INVEST IN PARALLEL FLIGHT TECHNOLOGIES TODAY!
*Aircraft is in prototype phase, Firefly is not currently available on the market.
Since our last offering, Parallel Flight has reached multiple milestones:
Addition of new team members + advisors:
*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
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 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 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.
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
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.
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
*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
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.
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 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.
Test Engineer Chris Lee shows the 8X Module Test Cell, currently under construction
THE BUSINESS 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
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
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
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.
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
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.
Mark Bathrick
Adviser
Chris Krajewski
Adviser
Ret. Chief Scott Watson
Adviser
Dorian West
Technical Adviser
Al Schoepp
Technical Adviser
Aidan Joyce
Chief Legal Officer (Part-Time)
Russel Hill
Chief IP Counsel
Kasey Krape
Parallel Flight Fellow
Mike DelPrete
Parallel Flight Fellow
Shannon Knudsen
Director of Strategic Projects
Scott Allen
Staff Mechanical Engineer
Paul Kele
Sr. Mechanical Engineer
Chris Lee
Sr. Test Engineer
Gregory Bringedahl
UAV Prototype Lead Technician
Sarah Abdi
Marketing and Communications Manager
James Penny
Manufacturing Operations Lead
Seth McGann
Test Engineer
Luis Barragan
Electrical Engineer
Maxwell Kauker
Mechanical Engineer
Noah Perez
Aerospace Engineer
Sara Lunsford
Business Project Manager
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 |
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.
01.19.23
Dear PFT Followers,
We recently showed some behind the scenes of what goes into 3rd party payload integration at PFT. Here is the next step - initial flight testing on our all-electric engineering platform.
In this case, the 3rd party payload is the IGNIS4K system, a powerful land management tool that will be used to execute prescribed fire both for land management and for active wildfire fights.
What were most excited about is that our hybrid system allows for an overall mission that is twice as fast, and requires half of the ground crew, as would be needed with an all-electric aircraft. Not only will it be able to ignite up to 1000 acres, but the drone will have the ability to land, load another round of (4000 spheres) in <5 minutes, and be back up in the air for another hour of work. That's what we call a workhorse!
In this video we are performing an autonomous pattern drop. The next step is moving this over to our hybrid platform, Firefly, for more testing.
Stay tuned! We will be sharing some exciting news, very soon!
Autonomously,
Parallel Flight Technologies
11.13.22
|
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
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.
06.28.22
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.
06.26.22
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
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
06.22.22
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
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+
06.17.22
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
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
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
Tier 1
Invest $2,000+ and receive 2% Bonus Shares.
Tier 2
Invest $5,000+ and receive 5% Bonus Shares.
Tier 3
Invest $10,000 and receive 10% Bonus Shares.
Tier 4
Invest $25,000 and receive 15% Bonus Shares.
0/2500
Cancel anytime before 48 hours before a rolling close or the offering end date.
We want you to succeed and get the most out of your money by offering rewards and memberships!
Your info is your info. We take pride in keeping it that way!
Invest in over 200 start-ups and collectibles!
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Important Message
IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. INVESTMENTS ON STARTENGINE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.
www.StartEngine.com is a website owned and operated by StartEngine Crowdfunding, Inc. (“StartEngine”), which is neither a registered broker-dealer, investment advisor nor funding portal.
Unless indicated otherwise with respect to a particular issuer, all securities-related activity is conducted by regulated affiliates of StartEngine: StartEngine Capital, LLC, a funding portal registered here with the US Securities and Exchange Commission (SEC) and here as a member of the Financial Industry Regulatory Authority (FINRA), or StartEngine Primary, LLC, a broker-dealer registered with the SEC and FINRA/SIPC . You can review the background of our broker-dealer and our investment professionals on FINRA’s BrokerCheck here. StartEngine Secondary is an alternative trading system regulated by the SEC and operated by StartEngine Primary, LLC, a broker dealer registered with the SEC and FINRA. StartEngine Primary, LLC is a member of SIPC and explanatory brochures are available upon request by contacting SIPC at (202) 371-8300.
Investment opportunities posted and accessible through the site are of three types:
1) Regulation A offerings (JOBS Act Title IV; known as Regulation A+), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Primary, LLC (unless otherwise indicated). 2) Regulation D offerings (Rule 506(c)), which are offered only to accredited investors. These offerings are made through StartEngine Primary, LLC. 3) Regulation Crowdfunding offerings (JOBS Act Title III), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Capital, LLC. Some of these offerings are open to the general public, however there are important differences and risks.
Any securities offered on this website have not been recommended or approved by any federal or state securities commission or regulatory authority. StartEngine and its affiliates do not provide any investment advice or recommendation and do not provide any legal or tax advice with respect to any securities. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. StartEngine does not verify the adequacy, accuracy or completeness of any information. Neither StartEngine nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, or completeness of any information on this site or the use of information on this site. See additional general disclosures here.
By accessing this site and any pages on this site, you agree to be bound by our Terms of use and Privacy Policy, as may be amended from time to time without notice or liability.
Canadian Investors Investment opportunities posted and accessible through the site will not be offered to Canadian resident investors. Potential investors are strongly advised to consult their legal, tax and financial advisors before investing. The securities offered on this site are not offered in jurisdictions where public solicitation for offerings is not permitted; it is solely your responsibility to comply with the laws and regulations of your country of residence.
California Investors Only – Do Not Sell My Personal Information (800-317-2200). StartEngine does not sell personal information. For all customer inquiries, please write to contact@startengine.com.
StartEngine’s Reg A+ offering is made available through StartEngine Crowdfunding, Inc. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view StartEngine’s offering circular and risk associated with this offering.