Parallel Flight Technologies

Saving lives, property, and the environment

Parallel Flight Technologies

Saving lives, property, and the environment

La Selva Beach, CA
Agriculture
Data/Analytics
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.

$244,614

raised
$7,475,055
previously crowdfunded
88
Investors
$175M
Valuation
$22.60
Price per Share
$497.20
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg CF
Offering

$244,614

raised
$7,475,055
previously crowdfunded
88
Investors
$175M
Valuation
$22.60
Price per Share
$497.20
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into Parallel Flight Technologies:

$497+
Investment
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.
Super Early Bird Bonus
Invest within the first week and receive 10% Bonus Shares.
3
days
5
hours
4
mins
38
secs
$2,000+
Investment
Tier 1
Invest $2,000+ and receive 2% Bonus Shares.
$5,000+
Investment
Tier 2
Invest $5,000+ and receive 5% Bonus Shares.
$10,000+
Investment
Tier 3
Invest $10,000 and receive 10% Bonus Shares.
$25,000+
Investment
Tier 4
Invest $25,000 and receive 15% Bonus Shares.

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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In the Press

Monterey Bay Drones Automation & Robotics Technology

2019 Monterey Bay DART Symposium Highlights Reel

SiliconValley.com

Heavy-duty drones take flight to combat California wildfires

The Weather Channel

Inventing a Better Way to Fight Fires

Fire Aviation

Parallel Flight Technology nearing completion of their Beta model

sUAS News

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

Santa Cruz Tech Beat

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

Offering Summary


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.

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.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$873,306.00 USD
$774,207.00 USD
Cash And Cash Equivalents
$817,928.00 USD
$769,181.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$158,218.00 USD
$55,164.00 USD
Long Term Debt
$11,764.00 USD
$248,000.00 USD
Revenues And Sales
$256,105.00 USD
$71,909.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$800.00 USD
$800.00 USD
Net Income
-$1,230,217.00 USD
-$274,519.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. 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. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Thank You Day 1 Investors!

3 days ago

Wow - A huge THANK YOU to our Day 1 Investors! We are thrilled you've decided to join us. 

Let's keep this momentum going and take Parallel Flight to the next level!


 [ONLY 24 HOURS LEFT TO BE A PART OF THE EXCLUSIVE GROUP OF FIRST 48 HOUR INVESTORS]

INVEST NOW TO ACCESS PERKS!


The wait is over...INVEST NOW in Parallel Flight Technologies NEW REG CF campaign!

4 days ago

INVEST WITHIN 48 HOURS FOR EXCLUSIVE PERKS!

The wait is over... Parallel Flight Technologies' Regulation CF Offering is officially LIVE on StartEngine. Now is your chance to invest in an innovative drone company with a mission to save lives, property and the environment.

PFT's Regulation CF Offering is an opportunity to join our dedicated group of over 5,000 investors, who have supported our efforts to Save Lives, Property, and the Environment. The aim for this campaign is to support our extensive aircraft and propulsion reliability testing, customer demos and aircraft certification efforts. 

Join us in taking PFT to the next level!

Show More Updates End of Updates

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