Freight Technologies Secures Win with Bayer
September 11 2024 - 9:15AM
Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the
“Company”), a logistics management innovation company, offering a
diverse portfolio of technology-driven solutions that address
distinct challenges within the supply chain ecosystem, today
announced its selection by Bayer CropScience LP (“Bayer”), a
division of Bayer AG, as a key logistics provider for the 2025
season. Following a Request for Proposal process, Fr8App has been
awarded six essential cross-border lanes to provide truckload
services for Bayer’s various business units in the United States.
This strategic win marks a significant step forward for Fr8Tech
as it continues to advance its cross-border over-the-road (OTR)
offering in the competitive logistics market. Bayer CropScience LP,
a global leader in agricultural products, selected Fr8App to
support its key goals of supplier consolidation, cost optimization,
cross-divisional synergies, and enhanced carrier performance.
Aligned with Bayer’s mission, Fr8App’s role will focus on
facilitating seamless and secure transportation across the
US-Mexico border, ensuring timely and reliable delivery of Bayer’s
agricultural products.
“This Bid Award from Bayer is an important milestone for Fr8App,
reflecting the strength of our technology and the trust major
global brands place in our ability to execute complex cross-border
logistics,” said Javier Selgas, CEO of Fr8Tech. “We are honored to
be part of Bayer’s strategy for optimizing supply chain efficiency,
and we are committed to exceeding their expectations in the 2025
season and beyond.”
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology
company offering a diverse portfolio of proprietary platform
solutions powered by AI and machine learning to optimize and
automate the supply chain process. Focused on addressing the
distinct challenges within the supply chain ecosystem, the
Company’s portfolio of solutions includes the Fr8App platform for
seamless OTR B2B cross-border shipping across the USMCA region;
Fr8Now, a specialized service for less-than-truckload (LTL)
shipping; Fr8Fleet, a dedicated capacity service for enterprise
clients in Mexico; and Waavely, a digital platform for efficient
ocean freight booking and management of container shipments between
North America and ports worldwide. Together, each product is
interconnected within a unified 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, brokerage support,
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. Fr8Tech’s and
Fr8App Inc.’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 Fr8Tech’s and Fr8App Inc.’s
control and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the inability to
obtain or maintain the listing of Fr8Tech’s ordinary shares on
Nasdaq; (2) changes in applicable laws or regulations; (3) the
possibility that Fr8Tech or Fr8App Inc. may be adversely affected
by other economic, business and/or competitive factors; (4) risks
relating to the uncertainty of the projected financial information
with respect to Fr8App Inc.; (5) risks related to the organic and
inorganic growth of Fr8App Inc.’s business and the timing of
expected business milestones; and (6) other risks and uncertainties
identified, including those under “Risk Factors,” to be filed in
’Fr8Tech other filings with the Securities Exchange Commission.
Fr8Tech 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. Fr8Tech and Fr8App
Inc. caution readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Fr8Tech and Fr8App Inc. 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:
Jason Finkelstein
Ignition Investor Relations
investors@fr8technologies.com
Freight Technologies (NASDAQ:FRGT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Freight Technologies (NASDAQ:FRGT)
Historical Stock Chart
From Oct 2023 to Oct 2024