HOUSTON - Freight Technologies, Inc. (NASDAQ:FRGT), known as Fr8Tech, has secured a significant deal with Envases Universales, a major player in the global packaging industry. Fr8Tech's Fr8App, a freight-matching platform, has been selected for key shipping routes in Envases' 2024 annual Request for Quotation (RFQ).
This collaboration, valued at over $5 million, assigns Fr8App 24 dedicated lanes primarily from Mexico to the United States, emphasizing Fr8App's proficiency in managing cross-border logistics.
Over the next year, Fr8App is tasked with transporting more than 1,600 loads for Envases Universales, ensuring the secure and timely delivery of their products. "This collaboration not only speaks to our capabilities but also to the trust Envases Universales has in our ability to deliver exceptional service," said Javier Selgas, CEO of Fr8App.
The awarded contract's value may vary depending on Envases Universales' production levels and customer demand. However, given Envases' market leadership, a significant deviation from the expected value is deemed unlikely.
Fr8Tech develops technology solutions to optimize and automate the supply chain process. Its subsidiary, Fr8App, operates in the USMCA region, leveraging AI and machine learning to enhance the efficiency of international shipping.
The information in this article is based on a press release statement from Freight Technologies, Inc.
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