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Large Market Potential: Operating between 3 large industries. $15B Urban Air Mobility + $33B Commercial Drone + $10B Wildfire Suppression markets
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Since our last offering, Parallel Flight has reached multiple milestones:
We have designed the new hybrid power module for the Beta aircraft and have been testing for several months.
Under a NASA grant, we successfully completed the development of a redundancy system that will provide a safety advantage over other technologies.
Under an NSF grant, we have developed computer models of our aircraft system to validate control algorithms.
We were awarded a grant from the USDA for the development of a large scale platform for controlled ignition (preventative burns and firebreak burns).
We filed two additional provisional patent applications for our key algorithms and the safety mechanism developed under NASA.
We continued to grow our team by bringing all co-founders on as full-time employees and hiring a mechanical engineer, business operations manager and communications lead.
*Actual Product - Not A Model
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 can’t carry 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 and other applications, but the existing solutions are too limited in terms of flight duration and payload.
the solution
Our new Parallel Hybrid technology is a 10X improvement over existing solutions in terms of flight-time with a heavy payload. Our Parallel Hybrid system increases efficiency and eliminates a heavy generator component 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.
*Actual Product - Not A Model
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the market
The market for wildland firefighting is $10B in the USA, Canada, and Australia and is growing by around 10% per year.[1] The commercial drone sector is estimated to reach $33B by 2022[2] and the Urban Air Mobility market should reach $15B by 2030.[3] Our technology will have important verticals in all of these markets. In the commercial drone industry, our technology will enable logistics missions, Beyond Visual Line of Sight (BVLOS), heavy sensor payloads, and long hover missions. In the Urban Air Mobility space, our technology will be ideal for developing air ambulances, which have been identified as a technology better suited to hybrid technology. 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 drone technology will help firefighters by bringing them supplies such as tools, fuel, food, water, etc. while they are in the field. It will also be able to perform controlled burns, which is an important tool for fighting wildfires. Our aircraft will also be able directly drop water on spot fires when manned aircraft are grounded due to heavy smoke or during the night.
.Bringing tools, such as chainsaws, to firefighters in the field can save time so they don't have to hike back to basecamp.
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Our unmanned aircraft can fly the equipment to a drop point.
Our traction
Parallel Flight is on the cusp on commercialization. Our beta pipeline has multiple customers worldwide, with aircraft deliveries planned to begin in mid 2021. Applications for our first customers include wildfire applications, powerline construction, and heavy sensor payloads.
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In addition to private customers, we have received grants from NASA, NSF, and most recently from the USDA. This latest grant is for us to begin developing a large scale unmanned system for controlled ignition. 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. The US spends hundreds of millions each year on controlled burns. Several 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 developing a large-scale controlled burn platform in partnership with Drone Amplified through funding from the USDA.
Our beta-level aircraft is now under construction at PFT
Our product has evolved from a prototype to a production-intent aircraft featuring:
Compact Hybrid Power Module Design
Large Cargo Volume
Lightweight Carbon Fiber Body
Shock Absorbing Landing Gear
All-Weather Flight Capability
The target maximum payload for our beta level aircraft is 100 lbs, not including fuel.
*Actual Product - Not A Model
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.
The Business model
Parallel Flight plans to make money by selling full-stack unmanned aircraft solutions, service plans, operator training, and non-recurring engineering. Our initial target customers are federal, state, and municipal agencies tasked with wildland firefighting, private contractors that provide wildfire services, and customers from other industries. Aircraft purchased outright will have a service plan associated with the aircraft. In addition to aircraft sales, customers can also contract aircraft on an Exclusive Use or Call When Needed basis. Both the aircraft sales (with service contract) and contract models are planned sources of recurring revenue for Parallel Flight.
*Actual Product - Not A Model
In 2020, we completed the NSF's Innovation Corps (I-Corps™) program. This allowed us to connect with potential customers worldwide to better understand the scalability of our product and the potential of our customer base. We continue to integrate the feedback received through this program into our development strategy, and we have seen strong customer traction as a result.
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 drones can fly for 15 minutes with a heavy load; we can fly for hours. We expect our platform will also be less expensive than all-electric drones because of the large number of batteries they have to carry. Often users of all-electric platforms buy multiple battery sets, expensive charging systems, and generators, but our customers will not incur these costs.
the vision
In three years, our goal is to be the premier supplier of heavy-lift unmanned systems for heavy-lift public safety applications, such as firefighting and search-and-rescue. We will also have pilot programs underway for adjacent markets such as ship-to-shore, remote logistics, and agriculture. In the future we plan on scaling our technology for the Urban Air Mobility market for applications such as air ambulances.
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 building and flying RC planes and helicopters since he was 13. 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 market, business development, and strategy.
Dear Investor,
I am striving to build a company that reflects the values that my co-founders and I hold dear. We will do 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 can be used to save lives in life or death situations.
Property
As I write this letter, I am evacuated with my family, and firefighters on the CZU Complex fire are fighting to save my home 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. Parallel Flight Technologies is committed to developing new solutions to 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
Why invest
In a short time period, we have already created new technology and a working prototype. Our technology has expanded the performance envelope beyond the capability of competitive technologies. Because of this, we were awarded a NASA SBIR, Phase 1 grant and used this funding to continue prototype development. We have also received funding from NSF and the USDA for the development of our technology. PFT has one patent pending and two provisional patents around its core technology.
Building new technology is hard. But getting that technology deployed in the field is harder. At Parallel Flight Technologies, we are passionate about getting the word out to customers and the community about our technology and mission. We are also dedicated to learning from our customers about their pain points and discovering how we can help.
We deeply value community involvement and support. We have been overwhelmed by the response from our family, friends, and community. At speaking events, conferences, or just in conversation, people have shown tremendous support for our company and mission.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
WHILE THE COMPANY HAS SIGNED A QUOTATION AGREEMENT TO TRADE THE SECURITIES OFFERED ON STARTENGINE SECONDARY’S NEW ALTERNATIVE TRADING SYSTEM (THE “ATS”), A COMPANY WHICH INTENDS TO BE QUOTED ON THE MARKETPLACE WILL BE SUBJECT TO CERTAIN REQUIREMENTS WHICH THE COMPANY MAY OR MAY NOT BE ABLE TO SATISFY IN A TIMELY MANNER. EVEN IF A COMPANY IS QUALIFIED TO QUOTE ITS SECURITIES ON THE MARKET, THERE IS NO GUARANTEE AN ACTIVE TRADING MARKET FOR THE SECURITIES WILL EVER DEVELOP, OR IF DEVELOPED, BE MAINTAINED. YOU SHOULD ASSUME THAT YOU MAY NOT BE ABLE TO LIQUIDATE YOUR INVESTMENT FOR SOME TIME OR BE ABLE TO PLEDGE THESE SHARES AS COLLATERAL.
2019 Monterey Bay DART Symposium Highlights Reel
Parallel Flight Technologies’ Hybrid Technology Helps Heavy Lift Multirotors Go the Distance
Parallel Flight Technology’s next drone model will be able to carry 100 pounds for hours
Parallel Flight's Hybrid Power Modules are getting ready for takeoff
After months of meticulous testing, our Hybrid Power Modules are fully assembled and are being installed on our beta-level drone this week. We are now preparing for the first flight of our commercial-intent aircraft, an incredible milestone for PFT!
We look forward to sharing the first footage of our beta-level drone in flight with you soon. If you want to be a part of the Parallel Flight journey, you can own a stake in PFT by investing in our Regulation A+ offering.
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Parallel Flight Technologies is proud to offer a robust college internship program that provides extensive hands-on experience in drone integration and testing, all in a fast-paced startup environment. We wanted to introduce you to two of our current interns, Noah and Steven, who are sharing what they've learned through their internships at PFT.
Read the full story on our blog:
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NOAH PEREZ
Noah is an aerospace engineering student who joined Parallel Flight as a college intern in September 2020. As a senior at San Jose State University, Noah pursued this internship to hone his skills and gain additional engineering experience prior to his graduation. "I've really enjoyed being able to work alongside and learn from a brilliant set of people, helping them to reach goals that are critical to our success," he says. |
STEVEN SILVERGLATE
Steven was a summer intern at PFT before starting his senior year at San Diego State University, where he is an aerospace engineering major. When his fall classes were shifted from in-person to online learning, Steven returned home to the Santa Cruz area and resumed his internship at Parallel Flight. "I learn something new every day here," he says. "I really enjoy the culture and all of the opportunities for hands-on learning and strategic problem solving." |
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Do you know a local engineering student or recent grad who may be interested in an internship at Parallel Flight? Encourage them to apply on our website!
Parallel Flight Technologies to Participate in the Federal Aviation Administration’s BEYOND Program
Parallel Flight Technologies has been selected as an official partner of the Alaska Center for UAS Integration (ACUASI) at the University of Alaska Fairbanks, a Lead Participant in the Federal Aviation Administration’s BEYOND program. This partnership will allow PFT to demonstrate missions for the BEYOND program, which is focused on advancing unmanned aircraft systems operations in the National Airspace System.
Parallel Flight Technologies was selected to partner with ACUASI because of our advanced drone technology, which allows our unmanned aircraft to carry a 100-pound payload for over two hours. PFT will be working with ACUASI on demonstration missions in Alaska later in the year, with focus areas of remote medical delivery, remote and industrial logistics, and ship-to-shore.
“We are honored to be selected as an official partner of ACUASI for the BEYOND program,” said Joshua Resnick, CEO of Parallel Flight Technologies. “The data collected and shared through this partnership will help to inform regulations and policies for unmanned systems in the national airspace, which is absolutely critical for the future of drone technology. We look forward to demonstrating our drone’s unique capabilities with the assistance of ACUASI and are proud to participate in a program that will advance the UAS industry.”
Read the full story on our blog:
Weight lifting with drones...
it's all part of a normal day at Parallel Flight Technologies!
We continued heavy-lift testing with "The Big Mule" this week, this time lifting 100lbs of barbells. This is an important part of our grant work for the National Science Foundation, as these tests allow us to continually improve our controls and demonstrate max lift capability.
Flight tests with “The Big Mule” are not only important for our grant work; they are also a key step in developing and testing our drone propulsion technology for the beta-level aircraft. This test drone has the same size, mass distribution, key propulsion components, flight controller, and programming of our beta-level drone, so successful flights with "The Big Mule" bring us closer to liftoff with our new aircraft.
To learn more:
Our beta-level aircraft is nearly complete and will be ready for takeoff in a few short weeks. As we prepare to unveil this radical unmanned aerial system (UAS) to the world, we wanted to share an in-depth look at the fully-assembled drone with you:
This aircraft is a major leap forward from our prototype: a robust product that will undergo rigorous field testing and ultimately be sold to our early customers. Stay tuned for videos of this game-changing drone in flight in the coming weeks.
To learn more about our beta-level aircraft and how you can own a stake in Parallel Flight Technologies, check out our Regulation A+ campaign on StartEngine.
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Are PFT's drones being used to start fires?
Yes, and here's why:
Parallel Flight Technologies is currently running flight tests with our heavy-lift test drone, "The Big Mule," and the IGNIS system from Drone Amplified. This work is being done as part of our grant from the USDA, which was given to support development of a large-scale unmanned prescribed fire solution for the US Forest Service.
You can read more about this on our blog:
Watch this video to see a recent test flight:
What's next?
We'll be testing our beta-level drone with the IGNIS system in real-world conditions in the very near future, and we look forward to delivering a solution in 2021. You can help accelerate our path to commercialization and own a stake in PFT by investing in our Regulation A+ offering on StartEngine.
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Parallel Flight Technologies' Regulation A+ Offering has reached another huge milestone, with over $2,000,000 raised! Thank you to the more than 1,400 investors who have supported our most ambitious crowdfunding campaign to date.
This fundraising milestone aligns with huge company milestones for Parallel Flight, including the completion of our beta airframe and the final stages of testing for our hybrid power modules. We are weeks away from flight testing with our beta-level drone, and we can't wait to share its first flight with you.
Thank you for taking this journey with us!
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Parallel Flight Technologies has kicked off the new year with incredible company growth. Our first commercial product is nearly complete, we have continued to gain customer traction, and we have welcomed two new hires to our growing team.
Meet Greg and Max, the newest members of the Parallel Flight team. Since joining the company a few weeks ago, they have jumped right into supporting aircraft production on our beta-level drone. They each bring unique talent and experience to their roles and are helping us to build unmanned systems to save lives, property, and the environment.
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Greg Bringedahl
Lead Technician
Greg comes to Parallel Flight from Textron Systems, where he was deployed as a civilian contractor in support of US Forces. He led the day-to-day flight operations of a small site operating unmanned aircraft systems. Before flying UAVs, Greg was an aircraft mechanic in the United States Air Force. He is an FAA certified Airframe and Powerplant mechanic with over 10 years in aviation and more than 2,500 hours of drone flight experience. Fun Fact: After accepting his role with PFT, Greg had quite a move ahead of him! He relocated to the Santa Cruz area from Africa, where he was stationed as a contractor. |
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Max Kauker
Mechanical Engineer
Max is a recent 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 enjoys building his own rocket motors in his spare time. Previously, Max worked as a summer intern at Parallel Flight, where he focused on cooling shroud iteration as well as assembly procedures for the beta aircraft modules. Fun Fact: Max was recently featured on Discovery Channel's "Rocket Around the Xmas Tree" television show. He was approached for the show after posting a YouTube video of his family's unique holiday tradition: launching their Christmas tree with some of Max's homemade solid rocket motors. |
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Get to know the entire PFT team!
Test Flight: 100 Pound Lift with “The Big Mule”
Dear Investors,
We recently shared some videos with you featuring our full-scale electric test drone, “The Big Mule.” Flight tests with “The Big Mule” are a key step in developing and testing our drone propulsion technology, as this test drone matches the size and mass distribution of our beta aircraft, key propulsion components, flight controller, and programming.
Last week, we successfully completed some heavy payload dynamics testing with “The Big Mule,” flying it with 100 pounds of payload. Check out this video to watch one of the test flights:
Stay tuned for more test flight footage featuring our beta aircraft in the coming weeks!
Best,
Joshua Resnick, CEO
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Continued Customer Traction: Our LOI from Infravision
This month, Parallel Flight received its 12th LOI from an early partner company: Infravision. Based in Australia, Infravision is a technology company that specializes in developing innovative hardware and software solutions for industrial applications in energy transmission and distribution. The company is building technology to support the energy systems of the future, as Australia and many other countries transition from traditional energy systems to variable, renewable energy resources.
Infravision uses drones to string high-voltage power lines and is pursuing a partnership with Parallel Flight Technologies to leverage our drones’ heavy payload capacity and flight endurance. To date, Infravision has completed 13 commercial projects utilizing an electric drone, but these all-electric systems have significant limitations.
Photo of one of Infravision’s recent commercial projects utilizing an electric drone.
By partnering with Parallel Flight, Infravision will be able to scale its operation and utilize our technology to conduct a range of activities in the energy sector. Ultimately, Infravision aims to accelerate the adoption of unmanned systems to revolutionize the way renewable energy resources are connected to the world’s electricity grids.
A rendering of Parallel Flight Technologies’ drone inside Infravision’s TX system, a mobile container equipped with powerline for stringing.
Parallel Flight Technologies is proud to partner with Infravision for their powerline stringing solution, which will reduce human risk, reduce environmental impact and increase productivity in powerline stringing.
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Parallel Flight Technologies is on the cusp of commercialization, with plans to deliver drones to our first customers in 2021. You can help accelerate our growth and own a stake in PFT by investing in our Regulation A+ Campaign!
Thank you for your continued support as we prepare to deliver unmanned systems to save lives, property, and the environment.
This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
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