Parallel Flight Technologies

Saving lives, property, and the environment

Parallel Flight Technologies

Saving lives, property, and the environment

La Selva Beach, CA
Technology
We’ve created patent-pending drone technology that will allow drones to carry heavy payloads for over two hours. This will make it ideal for use in fighting wildfires, search and rescue, and logistics missions. Our unmanned, autonomous aircraft open new possibilities for the safety of first responders and many other commercial applications.

$63,618

raised
69
Investors
$28.7M
Valuation
$4.67
Price per Share
$499.69
Min. Investment
Common
Shares Offered
Equity
Offering Type
$7.5M
Offering Max
Reg A+
Offering

$63,618

raised
69
Investors
$28.7M
Valuation
$4.67
Price per Share
$499.69
Min. Investment
Common
Shares Offered
Equity
Offering Type
$7.5M
Offering Max
Reg A+
Offering

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$1,000+
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Executive Perk
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Offering Circular | Selected Risks Related to this Offering | Parallel Flight Technologies' SEC EDGAR Page


For more information on Parallel Flight Technologies, download and review the Offering Circular. The Offering Circular should be reviewed before making an investment decision.

Reasons to Invest

Large Market Potential: Operating between 3 large industries. $15B Urban Air Mobility + $33B Commercial Drone + $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
Innovative Technology: NASA, NSF and USDA funded, 10X longer flight time with a heavy payload vs. existing technology for unmanned aircraft

“Heavy Lift +10X Longer Flight Time”

Video

Success since our last raise

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

  • We have increased customer traction with deployments planned 2021.
  • 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. 

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 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 drone can fly for hours with a heavy payload

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.  

Video

the market


$10B, $15B, and $33B Markets

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. 

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 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.

video

video

Our unmanned aircraft can fly the equipment to a drop point.

Our traction


On the cusp of commercialization

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.

video

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.

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. 

The Business model


We plan to sell the product at high margins, using a recurring revenue 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. 


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


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 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


The future of heavy lift

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


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 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. 

Our Values - A message from the CEO, Joshua Resnick

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


Our innovations have led to partnerships with NASA, NSF, and USDA

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.

We are engaging our customers and communities

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.

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

Invest Now!

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.

In the Press

Commercial UAV News
January 1, 2017

How Will Extended Flight Time for Drones be Powered?

Monterey Bay Drones Automation & Robotics Technology
January 1, 2017

2019 Monterey Bay DART Symposium Highlights Reel

Arctic Innovation Competition
January 1, 2017

2018 Main Division Winners

Commercial UAV News

Parallel Flight Technology Has Lift Off!

Inside Unmanned Systems

Parallel Flight Technologies’ Hybrid Technology Helps Heavy Lift Multirotors Go the Distance

Fire Aviation

Parallel Flight Technology’s next drone model will be able to carry 100 pounds for hours

Updates

We're Back!

6 days ago



The wait is over... Parallel Flight Technologies' Regulation A+ Offering is officially LIVE on StartEngine!


Now is your chance to invest in innovative drone technology that can save lives, property and the environment. This is our most ambitious crowdfunding campaign to date and an opportunity to join our dedicated group of investors who are accelerating our path to commercialization.


Join us in taking PFT to the next level!


This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.


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