expected success of the ParaZero collaboration and integration of its systems in the market. Because such statements deal with future events and are based on Xylo’ current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Xylo could differ materially from those described in or implied by the statements in this press release.
The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the SEC. Except as otherwise required by law, Xylo undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. 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. Xylo is not responsible for the contents on third-party websites.
Company Contact:
Tali Dinar
Chief Financial Officer
ir@xylotech.ai
Investor Relations Contact:
Michal Efraty
Investor Relations,
michal@efraty.com
FAQ
What is the initial order size for ParaZero's drone safety systems from the Tier 1 defense company?
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When is the project with the Tier 1 defense company expected to be completed for ParaZero (PRZO)?
What is the main application for ParaZero's (PRZO) adapted drone safety systems in this partnership?
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