Mr. Hanan Fridman announces, “”This is a strategic agreement for Trucknet with a global logistics company that connects mega-customers of significant strategic importance, in the United States, Canada and Africa. Along with connecting our platform to land, air and maritime transport points, we see paramount importance in implementing the advanced technology we have created in large organizations such as armies, as part of the immediate solution required to tackle the global supply chain crisis that has dominated international trade in recent years. The use of our system helps to streamline the entire transportation process, and to reduce carbon emissions.
Israel, January 16, 2022, Tel Aviv: (T.A.: Tran) Trucknet, Trucknet is pleased to announce that it has today signed a preliminary LOI for cooperation between Trucknet and Sigmai Trade and Logistics.
Sigmai is an advanced and dynamic shipping company that operates in all areas of international shipping, providing creative and professional solutions for the entire supply chain. Sigmai operations in the United States, Canada, Africa, and various other countries.
Sigmai is active in the defense and military industry market, and ships sensitive and diverse equipment for ZIM, the U.S. military, the UN, and NATO forces.
The guidelines for cooperation between the Parties based on the LOI are as follows:
- The Company will grant Sigmai a license for use of the Trucknet Platform throughout Europe, the United States, Canada, and Israel, including use of all available System functions.
- Sigmai will use the system for a one-month trial period, without consideration.
- Following the trial period, Sigmai will pay the Company a sum of 5 Euros for the planning of each trip via the system.
- In addition, for use of the System’s automated smart match function, an additional sum of 5% of the freight price from each order by existing or new sub-contractors that will be added to the Company’s database, will be paid to the Company.
The LOI stipulates that the Parties will endeavor to promote mutual cooperation between the companies, at their discretion, and will sign a Detailed and Binding Agreement within 60 days, following the signing of the LOI. In so far as the Parties fail to reach an agreement and shall not enter into a Detailed and Binding Agreement within the said period, and they have not extended this period, the Letter of Intent does not and will not have any binding validity.
The information provided above regarding the cooperation with Sigmai is, to the best of the Company’s knowledge, based on the data they have on hand and without these being verified independently by the Company. Furthermore, the Company cannot at this stage estimate the chances of engagement of the parties in a Binding Agreement, if at all, and the expected scope of use of the Trucknet platform by Sigmai.
About Sigmai
Sigmai is an advanced and dynamic shipping company that operates in all areas of international shipping, providing creative and professional solutions for the entire supply chain.
Sigmai is a member of an extensive international network of agents which provides a global infrastructure for its activities and enables the provision of effective solutions for unconventional destinations and for particularly complex shipments.
Sigmai offers a basket of services that includes all components of the supply chain, in both import and export, from the planning of the shipment to arrival at the destination warehouse for sea/air/land transport, dangerous and exceptional shipments, customs services, storage and bonded. Sigmai has the ability to provide integrated multi-model transportation shipments within competent and reliable schedules, and the provision of turn-key solutions and a comprehensive handling of complex projects.
Sigmai, in cooperation with a network of international agents, performs sensitive and complex third-party shipments, which include handling documentation, meticulous transportation coordination and compliance with import laws from any destination and to any destination in the world.
Sigmai has been a member of a number of international agent chains:
FPS, WFN – Networks specializing in international shipping for full containers, console
shipments and air shipments.
GPLN, XLP, PLA Networks that specialize in complex projects, members of these networks are
owners of transport equipment, cranes and ships.
Sigmai is active in the defense and military industry market, and ships sensitive and diverse equipment for the U.S. military, the UN, and NATO forces to all destinations.
As part of this activity Sigmai provides end services in Arab and African countries and provides a creative response to political shipments to these countries both in import and export.
Thanks to its investment in human capital development and improvement of processes, Sigmai is constantly expanding in order to provide its customers an advantage in a changing and competitive market.
About Trucknet Enterprise
Trucknet Enterprise provides a green, cloud-based ALL IN ONE digital platform, enabling transportation and logistics companies to reduce transportation costs and save resources by optimizing freight deliveries via all modes of transportation through Artificial Intelligence (AI), Business Intelligence (BI) and Machine Learning (ML). The Platform offers an online tool for calculating CO2 emissions from vehicle fleets and smart automated matching capabilities between trucks and cargo, based on location, which includes a fast, user-friendly payment solution for the B2B market.
Trucknet’s Platform enables haulage and logistics companies to significantly minimize empty journeys, by automatically prioritizing available vehicles with other companies in the field of transportation and logistics, by making smart Matches, between empty trucks and cargo, based on location.
Trucknet’s solution enables full automation and land transport optimization for companies managing commercial vehicle fleets and consumers of logistics services to significantly streamline and reduce costs, thereby improving companies’ efficiency and profitability, lowering service costs, increasing profitability, reducing the number of empty trucks, which as a result, reduces pollutant emissions and damage to the environment, and helps reduce the number of road accidents involving trucks. Data from the Central Bureau of Statistics show that heavy vehicles are involved in 30% of road accidents, and the rate of pedestrians killed in urban areas by heavy vehicle, trucks and buses is 23%.
The Company aims to establish An exclusive professional system in the field of smart cooperative transportation. Trucknet’s Platform software interfaces with all leading workflow systems – TMS and telematics systems, enabling haulage companies to improve and optimize vehicle fleet management and resource sharing, using digital documents (without the need to print them). Trucknet has developed management interfaces tailored to meet driver and end customer requirements, enabling full connectivity, monitoring and transparency as well as, providing solutions for making payments through the system.
Trucknet operates in the international transportation and logistics market, valued at approximately $19.36 trillion, and as of 2020, approximately 500,000 trucks and approximately 4,000 customers are connected to the system. Global empty truck data: Europe 27%, United States 36%, and Asia 46%.
During October 2020, the Company conducted a joint pilot with the Renault Group, during which a connection was made to Renault’s bid system, which performs tenders for each job order and via the Platform located contractors, according to their location, in relation to Renault’s requests. The pilot demonstrated that using the Platform leads to a 17% improvement in the efficiency and profitability of logistics services and a saving of 115,000 euros within two weeks on 268 trips out of 371 trips (68% success).
The results of the experiment illustrated the platform’s ability to streamline and save transportation costs for logistics companies, due to the ability of the Trucknet Platform to match freight orders to haulage contractors, inter alia, based on their geographical proximity to the location of cargo, allowing them to submit cheaper quotes.
The Company, which was founded in 2016 by Mr. Hanan Fridman, who serves as the Company’s CEO, employs approximately 40 people, in offices around the world. Trucknet has signed agreements and pilots with leading Israeli and international companies, including DSV LA POSTE, DPD, ChronoPost All Cargo, Israel Post and more.
