Freight Technologies Inc. Secures Major Win with Leading Global Pharmaceutical Giant
25 Ottobre 2023 - 12:30PM
Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology
company whose custom-developed Fr8App, an industry-leading
freight-matching platform powered by AI and machine-learning and
offers a real-time portal for B2B cross-border shipping and
domestic shipping within the USMCA region, proudly announces a
significant achievement with the recent success of securing an RFQ
(Request for Quotation) from a leading global pharmaceutical giant.
The prestigious pharmaceutical conglomerate, renowned for its
unwavering commitment to global health and life-changing
innovations, has chosen Fr8App as its trusted partner for a crucial
logistics operation. This RFQ win marks a monumental milestone for
the organization and underscores its continued dedication to
excellence and industry-leading logistics solutions.
Under the terms of the RFQ, Fr8App has been awarded 33 lanes to
transport pharmaceutical goods from the United States to both
Mexico and Canada. The project entails the movement of one to three
loads daily per lane, ensuring the timely and secure delivery of
vital pharmaceutical products to these international destinations.
This immense responsibility is a testament to Fr8Tech’s unwavering
commitment to safety, reliability and precision in logistics
operations.
The duration of the RFQ extends over seven months, during which
Fr8App will provide uninterrupted, end-to-end logistics solutions,
including secure transportation, tracking and reporting for each
load. Fr8App’s dedicated team of professionals will be overseeing
this vital operation to guarantee the smooth and efficient delivery
of these critical pharmaceutical products.
"We are incredibly proud and honored to have been chosen to
undertake this vital logistics operation," said Javier Selgas, CEO
of Fr8Tech. "This achievement represents a significant step in our
mission to provide world-class logistics services, especially in
the pharmaceutical industry, where precision and reliability are
paramount. Our team is ready and excited to meet the high
expectations of our esteemed client," concluded Selgas.
With this RFQ win, Fr8App continues to solidify its presence in
the competitive logistics market while establishing itself as a
trusted partner for global companies in need of secure and
efficient transportation solutions.
About Fr8App
Fr8App is a freight forwarding matching platform that uses
innovative technology to connect shippers and carriers with
available loads and trucks. With a focus on user experience and
real-time data, Fr8App is making it easier than ever for businesses
to manage their logistics operations and streamline their supply
chain. For more information, please visit Fr8App
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
include, without limitation, Freight Technologies’ and Fr8App’s
expectations with respect to future performance and anticipated
financial impacts of its acquisition of Fr8App.
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; (2) the
inability to obtain or maintain the listing of Freight
Technologies’ ordinary shares on Nasdaq; (3) the ability to
recognize the anticipated benefits of the merger, which may be
affected by, among other things, competition and the ability of
Fr8App to grow, manage growth profitably and retain its key
employees; (4) costs related to the merger; (5) changes in
applicable laws or regulations; (6) the possibility that Freight
Technologies or Fr8App may be adversely affected by other economic,
business and/or competitive factors; (7) risks relating to the
uncertainty of the projected financial information with respect to
Fr8App; (8) risks related to the organic and inorganic growth of
Fr8App’s business and the timing of expected business milestones;
and (9) 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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