According to the Agreement, the US Army will examine Trucknet’s technology in order to improve its global transportation system.
During this time period, the Parties will examine potential collaboration with the aim of optimizing truck fleets and reducing fuel consumption and greenhouse gas emissions through the use of the Trucknet Smart Catalyst.
As may be remembered, in July Trucknet won the RFI for reducing emissions from the vehicles of the IDF (Israel Defense Forces).
According to Mr Hanan Fridman, CEO of Trucknet, “I am pleased with the progress being made with the US Army and expansion of the Letter of Intent to include an additional area – reducing fuel consumption and emissions. Companies and entities dealing with transport and logistics have come to realize the importance of contributing to global efforts to reduce emissions and developing platforms capable of monitoring pollutants; they have internalized that these are positive steps for the environment and for the ecosystem in which Trucknet operates.
For Trucknet, extension of the Agreement with the most important and leading logistics entity in the world is an expression of trust and a proactive step for advancing technological and sustainable solutions. I am happy about the choice to continue using the solutions we developed, currently integrated in noteworthy transport fleets in Europe, leading to a substantial reduction in polluting emissions.”
Israel, 21 August 2022, (TA: Tran) Trucknet updates about extending the Memorandum of Understanding (MoU) for the use of the Trucknet platform between the Company and the United States Army for an additional 60 days; this follows the content of the Company’s immediate report from 29 March 2022 regarding signing of an MoU between the Company and the US Army, according to which the US Army will examine the possibility of cooperation with the Company in the areas of smart transportation, sustainability and logistics and the use of various products and services offered by the Company.
In addition, it was agreed to include in the framework of assessing the possibility of cooperation, the profitability for the US Army from the use of the integrated product, a fuel catalyst, for reducing fuel consumption and emissions of pollutants in diesel engines, and to examine the ability of Trucknet’s telematics system for calculating and reporting the emissions saved, for which an immediate report was submitted by the Company on 20 June 2022. The Company was invited to a meeting in the US, funded by the US Army, in order to prepare a POC process.
The information provided above regarding cooperation with the US Army, to the best of the Company’s knowledge, is based on data it holds that has not been checked independently by the Company. Moreover, the Company is unable at this stage to assess the possibility of the Parties entering into a binding agreement, if at all.
About the Company
Trucknet Enterprise is an “integration platform as a service” company. Its All-in-One digital, cloud-based platform enables transportation and logistics companies to reduce transport costs and save resources by optimizing shipments across all modes of transportation, through the use of Artificial Intelligence (AI), Business Intelligence (BI) and Machine Learning (ML).
The platform aims to establish a unique professional system in the area of shared transport. It includes customized management interfacing for drivers and end users, a smart BID system, automatic matching based on location between trucks and cargo, an easy and quick payment solution for the B2B market, and an online tool for calculating CO2 emissions of fleet vehicles.
Trucknet’s software interfaces with all the leading work scheduling (TMS- Transportation Management Systems) and telematics systems, or enables the integration of an original TMS system. Transport companies are provided with full visibility and optimization for fleet management, while using digital documentation (e-CMR), offering complete connectivity, monitoring and transparency.
Trucknet’s solution, customized for the needs of each client, enables automation and complete optimization for land transport for companies that manage commercial vehicle fleets as well as for customers receiving logistics services. Efficiency is improved, significantly reducing costs, and consequently increasing company profitability, together with a reduction in the service cost.
This shared ecosystem that connects trucks with cargo significantly reduces empty miles (mileage accumulated while driving with an empty container). As a result, the number of vehicles on the roads is reduced as well as harmful emissions, damage to the environment and traffic accidents involving trucks. This is accomplished by a user interface that automatically prioritizes available vehicles from one company with other transport and logistics companies by making a smart match based on location between empty trucks and available cargo. The data for trucks that travel empty (without cargo) in the world stands at 27% in Europe, 36% in the United States and 46% in Asia.
A 2021 survey carried out by TIAA-CREF (Teachers Insurance and Annuity Association – College Retirement Equities Fund) found that about half of investors currently hold socially responsible investment (ESG – environmental, social, and governance) portfolios, as they realize that the value of an impact investment is more than return alone. The solution offered by Trucknet is therefore an absolute WIN- WIN-WIN for any company that integrates and connects to its platform, as well as for the investor and, of course, for the environment.
Trucknet operates in the international transportation and logistics market, valued at about $19.36 trillion, and to date the company has approximately half a million trucks and about 5,000 companies registered from around the world.
Since its Initial Public Offer (IPO) on the Tel Aviv Stock Exchange in April 2021, the Company has signed a number of Agreements with noteworthy factories, companies and logistics organizations throughout Europe and the US, including operational Agreements with CS PPG Romania S.A., Saint Gobain, DSV, KYNITA, Hochland, Farmec, Carpatina BEVERAGES S.A. and more.
Trucknet was founded in 2016 by CEO Mr Hanan Fridman, and the company has more than 40 employees in offices in France, Romania and Israel.
