New expertise flies in for ParaZero, with notable advisory board appointments
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Special Report: ASX-listed ParaZero has flown in some quality reinforcements as it prepares to take on a global drone market expected to be worth US$40 billion by 2025.
Drone safety company ParaZero is adding significant expertise to its business with two key appointments to its Advisory Board.
The appointments include former US Federal Aviation Administration admin Michael Huerta and former Australian Ambassador to Israel, Dave Sharma.
The company (ASX:PRZ) hopes the new additions will add further credibility and expertise to its offering.
ParaZero has developed SafeAir – a solution that ensures safe flight operations for commercial drones.
It can be deployed onto any drone and monitors different parameters including speed, altitude, temperature, vibration and gyration.
The safety system analyses any malfunctions or user errors to determine if these could be critical, and uses this information in real-time to save payloads, protect crowds, prevent the drone from flying into restricted airspace, and protect the drone from damage.
If needed, it can even stop the drone’s rotors and set off a siren and flashing lights to alert any people below before deploying a parachute to land the drone safely.
The company will soon be bringing the solution to the mass consumer market and says the calibre of its team is just as important as the quality of its products.
Mr Huerta will serve as a valuable resource for ParaZero as it looks to capitalise on the growing commercial drone sector.
Experts estimate the market for civilian use will reach $US40 billion by 2025.
As former FAA chief, Mr Huerta brings extensive skills and a valuable network in the aviation and technology industries.
He was nominated by former US president Barack Obama to the role and he has over three decades of senior and executive management experience in tech and aviation.
He was even named one of the eight most influential people in drones by Drone Definition in 2014.
“Michael is highly regarded in the aviation industry and his extensive knowledge, contacts and expertise will be transformational in our growth and development strategy,” said ParaZero CEO Eden Attias.
The FAA and its European equivalent European Aviation Safety Agency (EASA) are leading the way as regulators look to support commercial drone use while ensuring public and civil safety are well-protected.
ParaZero also added the former Australian Ambassador to Israel, Dave Sharma, to its Advisory Board in November.
Mr Sharma is known most recently as the Liberal candidate for the Wentworth seat in Sydney that went to Kerryn Phelps in October but he also held the positions of International Relations Advisor to the Prime Minister, and Advisor to the Foreign Minister. He was also responsible for managing Australia’s diplomatic presence in Africa and has taken part in numerous other diplomatic missions.
“Both Michael and Dave bring highly relevant expertise and experience to the business and their networks in the industry will be invaluable to the company in supporting our growth strategy of building a strong global footprint,” Mr Attias said.
Major General James Poss, who serves as Assistant Deputy Chief of Staff for Intelligence, Surveillance and Reconnaissance (ISR) with the US Air Force, is also a member of the advisory board.
“We’re incredibly fortunate to have such renowned and industry experts supporting our technology and these appointments also provide excellent validation of our technology. I look forward to leveraging their expertise and networks as we expand into the mass consumer drone market,” added Mr Attias.