ParaZero Technologies (PRZO) said Friday it obtained official approval from Israel's Defense Export Controls Agency, part of the Ministry of Defense, to market its High-Altitude Low-Opening, or HALO, Precision Airdrop System.
The system is designed to transform drone-based logistical support by enabling the delivery of supplies. Utilizing ParaZero's advanced parachute technology, HALO provides an innovative solution to support military operations and emergency response teams.
ParaZero said it will proceed to the next development phase following this approval, focusing on refining the technology for operational deployment in military and humanitarian scenarios.
Shares of ParaZero were up more than 16% in recent trading.
Price: 2.15, Change: +0.30, Percent Change: +16.32
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