Parallel Flight Technologies offering is now closed and is no longer accepting investments.

Saving lives, property, and the environment

INVEST IN PARALLEL FLIGHT TECHNOLOGIES TODAY!

We’ve created proprietary Parallel Hybrid Electric Multirotor (PHEM) drone technology that allows drones to carry heavy payloads exponentially longer than current technology. This makes it ideal for use in fighting wildfires, search and rescue, medical, and logistics missions. Our unmanned, autonomous aircraft open new possibilities for the safety of first responders and many other commercial applications.
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This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Parallel Flight Technologies

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.

“Heavy Lift + Longer Flight Times”


*Aircraft is in prototype phase, Firefly is not currently available on the market.


Success since our last raise

Since our last offering, Parallel Flight has reached multiple milestones: 

  • Our ongoing test program is flying our drones fully autonomously with up to 100lbs of payload.
  • We have increased customer traction with over 30 LOI’s signed valued at 60 million in estimated revenue based on all orders being completed and fully executed.*
  • We are launching Parallel Flight Europe BV, a Drone as a Service (DAAS) company in Europe.
  • Successfully identified simulation and control methods for our Parallel Hybrid Electric Multirotor (PHEM) UAS Under an NSF Phase 1 grant and laid the foundation for our advanced simulation training project.
  • Submitted an NSF Phase 2 proposal to build first of its kind robust  advanced simulation development and customer training capabilities for UAS pilots in partnership with Drone Amplified, Grayback Forestry, Colorado Center of Excellence, and the Department of Interior’s Office of Aviation Services.
  • Under an active USDA Phase 2: Ongoing integration with Drone Amplified's scaled-up IGNIS device in order to deliver an unmanned aerial controlled burn solution with 10x the acreage burn capabilities.
  • Entered agreement with Lift Aircraft for the hybridization of their manned HEXA platform.
  • Invited by the Air Force Agility Prime program to submit a Direct to Phase 2 proposal to hybridize eVTOLs.
  • Selected as the drone of choice for Project Vesta: a rapid wildfire detection and response pilot project led by the Naval Postgraduate School, focused on integration of numerous innovative fire technology partners.

Addition of new team members + advisors: 

  • Chris Krajewski, Adviser - 30+ years of aviation and energy leadership and former Senior Executive with CHC Helicopters - Leading Parallel Flight’s new European subsidiary
  • Russell Hill, Chief IP Counsel - Former CHC Helicopters Chief Compliance executive, VP Legal & Chief IP Counsel for Lenovo, Deputy General Counsel for Logitech
  • Dorian West, Adviser - Former Tesla Director of Engineering
  • Al Schoepp, Adviser - Product and technology development engineer in industrial robotics

*Please note that LOIs are not an official offer, are non-binding, and that all details would need to be negotiated and executed through a formal Purchase (or other) Agreement.




The Problem


Today's drones can only carry a heavy load for 15 minutes

Electric drones can only fly for fifteen minutes when carrying a heavy payload. Existing gas-powered drones have the ability to fly longer, but are not designed for heavy payloads. Ongoing and dangerous problems, like the wildfire crisis, could seriously benefit from the use of drones, but need long flight-time and heavy-lift.  The Forest Service, military, and private companies are actively looking for heavy lift solutions for wildfire, search and rescue, healthcare and industrial logistics, but the existing solutions are too limited in terms of flight duration and payload. 

The Solution


Our new Parallel Hybrid drone can fly for hours with a heavy payload

Our new Parallel Hybrid technology is an exponential improvement over existing solutions in terms of flight-time with a heavy payload. Our Parallel Hybrid system increases efficiency and eliminates the large battery used in other hybrids. This means higher efficiency and more payload capability. Parallel hybridization is used in the automotive world, but has never been applied to drones, until now.



What We Do


Our autonomous drones deliver heavy payloads with precision and speed

Our heavy-lift unmanned aircraft are programmed from a ground station, and then autonomously perform the mission. The aircraft can also be remote-controlled by a pilot. Because our technology greatly expands the flight-time and payload capability of drones, there are many use-cases including firefighting, agriculture, search-and-rescue, medical delivery, and logistics. Performing these missions autonomously will increase safety and reduce cost.



Hybrid Propulsion for Next Gen Aircraft

Parallel Flight’s core Parallel Hybrid technology can be customized for next generation aircraft. We are partnering with LIFT Aircraft to develop a hybridization solution for Lift’s HEXA platform, which is currently all-electric. 


HEXA's 2019 test flight as featured in Reuter's


HEXA currently flies for less than 15 minutes but will be able to fly for hours once hybridized with our technology. 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.

The Market


$10B, $20B, and $65B Markets

The market for wildland firefighting is $10B in the USA, Canada, and Australia and is growing by around 10% per year (source).The healthcare logistics sector is estimated to reach $20B by 2025 and the industrial logistics market should reach $65B by 2025 (source). Our technology has the potential to transform all of these markets. It will enable heavy lift and long-range Beyond Visual Line of Sight (BVLOS) applications across multiple industrial logistics verticals, providing advanced solutions for infrastructure, renewable energy, construction, environmental protection, and remote logistics. In the complex healthcare logistics space, our technology will be ideal for the delivery of critical medication, vaccines, medical equipment, biospecimens, and equipment such as defibrillators. By partnering with companies across various industries, Parallel Flight can provide full-stack solutions to multiple worldwide markets.



We will begin by fighting wildfires


Our initial market is wildland firefighting support. Wildfires are an urgent public safety crisis that has been exacerbated by environmental problems. Every year, thousands become victims of wildfires and there is a constant search for new technology that will help combat these fires. Our UAS will provide enhanced proactive prescribed burn capabilities for fire prevention, as well as crucial staging and tactical resupply of hoses, tools, fuel, food, water, ect. for firefighting personnel on the front lines battling wildfires. Our aircraft will also be able directly drop water and retardants on or around spot fires when manned aircraft are grounded due to heavy smoke or during the night. Our UAS can perform the “dark and dangerous” missions that include low and slow flying operations, night operations, and low visibility operations through smoke or fog that put pilots and personnel of manned aircraft at highest risk.  Our goal is to provide the wildfire community with additional aerial support capabilities so that fire bosses can keep their aircrews safe.


*Aircraft is in prototype phase, Firefly is not currently available on the market



Our Traction


Global market penetration

*Aircraft is in prototype phase, Firefly is not currently available on the market.


Parallel Flight is on its way to penetrating a global market. Our pipeline has multiple customers worldwide, with signed LOI’s valued at $60 million in estimated revenue based on all orders being completed and fully executed.* Applications for our first customers include wildfire applications and industrial logistics missions.


*Please note that LOIs are not an official offer, are non-binding, and that all details would need to be negotiated and executed through a formal Purchase (or other) Agreement.

*Aircraft is in prototype phase, Firefly is not currently available on the market

In addition to private customers, we have received grants from NASA, NSF, and the USDA. Our 4th and most recent Federal Grant is a Phase II USDA grant for Parallel Flight to continue developing a large scale unmanned system for prescribed fire for land management and active wildfire fighting. Working with our payload partner we have made significant progress by designing a solution with 10x the acreage burn capabilities of existing prescribed burn solutions. This is a key land management tool for removing combustible fuels and preventing wildfires. It is also used for fighting wildfires by creating fire breaks. 


Annual federal spending on prescribed burning has averaged around $500 million through 2020 ( source), with potential to increase based on legislative initiatives and regulatory easing nationally, specifically in California ( source). Several helicopter pilots have tragically died over the years in these missions, so the agencies are beginning to use drones, but they need aircraft with larger payloads and longer flight times.


Parallel Flight is pursuing both the Prescribed Burn and Fire Suppression Market


International Operations


Parallel Flight plans on being an international drone service provider. We are currently forming a subsidiary, Parallel Flight Technologies Europe BV, in the Netherlands to serve customers in the European market. This organization is currently bidding on contracts with major wind power companies for servicing wind turbines. We will use our aircraft to deliver tools and supplies to the top of turbines during maintenance. Parallel Flight Europe is led by Chris Krajewski, a seasoned helicopter executive, with global operational experience.


Chris' career spans over 35 years in the aviation and energy markets, including 24 years at CHC Helicopters, one of the largest helicopter operators worldwide. During his time at CHC, Chris held senior leadership positions in the operations and commercial departments, directing business units in Brazil, Europe, Africa, the Middle East, Australia and Asia-Pacific. He led global business development initiatives with a focus on pursuit of diversification into new markets and spearheading initiatives to enter new verticals. Chris can open doors of opportunity on nearly every continent with contacts at the highest levels in aviation, oil and gas, offshore wind, and defense.


Partnerships


In tandem with key government partners, Parallel Flight is actively engaging with strategic Industry partners to address various needs spanning across multiple verticals. Here are some highlights:


Drone Amplified: Creator of IGNIS, the first drone-based aerial ignition system and the only drone-based plastic sphere dispenser (PSD) device approved for interagency (federal) use by the National Wildfire Coordinating Group (NWCG) . The latest version of  IGNIS (2.0) can burn about 250 acres while carried by a DoD Category 2 drone. IGNIS has been deployed on major fires in Oregon, Alaska, New Mexico and elsewhere with impressive results, dropping over a half million balls during the 2020 fire season. Drone Amplified has partnered with PFT under an active USDA Phase 2 grant to integrate a scaled-up version of IGNIS with Firefly to create a controlled burn solution capable of burning thousands of acres in a single flight.


Grayback Forestry: Located in Oregon and Montana, Grayback is a founding member of the National Wildfire Suppression Association and was the first private firefighting contractor to successfully deploy a drone-based aerial ignition system on a fire, IGNIS. Grayback has agreed to partner with Parallel Flight Technologies to develop and evaluate advanced simulation training capabilities for soon-to-be Firefly pilots.


Island Conservation Group: Headquartered in Santa Cruz, CA, the IC is an international non-profit that is on the front lines of preventing extinctions and working to expand the boundaries of island conservation efforts worldwide. Parallel Flight is enthusiastic to work with IC to pioneer drone-based applications that enable safer and more effective methods to protect endangered island species from the threats of invasive species.


Colorado Center of Excellence: Known as the go-to research and development team for projects across the public safety service spectrum, The Center of Excellence for Advanced Technology Aerial Firefighting (CoE) drives technological advancements to improve firefighting practices and influence innovation across the public safety community. CoE has agreed to partner with Parallel Flight Technologies to develop and evaluate advanced simulation training capabilities for soon-to-be Firefly pilots and support the safe introduction of the transformative technology to the fire fighting community.


SkyTEM Surveys: Headquartered in Denmark, SkyTEM is a leading airborne geophysical survey company focusing on the detection of subtle variations in conductivity/resistivity, making it possible to deliver accurate high resolution images of alternations in the Earth. Parallel Flight technology can be of assistance in sensors for aquifer and resource mapping.


Allied Disaster Defense: Allied Disaster Defense (ADD) offers long term fire retardant and home hardening solutions through applying Phos Chek and other innovative products designed to reduce or eliminate the cause of most property damage in wildfires. ADD's team of Wildfire Experts use their experience fighting and preventing fire to conduct risk assessments to ensure property is held at the highest standard from CALFire and the NFPA. ADD and PFT have begun exploring the use of UAS and innovative aerial fire  technologies to enhance the delivery of home hardening and risk reducing solutions to ADD customers.


Parallel Flight’s Unmanned Aircraft Systems are undergoing extensive testing


Parallel Flight drone executing a speed test trial at PFT headquarters



Our Unmanned Aircraft are undergoing extensive testing to ensure reliability and compliance with FAA certification requirements.

  • Dedicated flight crew flying autonomous missions twice a week
  • New test cell under construction to run 8X power modules continuously
  • Bringing in seasoned aviation professionals to ensure Safety & Quality as well as regulatory compliance


Test Engineer Chris Lee shows the 8X Module Test Cell, currently under construction



THE BUSINESS MODEL


We plan to sell our products using a recurring revenue model

Parallel Flight plans to make money by selling drone services, full-stack unmanned aircraft solutions, maintenance plans, operator training, customized propulsion systems, custom AI powered software solutions, and engineering services. Our initial customers are federal, state, and municipal agencies tasked with wildland firefighting, private contractors that provide wildfire services, healthcare and industrial logistics, and customers from other industries. Parallel Flight will provide drone service operations for customers who are buying Drone as a Service (DaaS) contracts. Aircraft purchased outright will have a service plan associated with the aircraft. Both the aircraft sales (with service contract) and contract models are planned sources of recurring revenue for Parallel Flight.


How We Are Different


Heavy payloads with long flight times

Our systems are designed around heavy lift applications which go beyond carrying sensors. One of our greatest advantages is flight time while carrying a heavy payload. Most other multi-rotor drones can only fly for 15 minutes with a maximum payload; we can fly for hours.


The lifetime cost of our hybrid system platform will also be less expensive than all-electric drones due to the large number of batteries they have to replace. Because of the high battery discharge current required for heavy-lift drones, batteries are limited to roughly 200 cycles or around 50 total hours of use. After this they need to be thrown out. Also, users of all-electric platforms buy multiple battery sets, expensive charging systems, and generators, but our customers will not incur these costs.

Relative cost of operating hybrid drones vs. all-electric


The Vision


The future of heavy lift

In three years, our goal is to be the leading global Drone as a Service provider, as well as the premier supplier of heavy-lift unmanned systems for heavy-lift wildfire and public safety applications, medical delivery, and industrial logistics. In the future we plan on scaling our technology for larger payloads up to 500lbs and using renewable fuels wherever possible for our hybrid systems. Finally, we plan to have subsidiaries globally that provide drone operation services, as well as drone service centers.


Our Leadership


Powertrain - Robotics - Machine Vision

CEO and co-founder Joshua Resnick led system architecture and electrical engineering for the Tesla Semi Truck program. Before moving to California, he led research for the State of Alaska developing hybrid commercial fishing boat technology.  He has been a radio control helicopter and airplane enthusiast since childhood.


Our founding team has core competencies in the key areas of hybrid powertrains, drone operations, control theory, machine vision, and robotics. We bring experience from Tesla, Verb Surgical, and the Navy.  We have brought in advisors related to our markets, business development, FAA compliance, and strategy.

Our Values - A message from the CEO, Joshua Resnick

Dear Investor,


At PFT, my co-founders and I are striving to build a company that will reflect our values for years to come.  We are doing this by applying our technology to use-cases that save lives, property, and the environment. 


Lives


Whether it is making firefighting safer and more effective, delivering supplies after a natural disaster, performing search and rescue, or bringing medical supplies to a remote village, our technology will be used to save lives in dangerous situations. 


Property


All of the founders of Parallel Flight have been directly affected by California’s wildfires. We all had to evacuate in 2020 during the CZU complex fire while firefighters struggled to save our homes and community. Over the past twenty years, wildfires have been getting steadily worse, but 2017 was a tipping point with the devastating fires in Santa Rosa and Ventura, CA. Then the 2018 fire season came. The Camp Fire destroyed the entire town of Paradise, CA - it killed 86 people and destroyed 18,804 structures. There was also the Mendicino Complex fire which burned almost half a million acres. In 2020, the August Lightning Complex fires burned more than 3 million acres in Northern California - the worst wildfires in the state’s history. This is not to mention the massive wildfires in Greece, Alaska, Australia and the Amazon. As of the time of this writing, nearly 1000 homes in Colorado have been destroyed by the latest wildfire. Parallel Flight Technologies is committed to developing new solutions to help mitigate this worldwide problem.


Environment


Ok, I admit it. I am green at heart! That's why I spent 5 years developing energy efficient power systems for fishing boats in Alaska, and why I joined Tesla in 2015 to lead the electrical engineering efforts for the Tesla semi truck. One of my core values is building technologies that reduce carbon emissions. So, why am I building a hybrid aircraft? Doesn't hybrid still mean petrol powered? In the case of firefighting, gasoline is the best option because it is already part of the firefighting supply chain. However, I am committed to carbon neutral fuels for all applications that are not life-critical.


I hope you will join us on this exciting journey to save lives, property, and the environment!


Sincerely,

Joshua Resnick, CEO - Parallel Flight Technologies 



Join us on our mission to save lives, property, and the environment.

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ABOUT

HEADQUARTERS
450 McQuaide Drive
La Selva Beach, CA 95076
VALUATION
$175.32M
PREVIOUSLY CROWDFUNDED
$7M

We’ve created proprietary Parallel Hybrid Electric Multirotor (PHEM) drone technology that allows drones to carry heavy payloads exponentially longer than current technology. This makes it ideal for use in fighting wildfires, search and rescue, medical, and logistics missions. Our unmanned, autonomous aircraft open new possibilities for the safety of first responders and many other commercial applications.

TEAM

Joshua Resnick
Joshua Resnick
CEO and President

Joshua brings a passion for groundbreaking technology and years of hybrid and electric powertrain expertise to Parallel. Prior to Parallel, he led system architecture and electrical engineering for the Tesla Semi Truck program. Before moving to California, he led state-funded research for the State of Alaska developing hybrid electric commercial fishing boats. When he is not designing the future, Joshua enjoys flying RC helicopters and hiking with his family

David Adams
David Adams
Director of Operations and Treasurer of the Board

David began his career aboard nuclear submarines and is an engineer qualified officer. Following this, he supported Naval research into drone swarms. After leaving the Navy, David focused his career on robotic systems integration and design. He has worked in both the semiconductor fabrication field and in surgical robotics. When he is not designing heavy lift drones, David enjoys snowboarding and camping with family and friends.

Bobby Hulter
Bobby Hulter
Director of Software and Controls and Secretary

Bobby has a broad background spanning physics as well as several engineering disciplines. His main focus has been on machine vision and software. He has applied these skills to industrial robotics systems for solar cell manufacturing. Bobby's primary job is engineering solar manufacturing robotics, he currently devotes 20 hrs per week at Parallel. He will be full time when we have raised sufficient funds. When he is not writing code for heavy lift drones, he enjoys camping with his family. 

Mark Bathrick

Mark Bathrick

Adviser

Mark is a retired senior executive who developed and directed the U.S. Department of the Interior’s award-winning “Drones for Good” program. He recently retired as the Director of the Office of Aviation Services for the Dept. of the Interior. He is a recipient of the 2017 Commercial Drone Alliance Industry Heroes Award and was listed in 2018 by Commercial UAV News as a Top 7 Drone Visionaries. Mark is also a Top Gun graduate and former test pilot for the Navy with 30+ years of UAS testing, acquisition, management, and operations experience. 

Chris Krajewski

Chris Krajewski

Adviser

Krajewski’s career spans over 35 years in the aviation and energy markets, including 24 years at CHC Helicopters, one of the largest helicopter operators worldwide. Chris has held senior leadership positions in the operations and commercial departments for CHC Helicopters and Heliconia Group, directing business units in Brazil, Europe, Africa, the Middle East, Australia and Asia-Pacific. Additionally, he has led global business development initiatives with a focus on pursuit of diversification into new markets. Most recently, he founded Vertical Solutions, an aerospace consulting and advisory firm.

Ret. Chief Scott Watson

Ret. Chief Scott Watson

Adviser

Scott devoted close to 40 years in the fire service, starting with the US Forest Service and retiring from CAL FIRE as a Battalion Chief. As an aerial firefighter, he has over twenty years in tactical helicopter operations.

Dorian West

Dorian West

Technical Adviser

Dorian brings 25 years of engineering experience developing complex electromechanical systems. He was an early employee at Tesla and held leadership roles for 15 years, spanning battery engineering, powertrain system development, and vehicle prototyping. He has a passion for sustainability, and he recently launched his own startup focused on decarbonizing the industrial sector.

Al Schoepp

Al Schoepp

Technical Adviser

Al Schoepp has over 35 years of experience in product and technology development, previously holding lead engineering roles in the semiconductor industry. He recently retired from his Senior Technical Director role at LAM Research after spending 29 years at the company focusing on new product development and semiconductor equipment development.

Aidan Joyce

Aidan Joyce

Chief Legal Officer (Part-Time)

Aidan Joyce brings extensive experience in providing legal counsel to global organizations. Aidan has worked with aviation and technology companies in various global locations who are active in the rotary; fixed-wing; and engine spaces. Previously serving as Vice President, Legal at CHC Helicopters, he has supported government organizations with aviation OEM requirements, worked in the finance group of a large international law firm, and acted for a range of domestic and international clients. *Currently a part-time role.

Russel Hill

Russel Hill

Chief IP Counsel

Russ brings 25+ years experience as an international law firm partner and in-house legal and compliance executive. He's been the chief IP counsel at Lenovo, CHC Helicopter and Logitech. At the latter two, Russ also served as deputy general counsel and chief compliance officer.
*This is currently a part time role at PFT

Kasey Krape

Kasey Krape

Parallel Flight Fellow

Kasey brings experience from Tesla as a Senior Manager of Global Inside Sales, Global Customer Experience, and senior staff manager for Strategy and Business Development for the Tesla Semi Truck program. She currently is a Sr. PM for Retail Operations and Global Product Launch at Apple.

Mike DelPrete

Mike DelPrete

Parallel Flight Fellow

Mike is an experienced entrepreneur having founded and successfully sold Agora Studios. Following this he led strategy and then became Head of Ventures for Trade Me. Today he is an advisor to tech companies worldwide.

Shannon Knudsen

Shannon Knudsen

Director of Strategic Projects

Shan has over 14 years of experience helping small businesses, non-profits, and universities procure and manage funding from myriad sources, including a proven track record winning SBIR/STTR funding, including 4 SBIR's for Parallel Flight. 

Scott Allen

Scott Allen

Staff Mechanical Engineer

Scott has more than 30 years of industrial design experience, with an extensive background designing cars, car parts, motorcycles and other vehicles for Yamaha, Polaris, Jaguar, Mercedes and VW. He has also worked on space shuttle designs with NASA. 

Paul Kele

Paul Kele

Sr. Mechanical Engineer

Paul has nearly 20 years of mechanical and product engineering experience with a wide background in thermoplastics and injection molding. He is a graduate of San Jose State University and has a broad understanding of fabrication and design for manufacturing.

Chris Lee

Chris Lee

Sr. Test Engineer

Chris has a strong background in mechanical design, system testing, quality control and manufacturing engineering. He is a graduate of Cal Poly University and recently held senior engineering roles in the renewable energy and semiconductor industries. 

Gregory Bringedahl

Gregory Bringedahl

UAV Prototype Lead Technician

Greg is an aviation maintenance professional with over 10 years of experience, which he gained in the field from the US Air Force and as a civilian DOD contractor. He has an extensive background in manned aircraft maintenance and over 2,500 hours of drone flight experience.

Sarah Abdi

Sarah Abdi

Marketing and Communications Manager

Sarah has a passion for revolutionary technology. Experience across multiple marketing disciplines in the Aerospace sector and a keen awareness for market needs, she leverages her background in strategic communications to showcase products and technology in the right light.  

James Penny

James Penny

Manufacturing Operations Lead

Jim is an expert in supply chain and production management, with over 25 years of hands-on experience planning and deploying production for a range of products. He recently worked in the unmanned space developing scaled operations for underwater ROV drones.

Seth McGann

Seth McGann

Test Engineer

Seth enjoys working on electronics prototyping, embedded systems, data acquisition and analysis. He is also a very experienced coder with deep firmware experience. {Needs revisioning}

Luis Barragan

Luis Barragan

Electrical Engineer

Luis is a recent graduate of the University of California, Santa Cruz, with a Bachelors in Electrical Engineering. At UCSC, Luis was part of the university's first FSAE program and CubeSat program.

Maxwell Kauker

Maxwell Kauker

Mechanical Engineer

Max is a graduate of Embry-Riddle Aeronautical University, holding a degree in Mechanical Engineering with a concentration in propulsion. He was a member of the university's rocketry club and previously interned at PFT. 

Noah Perez

Noah Perez

Aerospace Engineer

Bio: Noah is a recent graduate of San Jose State university with a bachelors degree in aerospace engineering. During his studies, he focused on projects concerning control systems, rocketry, and formula SAE. 

Sara Lunsford

Sara Lunsford

Business Project Manager

Sara has an extensive background in business operations and bookkeeping, with over 15 years of experience in project management roles. She supports accounting, human resources and business development projects for PFT. 

TERMS

Parallel Flight Technologies
Overview
PRICE PER SHARE
$22.60
DEADLINE
Jun 29, 2022
VALUATION
$175.32M
AMOUNT RAISED
$1,299,165.55
Breakdown
MIN INVESTMENT
$497.20
MAX INVESTMENT
$106,988.40
MIN NUMBER OF SHARES OFFERED
442
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Class B Common Stock
MAX NUMBER OF SHARES OFFERED
221,237

Maximum Number of Shares Offered subject to adjustment for bonus shares


Company

:

Parallel Flight Technologies, Inc.

Corporate Address

:

450 McQuaide Drive, La Selva Beach, CA 95076

Offering Minimum

:

$9,989.20

Offering Maximum

:

$4,999,956.20

Minimum Investment Amount

(per investor)

:

$497.20











Terms


Offering Type

:

Equity

Security Name

:

Class B Common Stock

Minimum Number of Shares Offered

:

442

Maximum Number of Shares Offered

:

221,237

Price per Share

:

$22.60

Pre-Money Valuation

:

$175,318,370.00











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Company Perks*

Time-Based Perks

Friends and Family Early Birds

Invest within the first 48 hours and 15% Bonus Shares.

Super Early Bird Bonus

Invest within the first week and receive 10% Bonus Shares.

Early Bird Bonus

Invest within the first two weeks and receive 5% Bonus Shares.

Amount-Based Perks

Tier 1 | $2,000+

Invest $2,000+ and receive 2% Bonus Shares.

Tier 2 | $5,000+

Invest $5,000+ and receive 5% Bonus Shares.

Tier 3| $10,000+

Invest $10,000 and receive 10% Bonus Shares.

Tier 4 | $25,000+

Invest $25,000 and receive 15% Bonus Shares.

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Parallel Flight Technologies, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Common Stock at $22.60 / share, you will receive 110 Class B Common Stock, meaning you'll own 110 shares for $2260. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Insider Investment Notice

Officers, directors, executives, and existing owners with a controlling stake in the company (or their immediate family members) may make investments in this offering. Any such investments will be included in the raised amount reflected on the campaign page.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments.

PRESS

Article Image
The Weather Channel

Inventing a Better Way to Fight Fires

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Fire Aviation

Parallel Flight Technology nearing completion of their Beta model

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Santa Cruz Tech Beat

Are Parallel Flight Technologies’ drones being used to start fires?

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sUAS News

Former Tesla Director of Engineering and Former LAM Research Technical Director Join Parallel Flight Technologies’ Advisory Board

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Monterey Bay Drones Automation & Robotics Technology

2019 Monterey Bay DART Symposium Highlights Reel










ALL UPDATES

11.13.22

Q3 Investor Update from the Hive!

Dear Investors, 

I keep saying, where did the time go? Yet, here we are…three quarters of the way through the year - and it’s literally flying by! Since our last update, the Parallel Flight team continues to work diligently to fine tune our Firefly product sample 1, forge key commercial partnerships and lay critical groundwork for the expansion of our operations, globally. We’re all really excited about the big steps we’ve made thus far and the future steps to come.

As global organizations, spanning mega/large cap, mid-size business & government all look to increase operational efficiency, improve bottom line, and reduce carbon footprint, we’ve seen a big need across many industries for our UAV solutions. We are in active discussions with these organizations to explore deployment of PFT’s scalable platforms across various industrial use cases. 

With progress come challenges, and I know this firsthand from my time at Tesla. This is the name of the game when developing and testing cutting edge technology. The broader aviation industry, including us, is facing several problems stemming from the continued impacts of the Covid-19 pandemic and the current volatile geopolitical and economic conditions. Increased demand for chipsets and other resources, labor shortages, port congestion, and the ongoing war in Ukraine have led to unparalleled levels of supply chain disruption/constraints and increased economic inflationary pressures. This has had an impact on our aircraft testing schedule, and the PFT team is committed to balancing the impact of these pushouts, to the best of our abilities. One of the positives of being a small business is maneuverability, and so we’ve done just that, shifted so that we can continue making progress with rigorous testing of Firefly and our production Parallel Hybrid power module. 

Of course, I can’t go without expressing our gratitude for your support throughout this journey. Some of you have been with us since the beginning, when Parallel Flight Technologies was just a wild idea in my head. Without our investors, we truly would not be able to accomplish our mission to pioneer intelligent hover and vertical lift UAV solutions to save lives, property, and the environment. 

In the coming weeks, our team will have some exciting news to share, so if you’re not already, make sure to subscribe to our email list, follow us on Linked In, Instagram, Facebook, and Twitter. 

Sincerely,

 



Joshua Resnick, CEO

A core business strategy for Parallel Flight is thought leadership amongst the UAS and Advanced Air Mobility (AAM) communities. This past quarter, Joshua has hit the road to share his knowledge and vision about the future of flight.

Joshua sat on the “Delivering on Freight” panel at Revolution.Aero, a premier conference aimed to bring together disruptors, dreamers, policymakers, investors and others that are shaping the Fourth Aviation Revolution. With co-panelists, from DRONAMICS and Elroy Air, Joshua shared how PFT’s flagship UAS, Firefly, is designed as a scalable heavy-lift workhorse to increase efficiency and availability of vertical lift operations, by autonomously carrying out critical missions for customers across several industries. 

Joshua was also invited to speak at the Federal Laboratory Consortium Industry + Tech event on UAS for wildlife and landscape management. These discussions directly tied in with PFT’s continued work with USDA, Island Conservation and other partners to customize our platform to meet critical environmental, wildland and wildlife management needs.

Lastly, Joshua’s participation was requested by the American Society of Agricultural and Biological Engineers (ASABE), to share PFT’s story on transforming engineering innovation into product through SBIR.
 

**On September 29th, the U.S. Congress officially reauthorized the extension of the SBIR/STTR program. This is an important win for the forefront of technology innovation, including PFT as we continue to pursue non-dilutive funding for future initiatives**

Since its inception, Parallel Flight was founded as a company focused on public good. As such, we’ve set out to address a technology gap across multiple verticals, while saving lives, property and the environment.

The environment: the adoption of Parallel Flight’s UAV’s, has the potential to make the environment healthier by drastically reducing carbon footprint of industrial operations like maintenance of wind farms, inspections, construction and even pest-eradication. We’ve designed our core-technology to be compatible with biofuels and SAF’s (Sustainable Aviation Fuel) for near net-zero emissions. This will enable accelerated adoption by driving >90% reduction in carbon vs. helicopters. 

This is just a small portion of how Parallel Flight is on the path to impact the world’s most pressing sustainability challenges.

Hybrid vs. All-electric for Vertical Lift - A Counterintuitive Carbon Conundrum 

It is a bit counterintuitive, but hybrid systems for industrial vertical lift are far greener than all-electric systems both in terms of CO2 emissions and battery waste. How can this be? There are a few pieces of this equation:

  • For large-scale operations in the field large using all-electric heavy lift drones, large generators and battery charging systems are needed. The energy in this case comes from fuel running a generator, and emits CO2. For our Parallel hybrid systems the fuel is used around 20% more efficiently than having a battery charged by a generator.

  • Heavy lift electric drones discharge batteries more aggressively than almost any other battery powered system - virtually at the limit of their discharge capability. This means that unlike your Tesla, these batteries will only last between 100 and 200 cycles before they are significantly degraded. Our analysis shows that all-electric systems create approximately 370X more battery waste than our Parallel Hybrid system. 

  • Field operations require several sets of large, heavy batteries per drone. This means bigger trucks for field operations, more staff, and constant battery swapping.

Among many challenges, vertical lift operations today face low asset utilization. This is mainly due to frequent maintenance downtime, long turnaround cycles, and regulated crew schedules. 

The modular architecture of PFT’s vertical lift UAS has far fewer failure points compared to traditional rotary wing systems, making it safer and easier to maintain. We designed these modules to quickly be swapped for new units, and then serviced by PFT in a regional center for remanufacturing - a true ode to Parallel Flight’s efficient, low-waste manufacturing focus. This means super-fast maintenance cycles, maximizing aircraft serviceability and uptime. We call this “Zero-Downtime” maintenance. 

PFTs Zero-Downtime maintenance plans will be sold with each of our systems. This will help us achieve a common goal with our customers: ensuring that maintenance is covered with minimal downtime, in an effort to support the improvement of their bottom line.

06.28.22

ONLY HOURS LEFT TO INVEST IN PARALLEL FLIGHT TECHNOLOGIES!

THIS MAY BE YOUR LAST CHANCE TO BE A PART OF THE FUTURE OF VERTICAL LIFT TECHNOLOGY. JOIN OVER 5000+ INVESTORS TODAY!


ONLY 1 EXCLUSIVE INVESTOR WEBINARS LEFT!

This webinar is a small, private event with only 35 seats available. This is a great opportunity to ask questions directly to CEO, Joshua Resnick. We ask participants to have cameras on! Join via link below.

Tuesday, June 28th @ 5pm: Close Out Town Hall

06.28.22

THE CLOCK IS TICKING...1 DAY LEFT

DON'T MISS YOUR CHANCE TO BE A PART OF THE FUTURE OF VERTICAL LIFT TECHNOLOGY. 

JOIN OVER 5000+ INVESTORS TODAY!


ONLY 2 EXCLUSIVE INVESTOR WEBINARS LEFT!

These webinars are small, private events with only 35 seats available per session. This is a great opportunity to ask questions directly to CEO, Joshua Resnick. We ask participants to have cameras on! Register via links below. 

Tuesday, June 28th @ 9am: Close Out Town Hall

Tuesday, June 28th @ 5pm: Close Out Town Hall

06.26.22

ONLY 2 DAYS LEFT TO INVEST!

Join 5000+ Investors, and don't miss your chance to be a part of a company poised to disrupt major market segments that total $140B+!

06.25.22

3 DAYS LEFT TO INVEST!

THIS MAY BE YOUR LAST CHANCE TO BE A PART OF THE FUTURE OF VERTICAL LIFT TECHNOLOGY. JOIN OVER 5000+ INVESTORS TODAY!



LIMITED SEATS LEFT FOR PFT's UPCOMING WEBINARS

 As a valued Investor and follower of PFT, you're invited to a series of exclusive webinars. These webinars are small, private events with only 35 seats available per session. This is a great opportunity to ask questions directly to CEO, Joshua Resnick. 

Monday, June 27th @ 12pm: Exclusive Town Hall

Tuesday, June 28th @ 9am: Close Out Town Hall

Tuesday, June 28th @ 5pm: Close Out Town Hall

06.22.22

Want to know more about PFT's Technology Stack?

Join 5000+ Investors, and don't miss your chance to be a part of a company poised to disrupt major market segments that total $140B+!


Did you miss the PFT Technology Stack Deep Dive? 

Check out the recording to learn more about PFT's multiple revenue streams.


06.19.22

Over $1MILLION Invested in Parallel Flight!


Parallel Flight Technologies' Regulation CF Offering has reached a huge milestone, with over $1,000,000 raised! Thank you to the investors who have supported our mission, to deliver autonomous vertical lift systems to save lives, property, and the environment.

This fundraising milestone aligns with key company initiatives for Parallel Flight, as we continue on the path towards commercialization. We can't wait to share more exciting updates in the weeks to come!

Haven't invested in our Regulation CF offering?
LESS THAN 2 WEEKS LEFT TO INVEST IN PARALLEL FLIGHT!
This may be the last opportunity to be a piece of a company poised to disrupt major market segments that total $140B+


INVEST NOW!

06.17.22

A peek inside of PFT's Advanced Simulation Capabilities

Parallel Flight - Advanced Simulation Capabilities

Technology development can be extremely costly and require major engineering time commitments. This especially proves true when it comes to testing physical systems or hardware. At Parallel, we have taken an approach that relies heavily on simulation to reduce these costs and streamline development.

One valuable method of simulation is Hardware-in-the-Loop (HIL) simulation, a technique that is used for testing complex real-time embedded control systems. This type of testing provides an effective testing platform and acts as a stepping stone between testing a completely simulated system and a fully integrated system. 

Partially developed with funding from an NSF SBIR Phase 1 award, advanced HIL capabilities allow us to test parts of our overall flight system while simulating the other components. One example of the benefit of HIL testing for PFT is the ability to verify autopilot functionality in a simulated environment (flight simulator), without having to physically fly our aircraft - reducing engineering time and costs significantly. This is achieved by simulating the dynamics of our aircraft with a closely accurate physics model, while communicating simulated physics data to the flight controller via a wired connection from the simulator. This ultimately allows for more rapid development in a parallel fashion as opposed to testing all flight components in series which requires more time and includes more risk.

Since PFT’s propulsion technology is so novel, simulation and control capabilities that can adequately assess or represent the performance and behavior of our architecture in flight did not yet exist. To address this gap in technology, the team at PFT has developed in-house HIL capabilities and plans on continued advancement of these capabilities. 

Current plans include HIL testing PFT engines with 20 hours of run-time, before putting the real aircraft to test in the field. These hours are a crucial element for discovering/resolving software bugs and hardware issues so that when the aircraft does take off, there is full confidence that the system as a whole will perform to engineering specifications.

In addition, as a part of Parallel Flight’s customer success program, customers will be offered advanced flight simulation in order to de-risk the trial and acquisition process, and test complex mission scenarios. Safe flight trials will allow customers to test and experience the full scope of PFT’s vertical lift capabilities extensively, ultimately reducing personnel time and cost.

Less than 2 weeks to Invest in Parallel Flight Technologies!

This may be the last equity crowdfunding raise - Don't miss out on a company poised to disrupt major market segments that total $140+ billion.

06.16.22

This Is Your Chance!

With under 2 weeks left of Parallel Flight Technologies' RegCF, we are excited to share a series of upcoming webinars. As a valued Investor and follower of PFT, you'll have a chance to hear about the latest company updates, and take deep dive with us on several topics.

These webinars are small, private events with only 35 seats available per session. Meet fellow investors and fans of Parallel Flight and take the opportunity to ask questions directly to CEO, Joshua Resnick. 


Space is limited, register today to save your seat!

Tuesday, June 21st @ 1pm: PFT Technology Stack Deep Dive

Monday, June 27th @ 12pm: Exclusive Town Hall

Tuesday, June 28th @ 9am: Close Out Town Hall

Tuesday, June 28th @ 5pm: Close Out Town Hall

06.15.22

Did You Miss the Key Vertical Deep Dive??

Did you miss the latest Investor Webinar? CEO, Joshua Resnick, shared latest company news and a Deep Dive into Parallel Flight's key market segments.

  Check out the recording below!  


The Clock is Ticking...










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