Parallel Flight Technologies (PFT), an industrial grade heavy-lift drone company, has unveiled the design of its beta-level aircraft, the startup’s first production-intent drone that will be delivered to PFT’s first customers in 2021. A 10X gain over existing solutions in terms of flight-time with a heavy payload, Parallel Flight Technologies’ new drone will have applications across multiple industries including firefighting, industrial logistics and healthcare. The aircraft is now under construction at the PFT headquarters and is on track for flight testing at the end of the year.
Parallel Flight Technologies’ patent-pending technology allows multirotor drones to fly for hours while carrying their own mass in payload, a ten times improvement over all-electric systems. PFT’s parallel hybrid technology is unique and has never been used before in a multirotor aircraft. The result is a fully redundant drone that combines extreme heavy lifting with long flight duration. Parallel Flight Technologies successfully flew its prototype parallel hybrid aircraft in the winter of 2019 and has spent the past year focusing on testing and development of the beta-level aircraft.
“This is an incredibly exciting time for Parallel Flight Technologies,” said Joshua Resnick, co-founder and CEO of the California-based drone company. “Our product has evolved from a prototype to a production-intent aircraft in a short period of time, and we’re now on the cusp of commercialization. We look forward to delivering solutions to our first customers next year.”
Parallel Flight Technologies’ new product announcement aligns with the launch of the startup’s latest equity crowdfunding campaign, a Regulation A+ offering hosted on StartEngine. The $7.5 million PFT aims to raise through this offering will be used to hire key engineering roles to accelerate the company’s path to commercialization.
“Our Regulation A round is our most ambitious crowdfunding campaign to date,” said Resnick. “This is an opportunity for the public to invest in a solution that will save lives, property, and the environment.” PFT has previously raised over $1.6 million through equity crowdfunding.
About Parallel Flight Technologies
Parallel Flight Technologies is an industrial-grade drone company with a mission to deliver unmanned systems that save lives, property and the environment. Based La Selva Beach, California, the startup company has developed patent-pending 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. To learn more, please visit www.parallelflight.com.
This Reg A+ offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.