Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • ParaZero has announced its secured a second waiver with drone cinematography company Beverly Hills
  • This waiver comes just two weeks after the first waiver was granted using ParaZero’s SafeAir Phantom and ASTM Professional Kit
  • This clause is slightly different, it allows Beverly Hills to operate over moving vehicles on enclosed sites

Drone safety company ParaZero has announced it has secured a second waiver with drone cinematography company Beverly Hills Aerials just two weeks after its first to general contractor Hensel Phelps.

This waiver confirms the process, using ParaZero’s ASTM Compliant product is replicable and scalable. This was outlined in a previous announcement and reads, “this process is scalable and available to other applicants who propose to use the same drone and parachute combination.”

The waiver for Beverly Hills includes a clause which allows them to operate over moving vehicles on closed-in sites. This is important to the company as their clients include major car companies and film and TV studios and networks.

The ASTM kit offers commercial operators the required compliance documentation that can be submitted for operational waivers and approvals.

The first waiver was approved by the Federal Aviation Agency which allows for the company, Hensel Phelps, to fly over people using ParaZero’s SafeAir Phantom Parachute System.

The safety system independently monitors key flight parameters of the drone’s internal and external systems. When critical failures are identified the mechanical flight termination stops the rotors and a parachute is deployed.

The parachute deploys to full canopy in a matter of seconds, controls the descent and enables a safe flight over people. The drone is then brought safely to the ground which minimises the impact.

ParaZero’s shares are currently sitting at $9.80 with a market cap of $10.35 million.

PRZ by the numbers
More From The Market Herald
Australia and New Zealand Banking Group (ASX:ANZ) - New Zealand CEO, Antonia Watson

" ANZ Bank (ASX:ANZ) cashes in on UDC Finance asset sale

ANZ Bank (ASX:ANZ) has sold New Zealand asset finance company UDC Finance to Shinsei Bank for…

" AMP (ASX:AMP) braces for $4b hit to FUM after Woolworths ends contract

AMP (ASX:AMP) expects a $4 billion hit to its funds under management following the termination of…

" AMP (ASX:AMP) divests its interest in Resolution Life Australasia for $524m

AMP Limited (ASX:AMP) has divested its equity interest in Resolution Life Australia (RLA) to Resolution Life…
AMP (ASX:AMP) - Chief Executive Officer, Alexis George

" AMP (ASX:AMP) flags 2021 full-year loss as demerger looms

AMP (ASX:AMP) has announced a slip in revenue and steep full-year loss for its 2021 financial…