According to the agreement, the United States Amy will examine and consider the company’s technology for a period of about 120 days with the goal of improving its global transportation system. The technology will reduce the number of empty trucks on the roads and digitalize supply chain processes through optimization, contributing to global efforts to prevent a climate crisis.
Trucknet provides a unique system for calculating carbon dioxide (CO2) emissions in real-time, as well as reducing pollutants. This measure goes hand in hand with President Biden’s climate policy, which he announced upon taking office.
Israel, March 29, 2022, (Tel Aviv: Tran) Trucknet is pleased to announce that on March 27 it signed a Letter of Intent with the US Army for the use of the Trucknet platform. According to the Letter of Intent, the army will consider the possibility of collaboration with the company in the areas of smart transportation, sustainability and logistics and the use of various products and services offered by the company.
The Parties will endeavor to promote cooperation, at their discretion, and to enter into a detailed and binding cooperation agreement within 120 days from the date of approval of the Letter of Intent. The document clarifies that as long as the Parties do not reach agreement and no detailed contract is signed at the end of the trial period, and if extended by agreement, the Letter of Intent will not obligate the Parties, apart from the Parties’ mutual obligations to maintain confidentiality of the document.
According to the company’s understanding, Trucknet’s technologies should improve the US Army transport system by reducing the mileage of empty (without cargo) trucks and digitalizing supply chain processes through optimization; all part of an effort to reduce pollutants and greenhouse gas (GHG) emissions, as well as using the tool for calculating GHG emissions online.
The above-mentioned information regarding the cooperation with the US Army is to the best of the company’s knowledge, based on data in its possession that has not been reviewed by the company independently. In addition, the company is unable at this stage to assess the chances of engagement of the Parties in a binding agreement, if at all.
The Company
Trucknet Enterprise provides a green, cloud-based ALL-IN-ONE digital platform that enables transportation and logistics companies to reduce transport costs and save resources by optimizing shipments across all modes of transportation, through artificial intelligence (AI), business intelligence (BI) and ML machine learning). The platform includes an online tool for calculating CO2 emissions from vehicle fleets and offers smart automatic matching between trucks and cargo, based on location. In addition, an easy and fast payment solution is available for the B2B market.
Trucknet’s platform enables transportation and logistics companies to significantly minimize empty rides through automatically prioritizing available vehicles with other transport and logistics companies. Based on location, the system carries out smart matching between empty trucks and available cargo.
Trucknet’s solution enables full automation and optimization for land transport for companies managing commercial vehicle fleets and for customers of logistics services. The system assists companies to significantly lower service costs and improve efficiency and profitability through reduction of the number of empty trucks on the roads. This results in a reduction of air pollution and GHG emissions, traffic accidents involving trucks as well as less damage to the environment.
Data from the Israel Central Bureau of Statistics show that in 30% of traffic accidents heavy-duty vehicles are involved and 23% of the pedestrians killed in urban areas are from heavy vehicles (trucks and buses).
The company aims to establish a unique professional system in the area of shared transport. Trucknet’s software platform interfaces with all leading work scheduling systems, TMS and leading telematics systems. Transport companies can improve and optimize vehicle fleet management and sharing of resources, by mutual use of digital documents (without the need to print). Trucknet has developed user-friendly interfaces for the driver and for the end customer offering complete connectivity, monitoring and transparency as well as providing solutions for payment through the system.
Trucknet operates in the international transportation and logistics market, which is valued at about $19.36 trillion. As of 2020, the company has approximately half a million trucks connected from roughly 4,000 companies. Some data from the world about trucks that travel empty (without cargo): in Europe 27% of trucks on the roads run empty, in the United States 36% and in Asia 46%.
Trucknet conducted a joint pilot project with the Renault Group during October 2020, in which a connection was made to Renault’s bid system that tenders each work order. Through the system, contractors were identified on the basis of their location in relation to Renault’s requests. The pilot proved that connection to Trucknet’s platform led to improvement in the efficiency and profitability of logistics services by 17%; savings achieved were up to €115,000 in two weeks for 268 trips out of a total of 371 (68% success rate).
The results of the pilot demonstrated the platform’s ability to improve efficiency and save transportation costs for logistics companies. This is due to the fact that the Trucknet platform adjusts shipping orders for (transport) contractors, based on their geographical proximity to the location of cargo, thus, allowing them to submit lower price proposals and save costs.
The company, established in 2016 by CEO Mr. Hanan Fridman, employs approximately 40 people spread across offices in the world. Trucknet has signed agreements and pilot projects with leading companies in and outside Israel, including DSV, La Poste, DPD, ChronoPost, Allcargo, Israel Post and more.
