Trucknet signed a Memorandum of Understanding (MOU) with the Bosch Group, a multinational German technology company dealing with the manufacture of systems and parts for a variety of sectors, including the automotive industry.
Bosch will test Trucknet’s technology in order to examine integration into its cloud-based artificial intelligence platform that is under development by the company. The two companies will explore the possibility of carrying out a joint venture, or another type of cooperation, in which the goal of Bosch is to introduce digital solutions for third-party suppliers. In addition, the two companies aim to develop business connections to promote the products and services offered by the Parties.
The use of Trucknet’s solutions can lead to optimization of commercial transport and vehicle fleet management. This will be achieved from the Company’s ability to offer appropriate management user interface for drivers and the end customer, a digital tender system for automatically matching cargo with available space in trucks based on location, and an online tool for calculating and reducing CO2 emissions of vehicle fleets.
Israel, 14 September 2022 (TA: Tran) Trucknet informs that on 13 September 2022 an MOU was signed, for the use of the Trucknet platform, with the German Bosch Group (Robert Bosch GmbH) that developed an internet cloud-based platform for commercial transport and fleet vehicle management within the Digital Marketplace in Europe. According to the MOU, the German corporation will examine Trucknet’s technology competencies for integration into the Bosch platform.
According to the Agreement, Bosch will test the company’s technology for improving efficiency of the organization’s commercial transport system and vehicles fleet and subsequently achieving optimization. Bosch is aiming to integrate Trucknet’s technology into an online interface for commerce, under development, in the framework of a digital marketplace currently being established.
The guidelines for the planned cooperation between the Parties, according to the document, are as follows:
- The Parties will develop business connections to promote the products and services offered by the Parties;
- The Parties will carry out activities together in order to verify the interests of the Parties in finding a joint solution to be offered to the market, including holding joint meetings with potential clients;
- The Parties will hold continuous conversations regarding cooperation and development processes.
According to the MoU, the Parties will promote this cooperation at their discretion, while their rights and obligations regarding business collaboration will be determined in a detailed and binding Agreement.
As conveyed to the Company, and as part of assessing the cooperation, Bosch will examine the possibility of integration of components from the Trucknet platform into the system developed by Bosch.
In the document it was clarified that if the Parties do not reach agreement and a detailed Agreement is not signed within the period mentioned above (including extension by agreement), the MoU will not commit the Parties, except for the mutual commitment of the Parties to maintain confidentiality as determined in the document.
The abovementioned information regarding the collaboration with Bosch is, to the best of the Company’s knowledge, based on the data it holds without the information having been examined independently by the Company. In addition, the Company cannot evaluate at this stage chances for having a contract between the Parties in a binding Agreement, if at all.
To the understanding of the Company, Trucknet’s technologies could assist in optimizing the transport system of the German company through the reduction of empty truck travel and digitization of supply chain processes, as part of efforts to reduce polluting emissions through the use of the technology to calculate emissions online.
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.
