HOUSTON, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) ("Fr8Tech'), a technology company specializing in the development of innovative solutions to optimize and automate the supply chain process through its custom-developed F8App platform, proudly announces the execution of a contract with Kawasaki Motores de Mexico for cross-border logistics services.
Kawasaki Motores de Mexico, a division of Kawasaki Heavy Industries, Ltd., brings a rich legacy of 120 years of expertise in constructing cutting edge transportation systems for the 21st century. Kawasaki's parent company's commitment to innovation is evident in their development of technologies such as liquid natural gas (LNG) carriers, high-speed vessels, and other future-oriented marine technologies.
As part of this contract, Fr8App is currently orchestrating the cross-border logistics for Kawasaki's iconic Jet Ski models, showcasing the platform's adaptability and efficiency in handling diverse transportation requirements.
Daniel Ortiz, Logistic Operation Supervisor of Kawasaki de Mexico, said: "In selecting Fr8App for this contract, we are making a deliberate choice that goes beyond mere technology adoption. We believe Fr8App aligns seamlessly with our core values of innovation and efficiency. Awarding this contract signifies more than just a technological advancement; it represents a strategic leap forward in how we approach our logistics operations. Together with Fr8App, we are eager to embark on a journey towards achieving unparalleled efficiency, reliability and substantial cost reduction."
Javier Selgas, CEO of Fr8Tech said: 'At Freight Technologies, we take immense pride not only in what we do but also in being chosen by global industries to revolutionize cross-border logistics. This contract with Kawasaki Motores de Mexico is a testament to our commitment to delivering cutting-edge solutions to a wide variety of industries. We believe that by securing a contract with Kawasaki Motores de Mexico, we also gain a chair at the table for a broader set of opportunities with many of the Kawasaki companies across North America. This strategy has served us well with other conglomerates and represents an inroad for us into additional opportunities with a large multinational conglomerate.'
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, you 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.
