Parallel Flight Technologies
Saving lives, property, and the environment
Ben Lomond, 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.
$1,069,775
raised
1,448
Investors
0
Days Left
$1.40
Price per Share
$7.98M
Valuation
Equity
Offering Type
$294.00
Min. Investment
This offering ended on January 14, 2020 and is no longer accepting investments.
Bonus Rewards
Get rewarded for investing more into Parallel Flight Technologies
$294+
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.
$1,000+
Investment
Aluminum
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
$2,000+
Investment
Lithium - Includes 2% Bonus Shares
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
+ 2% Bonus Shares
$5,000+
Investment
Carbon - Includes 5% Bonus Shares
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
+ 5% Bonus Shares
$10,000+
Investment
Titanium - Includes 10% Bonus Shares
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
Invitation to our Beta Aircraft Unveil event and dinner with our executive team. Exclusive access to live flight demonstration!
+ 10% Bonus Shares
$25,000+
Investment
Graphene - Includes 15% Bonus Shares
All previous perks plus you get to load the drone with an object of your choice at the flight demo! Please keep the object (no children or animals) 50lbs or less!
+ 15% bonus shares
Reasons to Invest
Massive Market: Operating between 3 large industries. $87B Urban Air Mobility + $34B Commercial Drone + $10B Wildfire Suppression markets
Strong Team: CEO is 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
Great Product: NASA funded, 10X longer flight time with a heavy payload vs. existing technology for unmanned aircraft
“Heaviest lift and longest flight time ever.”
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 Department of the Interior, Forest Service, Navy and other agencies 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.
Our new Parallel Hybrid drone can fly for hours with a heavy payload
Our new Parallel Hybrid technology is a 10X gain 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.
$10B, $34B, and $87B 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 $34B by 2022.[2] And the Urban Air Mobility market should reach $5B by 2023, and $87B by 2035.[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.
We will begin by fighting wildfires
Our initial market is wildland fire. 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.
Our unmanned aircraft can fly the equipment to a drop point and lower it to the ground with a winch.
Hardware takes time, yet we’ve gone from a sketch to a working prototype in two years
In fall of 2018 we demonstrated our core principles with a proof-of-concept aircraft. In August 2019, we successfully demonstrated heavy lift capability and duration with our new prototype aircraft, which was incredibly exciting. We are currently being funded by a NASA Phase 1 SBIR, which will help us upgrade our aircraft for enhanced reliability. When this is complete it will be ready for joint exercise missions with several agencies interested in our products. We anticipate flying these missions in 2020.
We are working directly with the unmanned systems programs within the Department of the Interior and Forestry Service. These organizations are interested in heavy lift unmanned aircraft for a number of missions. One mission of interest is controlled burns. Several pilots have tragically died over the years in these missions, so the agencies are beginning to use drones. However, they need longer flight times and heavier payloads - and that is where Parallel comes in. In 2018, the DOI flew over 10,000 drone missions and they are looking to increase their capability with heavy lift technology.[4][5] On the state side we are in conversation with Cal Fire, which is just beginning to develop its drone program. On the municipal level, we are working with LA City Fire. Parallel has letters of intent signed with companies for important applications such as search and rescue, controlled ignition, and invasive species removal.
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, and logistics. Performing these missions autonomously will increase safety and reduce cost.
We sell a high margin product, that generates recurring revenue
Parallel will make money by selling aircraft, aircraft contracts, and service contracts. Our initial customers will be federal, state, and municipal agencies tasked with wildland firefighting, as well as private contractors that provide wildfire services. Our initial aircraft product is anticipated to cost around $150,000 with a COGS of $80,000. Aircraft purchased outright will typically 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 sources of recurring revenue for Parallel.
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. 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.
Parallel provides the longest flight times at heavy payloads compared to other technologies
The future of heavy lift
In three years, we intend 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 our scaling our technology for the Urban Air Mobility market for applications such as air ambulances.
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: 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 will save lives. This isn't about air-dropping burritos by drone - this is about applications that are life and death.
Property
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, making it the largest fire in California history. This is not to mention the massive wildfires in Greece, Alaska, Australia and the Amazon. Parallel 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 that is 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
Our innovations have led to partnerships with NASA
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 have been awarded a NASA SBIR, Phase 1 grant to continue prototype development. CEO, Joshua Resnick has a pending patent on the technology and will assign this IP to the company.
We have won awards in prestigious innovation competitions
We are bringing real innovation to pressing problems like wildfire and remote logistics. This is why we won the Arctic Innovation Competition, and why we have been accepted into the NSF iCorps program and the Launch Alaska Accelerator program.
We are engaging our customers and communities
Building new technology is hard. But getting that technology deployed in the field is harder. At Parallel 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!
In the Press
Monterey Bay Drones Automation & Robotics Technology
January 1, 2017
2019 Monterey Bay DART Symposium Highlights Reel
Offering Summary
Company | : | Parallel Flight Technologies, Inc. |
Corporate Address | : | 1120 Sylvia Way, Ben Lomond, CA 95005 |
Offering Minimum | : | $9,998.80 |
Offering Maximum | : | $1,069,999.00 |
Minimum Investment Amount(per investor) | : | $294.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Class A Common Stock |
Minimum Number of Shares Offered | : | 7,142 |
Maximum Number of Shares Offered | : | 764,285 |
Price per Share | : | $1.40 |
Pre-Money Valuation | : | $7,980,000.00 |
Voting Proxy for shares sold in this Offering
Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below
Perks* and Investment Incentives
Silicon ($500+)
Parallel Flight T-Shirt
Aluminum ($1,000+)
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
Lithium ($2,000+)
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
2% Bonus Shares
Carbon ($5,000+)
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
5% Bonus Shares
Titanium ($10,000+)
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
Invitation to our Beta Aircraft Unveil event and dinner with our executive team. Exclusive access to live flight demonstration!
10% Bonus Shares
Graphene ($25,000+)
Parallel Flight T-Shirt
Spectacular Parallel Flight Baseball cap
Invitation to our Beta Aircraft Unveil event and dinner with our executive team. Exclusive access to live flight demonstration!
You get to load the drone with an object of your choice at the flight demo! Please keep the object (no children or animals) 50lbs or less!
15% bonus shares
*All perks occur after the offering is completed.
The 10% Bonus for StartEngine Shareholders
Parallel Flight Technologies, Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 or made at least two investments in StartEngine's own offerings.
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 A Common Stock at $1.40 / share, you will receive 110 Class A Common Stock shares, meaning you'll own 110 shares for $140. 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 for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement, unless their eligibility period has been extended through additional subsequent investments in StartEngine's own offerings.
Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company that 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.
The Company will not incur any irregular use of proceeds.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$184,596.00
USD
$0.00
USD
Cash And Cash Equivalents
$182,295.00
USD
$0.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$600.00
USD
$0.00
USD
Long Term Debt
$173,000.00
USD
$0.00
USD
Revenues And Sales
$0.00
USD
$0.00
USD
Costs Of Goods Sold
$0.00
USD
$0.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$4,004.00
USD
$0.00
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
Beta Hybrid Power Module to Begin Testing & AMA Webinar!
about 1 month ago
The team at PFT is making awesome progress on our Beta level Hybrid Power Module, which is the core technology for our revolutionary unmanned systems. The module will begin testing next week! I'll be hosting a webinar on Tuesday, July 14th, at 3pm Pacific, to provide technical and business updates, and answer any and all investor questions. Here is the sign up link:
https://us02web.zoom.us/webinar/register/WN_UfLM7HW4TIKTn6fhcIFELQ
I'll see you there!
-Joshua Resnick, CEO
Live, Ask-Me-Anything Webinar with Parallel Flight CEO, Joshua Resnick
about 2 months ago
Dear Investor,
Just in case you missed the last one - Parallel Flight will be hosting a webinar this Thursday, June 25th, at 3pm, PDT, where I will be giving a number of exciting company updates, and directly answering questions. Topics will include our work with NASA, NSF, customers, and our Beta Hybrid Power Module.
Please sign up here, I will answer questions from the registrations forms first.
I hope to see you there!
Sincerely,
Joshua Resnick, CEO
Live, Ask-Me-Anything Webinar with Parallel Flight CEO, Joshua Resnick
about 2 months ago
Dear Investor,
Parallel Flight will be hosting a webinar this Thursday at 3pm, PDT, where I will be giving a number of exciting company updates, and directly answering questions. Topics will include our work with NASA, NSF, customers, and our Beta Hybrid Power Module.
Please sign up here, I will answer questions from the registrations forms first.
I hope to see you there!
Sincerely,
Joshua Resnick, CEO
NSF Grant, CAL FIRE Adviser, and More
5 months agoDear PFT Investors,
Thank you for believing in us!
Your investment is being deployed as we speak. The team has begun working on a Beta level Drone that will be deployed with our first customers. This comes months after hard work and long hours to garner important data results from the prototype.
The data ascertained has been instrumental in PFT being awarded a National Science Foundation (NSF) grant in the amount of two hundred thousand dollars. This grant follows on the recent completion of a grant from NASA. Having the backing of both NASA and NSF is a major accomplishment and vote of confidence for the technology and applications being developed.
At Parallel Flight Technologies, we believe in moving beyond the status quo of disaster relief and think differently in how to save lives, property and the environment. Our mission to change the world will continue to inspire us and get us through these difficult times.
Sincerely,
Joshua Resnick, CEO
Please take moment to meet our new team members:
Retired Fire Chief, Scott Watson has devoted close to 40 years in the fire service, starting with the US Forest Service, and retiring from CAL FIRE as a Battalion Chief. As a veteran firefighter, he has over twenty years in tactical helicopter operations. He has worked closely with the California National Guard fighting fires statewide. Scott now enjoys retirement with his wife and family, teaches part-time at Los Medanos College, babysits a ton and spends a lot of time in the great outdoors.
Megan Metz, Business Operations Manager, is a veteran executive director with 15 years of successful leadership in developing sustainable business models with strong operational support. She is experienced in building diverse collaborations and cultivating relationships with corporate, public and nonprofit leaders. Megan lives in Santa Cruz with her husband, daughter and dog Winnie. Megan has been hired to lead our business operations.
Last Chance to Recieve Updates
7 months agoDear Investors,
Thank you for the immense support for Parallel Flight! Thanks to you all, this has been an awesome campaign on StartEngine.
Today is the last day of our campaign, if you are on our investor waitlist or just following us, please sign up for our mailing list by clicking this link. Otherwise, you will not receive Parallel Flight news and updates after the campaign closes.
Sincerely,
Joshua Resnick, CEO
Our New R&D Shop / Just 3 Days Left!
7 months agoDear Investor,
Thanks to all of you we have moved into our new location and are kicking off the work needed to build our first customer ready drones. These aircraft will be used to support the efforts of wildland firefighters.
There are just 3 days left in our campaign, if you haven’t signed up for our waitlist yet, please do so today.
If you are on our investor waitlist or just following us, please sign up for our mailing list by clicking this link. Otherwise, you will not receive Parallel Flight news and updates after the campaign closes.
Thank you for joining us in this journey to change the world for the better.
Sincerely,
Joshua Resnick
Mapping the World’s Water with Parallel
7 months ago
Dear Investor.
With huge areas of land burning in Australia, the need for our technology in the firefighter support application could not be more urgent. Nevertheless, there are countless other applications for our heavy lift, longer duration, autonomous aircraft. One such mission is lifting heavy sensors which map underground water.
Airborne Instruments ApS, a company based out of Denmark and part of the Skytem group, has signed an LOI with Parallel Flight to begin using drones for mapping underground water resources. The ability to reveal the availability and movement of water is a huge asset for countries and communities wanting to manage resources and respond to natural disasters. In fact, Airborne has used their unique sensors to map all the water resources in Denmark, and they deploy their systems worldwide.
Our campaign wraps up in just a few days. If you are on our investor waitlist or just following us, please sign up for our mailing list by clicking this link. Otherwise, you will miss out on Parallel Flight news and updates after the campaign closes.
Thank you for joining us in this journey to change the world for the better.
Sincerely,
Joshua Resnick
Notice of Funds Disbursement
7 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Parallel Flight Technologies has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Parallel Flight Technologies be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Continue to Follow Parallel
7 months ago
Dear Investor.
Thank you for investing and following our campaign. 2020 will be a pivotal year for Parallel as we build our beta level aircraft and work toward the vision of deploying our technology for life-saving missions.
Our campaign wraps up in just two weeks and we hope you will continue to follow our progress.
If you are on our investor waitlist or just following us, please sign up for our mailing list by clicking this link. Otherwise, you will not receive news and updates after the campaign closes!
Thank you for joining us in this journey to change the world for the better, and have a wonderful New Year!
Sincerely,
Joshua Resnick
Worldwide Wildfires and Another Parallel Flight Partnership
8 months agoDear Investor.
Massive wildfires are a worldwide environmental crisis. This fire season in Australia has seen the destruction of 3.4M hectares of land, over 12X the average area burned over the past few years...and it is not even halfway over.
Bushfires in 2019 in Australia are burning unprecedented amounts of land
Here in North America, federal agencies and private industry are taking notice of the solutions that Parallel Flight is building. Our most recent Letter of Intent (LOI) is a partnership with Mir Aviation, a Canadian operator involved with fire, Search and Rescue (SAR), and other disaster relief applications.
Mir Aviation has deep expertise in drone operations in Canada, and will be an excellent partner in bringing our unmanned aircraft solutions to that market.
As you have probably seen, our round is fully subscribed. If you haven’t already invested, please join our waitlist.
Finally, if you are on our waitlist or just following us, please sign up for our mailing list by clicking this link so that you continue to receive news and updates after the campaign closes.
Thank you for joining us in this journey to change the world for the better.
Sincerely,
Joshua Resnick
Here is an article documenting the current situation in Australia.
Parallel Flight Technologies' prototype carrying a payload of chainsaws
Dear Investor,
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