ParaZero Technologies Ltd. (Nasdaq: PRZO) (the “Company” or “ParaZero”), an aerospace company specializing in drone security systems for defense and commercial drones and urban air mobility aircraft, today announces a partnership with a leading Tier 1 defense OEM (the “Customer”) to customize and integrate its state-of-the-art drone security system for operational use in military and medical missions. The Company was awarded the first contract as part of a broader collaboration aimed at improving the efficiency and safety of field medical mission deliveries, particularly in critical and remote areas.

In the initial phase, ParaZero will provide the customer with 50 systems for the testing phase, during which ParaZero will develop and validate the necessary customizations for the medical delivery system. After successfully completing this testing phase, the customer plans to purchase hundreds more systems for a pilot program. These phases are expected to be completed by the end of 2024, after which the customized systems will go into commercial production for operational use. The ultimate goal is to develop a scalable, cost-effective production system that can be widely deployed and ensure that medical deliveries are safer, faster and more reliable.

ParaZero’s renowned drone security systems, originally developed for military and commercial applications, will be adapted and integrated to meet the unique mission and operational requirements of medical operations. This initiative underscores the company’s commitment to enter the defense markets and use its technology to save lives and improve healthcare logistics.

Boaz Shetzer, CEO of ParaZero, stated: “We are excited to work with our defense partners to adapt our drone security system for medical use. This partnership underscores the synergy between ParaZero’s innovative technology and the defense industry. By joining forces, we aim to revolutionize medical logistics and make critical medical supplies more easily accessible in emergencies and remote areas. This has tremendous potential for both military medical care and commercial delivery of medical aid.”