Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a technology company developing solutions to optimize and automate the supply chain process as well as providing a platform for B2B cross-border shipping in the United States-Mexico-Canada (“USMC”) region, has announced its receipt of a two-year commitment from Kimberly Clark de Mexico, S.A.B. de C.V. to expand its fixed-fleet product. Earlier this year, the company announced the launch of its Fr8Private Fleet product, which has been well received across Mexico, the only country where it is presently offered. Fr8Private Fleet operates on the company’s B2B platform and commits it to provide, and its shipper client to pay for, a predetermined amount of load capacity over a stated period of time. “It is very rewarding to receive this commitment, which we will begin to fulfill as soon as we secure the capacity required to do so. An attractive feature of a longer-term contract is that it secures a stream of steady business for our Fr8App platform over the term of the contract,” said Luisa Lopez, COO of Fr8App. “As a company, we have invested a significant amount of time and resources in developing the Fr8Private Fleet product, and it is very encouraging to receive a commitment of this size from such an important company in this segment.”
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About Freight Technologies Inc.
Freight Technologies 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 NAFTA 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, visit the company’s website at Fr8Technologies.com.
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