- Trucknet estimates that the new product and business model in which it will be sold to the end client may already significantly increase revenues early in the process, based on the success of its penetration in various markets.
- The integrated product of the two companies, under the brand name Trucknet Smart Catalyst, will be exclusively marketed by Trucknet to both its clients and to Rentar’s current clients within the area of commercial trucks and buses.
- Trucknet’s plan is to have access to 1.8 million trucks across Europe, following completion of the integration, during the next two months, with LogPay that is owned by Volkswagen Group.
- The Company will hold an online conference call regarding the subject on Tuesday, June 21, 2022 at 11:30.
Link to register: https://us02web.zoom.us/webinar/register/WN_1d2VHbGLRz6Rk3507osHOQ
According to Hanan Fridman, CEO and founder of the Company, “Truckent is improving its services by offering other systems on the market its emissions calculator. Thanks to Trucknet’s technology, it is used to make organizations smarter by reducing supply chain costs and CO2 emissions from vehicle fleets, providing an opportunity for companies to receive financial credits for the reduction of carbon emissions.
The need for our products is increasing these days, considering the dramatic increase in the costs of gas and diesel fuel throughout the world. The concern for reducing fuel consumption and carbon emissions is high on the agenda of governments and large companies; the integrated solution of Trucknet and Rentar can assist in promoting an economic and environmental change.
A truck, which emits an average of 12-16 tons of pollutants per month, could save about 20% of harmful emissions; and this would be in parallel to the additional savings achieved from using the smart matching system we developed. To date, following the increase in prices recorded in the world, a truck that reduces emissions could receive about 85 Euros for a ton of polluting emissions saved, by using the fuel catalyst, that can be calculated with the Trucknet online emissions calculation tool.
In addition to the positive environmental impact, the fuel catalyst has economic advantages for the end user, as its implementation can bring a reduction in fuel expenses of up to 8%. A truck in Europe consumes diesel fuel at an average of about 60,000 Euros per year.”
Israel June 1, 2022 (TA: Tran) Trucknet signed a Memorandum of Understanding for cooperation with Rentar Environmental Solutions Inc. (Rentar), a US company from Florida which developed and manufactures a Fuel Catalyst with the aim of reducing fuel consumption and emissions in diesel engines (catalytic component).
To the best of the company’s knowledge, Rentar operates in the US and in more than 30 countries in Asia, Europe and Latin America. Rentar’s catalytic component is used to reduce fuel costs in diesel engines by 3- 8% and emissions by approximately 20% in a wide variety of industries, including off-road vehicles, mining, rail, marine, power generation and construction. Rentar’s property rights for the catalytic component are protected in patents registered in the US and in Israel.
The guidelines for cooperation between the Parties, according to the document are as follows:
- As part of the collaboration, the catalytic component will be combined with the competencies of the Trucknet system for measuring and reporting the reduction of polluting emissions with the Trucknet online emissions calculation tool. The integrated product will be marketed exclusively by the Company to clients with commercial trucks and buses under the brand name Trucknet Smart Catalyst (integrated product).
- The Parties will carry out a POC (proof of concept) in the framework of which Rentar will provide the Company with five catalytic components. Over a period of 90 days (POC period) the Company will integrate the catalytic component and the telematics system, install it into commercial vehicles of clients in Israel and then examine the results of the integrated product’s operation. In addition, the company will act to obtain authorizations and permits required for the import, distribution and sale of the component in Israel. For 21 days, from the end of the POC period, the Parties will review and evaluate the success of the POC, based on agreed-upon parameters.
- So long as the Parties agree on the success of the POC results, the Company will be entitled to order catalytic components from Rentar according to the specific times, quantities and prices stipulated in the MoU. Dependent on achieving the agreed-upon purchase quantities, the Company will be entitled to exclusivity in the distribution of the catalytic component, part of the integrated product, to the commercial trucks and buses sector; this will hold for a period of 36 months within Israel, the US, the EU, Turkey and the Persian Gulf countries (GCC).
- The Memorandum of Understanding is for an initial period of three years from the date of signing, after which it will be automatically renewed for additional periods of one year each, unless a Party notifies, 90 days in advance, of its intent not to renew the contract. Despite the aforementioned, each Party may terminate the terms of the MoU in the event that the other Party breached the MoU and this breach was not corrected within 30 days from the time correction was requested, or in the case of bankruptcy proceedings, reorganization, liquidation, receivership, appointment of a receiver, trustee or special director against the other
The abovementioned information regarding the collaboration with Rentar and details about Rentar’s activities is, to the best of the Company’s knowledge, based on the data received without the information having been examined independently by the Company. In addition, the Company cannot evaluate at this stage chances for success regarding the integration of the catalytic component within the measurement system, the satisfaction of the POC by the Parties and the marketing potential of the integrated product.
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.
