BIG News for Parallel Flight Technologies
Parallel Flight Technologies (“PFT”) announced BIG and BIGGER news over the weekend.
BIG: New funding
A new round of funding has taken flight to fuel previous crowdfunding of $7.4M.
Reasons to Invest
Large Market Potential: Operating between 3 large industries. $65B Industrial Logistics + $20B Healthcare + $10B Wildfire Suppression markets.
Strong Team: CEO is a former Tesla Semi-Truck electrical engineering leader. Founding team has deep robotics experience from Verb Surgical, drone swarm work with the Navy, and machine vision expertise.
Advisors/Investors: Cadre of expert advisors from the aviation and wildfire sectors who see drones as the future of flight and service.
Innovative Technology: NASA, NSF and USDA funded, exponentially longer flight times with a heavy payload vs. existing technology for unmanned aircraft.
You can invest via crowdfunding at: INVEST IN PARALLEL FLIGHT TECHNOLOGIES
BIGGER: Partnership
Parallel Flight Technologies and LIFT Aircraft enter agreement for hybridization of HEXA eVTOL aircraft.
Parallel Flight Technologies, a leader in heavy-lift drone technology, and LIFT Aircraft are pleased to announce a new collaboration to develop a hybridization solution for LIFT’s HEXA eVTOL aircraft. Parallel Flight’s proprietary Parallel Hybrid Electric Multirotor (PHEM) drone technology is an exponential improvement over existing solutions in terms of flight time with a heavy payload, yielding increased efficiency and eliminating the large battery used in other hybrids.
Parallel Flight’s core Parallel Hybrid technology can be customized for next generation aircraft, which has the potential to extend HEXA’s flight time from 15 minutes to well over an hour and drastically increase range. If successful, LIFT would offer both all-electric and hybrid eVTOL flights at its vertiports, depending on the flight route and distance. Expanded applications for the LIFT HEXA after hybridization will include manned search and rescue, enhancing first responder capabilities by allowing for substantially quicker response times to remote locations; as well as considerable increases in useful flight durations and ranges for different military platforms.
Matt Chasen
Joshua Resnick
“Parallel’s hybrid technology can offer the best of both worlds - instant electric torque needed for multirotor flight control combined with very high energy density of liquid fuels. Our all-electric aircraft is designed for short range/short-duration flights - which we believe will be the largest segment in the eVTOL market. However, a hybrid system will allow us to offer a significantly expanded flight area for those wanting to fly longer distances”, says Matt Chasen, Founder and CEO of LIFT Aircraft
“LIFT’s revolutionary aircraft architecture is an ideal platform for hybridization using our Parallel Hybrid Electric Multritoror (PHEM) technology. HEXA’s design lends itself to safety, redundancy, and modularity, and I think there will be many use-cases and market opportunities enabled by a joint, hybrid solution,” adds Joshua Resnick, CEO of PFT.
Parallel Flight’s transformative UAS technology can be applied across multiple logistics verticals, including real-time and complex healthcare logistics, tactical support for firefighters and first responders, and industrial logistics. By serving as an original equipment manufacturer and service provider, Parallel Flight Technologies is well-positioned to revolutionize drones as a service (DAAS) on a global scale.
About Parallel Flight Technologies: www.parallelflight.com
Parallel Flight Technologies is an industrial-grade drone company with a mission to deliver unmanned systems that save lives, property and the environment. Headquartered La Selva Beach, California, the startup company has developed proprietary drone technology that will allow drones to carry heavy payloads for over two hours, making it ideal for use in fighting wildfires, search and rescue, healthcare and other mission-critical logistics applications.
Press Contact: Sarah Abdi | sarah.abdi@parallelflight.com
About LIFT Aicraft: www.liftaircraft.com
Austin, Texas based LIFT Aircraft is making aviation history, launching the world’s first experiential entertainment business based on an entirely new type of personal, electric vertical takeoff and landing (eVTOL) aircraft. HEXA, LIFT Aircraft’s multi-rotor, amphibious, ultralight aircraft is a “drone for people” that anyone can fly without a pilot’s license or highly specialized training - making the joy and utility of personal, vertical flight accessible to all.
Press Contact: Kristin Giffin, Director of Marketing and Communications | kristin@liftaircraft.com