Fr8App Awarded Key Routes with Envases Universales
February 26 2024 - 6:30AM
Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology
company whose custom-developed, industry-leading Fr8App
freight-matching platform offers a real-time portal for B2B
cross-border and domestic shipping within the USMCA region, is
proud to announce a significant collaboration with Envases
Universales, one of the largest packaging companies worldwide.
Fr8App was awarded key routes through Envases’ annual 2024 RFQ,
underscoring Fr8App’s commitment to delivering exceptional
transportation services and its capability to meet the evolving
needs of its clients.
Over the next twelve months, the awards are estimated to be
valued at more than $5 million and encompass 24 dedicated lanes,
mostly from Mexico to the United States, showcasing Fr8App’s
extensive network and ability to manage cross-border logistics
efficiently. Over the duration of the commitment, Fr8App, through
its advanced technology and experienced team, will be responsible
for transporting more than 1,600 loads, ensuring the timely and
secure delivery of Envases Universales’ goods.
“We are thrilled to have been chosen by Envases Universales to
help manage their transportation needs over the coming year,” said
Fr8App’s CEO, Javier Selgas. “This collaboration not only speaks to
our capabilities but also to the trust Envases Universales has in
our ability to deliver exceptional service. It also highlights the
importance of tactical collaboration between the companies in
driving profitable growth and achieving excellence in dependable
and efficient logistics execution.”
It is important to note that the value of the awarded routes may
be subject to change based on the production levels or needs of
Envases Universales. If Envases Universales experiences lower than
expected customer demand or production output, the amount of the
awarded routes may be adjusted accordingly. We consider this a
low-probability outcome given Envases Universales’ market
leadership in its industry.
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology
company developing solutions to optimize and automate the supply
chain process. Its wholly owned subsidiary, Freight App, Inc.
(“Fr8App”), is a B2B cross-border shipping marketplace in the USMCA
region powered by AI and machine learning. Focused on making
shipping transparent and efficient, Fr8App provides carriers with
increased growth opportunities and shippers with flexibility,
visibility and simplicity for the once-complex process of
international over-the-road (“OTR”) shipping. Fr8App uses its
proprietary technology platform to connect carriers and shippers
and significantly improve matching and operation efficiency via
innovative technologies such as live pricing and real-time
tracking, digital freight marketplace, broker, transportation
management, fleet management and committed capacity solutions. The
company is headquartered in Houston, Texas. For more information,
please visit fr8technologies.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Freight
Technologies’ and Fr8App’s actual results may differ from their
expectations, estimates and projections and, consequently, readers
should not rely on these forward-looking statements as predictions
of future events. Words such as “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue” and similar expressions (or the negative versions of
such words or expressions) are intended to identify such
forward-looking statements.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside Freight Technologies’ and
Fr8App’s control and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
impact of the COVID-19 pandemic on Fr8App’s business, if it should
recur; (2) the inability to obtain or maintain the listing of
Freight Technologies’ ordinary shares on Nasdaq; (3) changes in
applicable laws or regulations; (4) the possibility that Freight
Technologies or Fr8App may be adversely affected by other economic,
business and/or competitive factors; (5) risks relating to the
uncertainty of the projected financial information with respect to
Fr8App; (6) risks related to the organic and inorganic growth of
Fr8App’s business and the timing of expected business milestones;
and (7) other risks and uncertainties identified, including those
under “Risk Factors,” to be filed in Freight Technologies’ other
filings with the SEC. Freight Technologies cautions that the
foregoing list of factors is not exclusive. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Freight Technologies and Fr8App caution readers not to
place undue reliance upon any forward-looking statements, which
speak only as of the date made. Freight Technologies and Fr8App do
not undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in their expectations or any change in
events, conditions or circumstances on which any such statement is
based.
Fr8Tech Contact:
investors@fr8technologies.com
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
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