Whirlpool de Mexico awards contract to Fr8App as part of its Logistics Platform to Enhance Efficiency and Sustainability
Fr8App Enables Whirlpool de Mexico to Streamline Domestic Shipping Operations and Reduce Environmental Impact.
HOUSTON – Mar. XX, 2023 – Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a leading technology company in the freight-matching industry, has been awarded a contract with Whirlpool Mexico, S. de R.L. de C.V. Fr8Tech’s custom-developed Fr8App platform, which uses AI and machine-learning technology to power its freight-matching services, will provide Whirlpool Mexico with a real-time portal for B2B domestic shipping.
Fr8App’s innovative platform connects shippers and carriers in real-time, providing end-to-end visibility into the supply chain. The platform’s AI and machine-learning algorithms match shippers with carriers, optimizing routing and reducing transportation costs. Fr8App’s real-time tracking capabilities allow shippers and carriers to monitor shipments from start to finish, increasing efficiency and reducing the risk of delays or damage. The Fr8App platform, the workings behind it and the features it provides will all ultimately help enhance its users efficiency and sustainability.
Whirlpool contact said, “At Whirlpool, we take pride in our ongoing commitment to sustainability and reducing our environmental impact. Partnering with Fr8app has been instrumental in helping us achieve this goal, by providing efficient and eco-friendly shipping solutions for our domestic Mexico logistics operations. With Fr8app’s support, we have been able to streamline our logistics and reduce our carbon footprint, all while continuing to deliver high-quality products to our customers. We look forward to continuing our business relationship with Fr8app”
“This is an important endorsement of our offering – signing a contract with Whirlpool de Mexico Whirlpool, leading global manufacturer of home appliances,” said Javier Selgas, CEO of Fr8Tech. “By leveraging our advanced technology and expertise in the freight industry, we are confident that we can help Whirlpool de Mexico streamline its logistics operations and enhance its efficiency with a net result of helping improve our environment. We look forward to working closely with Whirlpool de Mexico and supporting their continued growth and success.”
Fr8Tech’s Fr8App platform is revolutionizing the freight-matching industry with its advanced technology and real-time capabilities. The platform offers a comprehensive suite of features, including route optimization, real-time tracking, and automated invoicing, making it the preferred choice for shippers and carriers across the USMCA region.
About Whirlpool Mexico, S. de R.L. de C.V.
Whirlpool Corporation (NYSE: WHR) is committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. In an increasingly digital world, the company is driving purposeful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit, Yummly and InSinkErator. In 2022, the company reported approximately $20 billion in annual sales, 61,000 employees and 56 manufacturing and technology research centers. Additional information about the company can be found on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary Freight App, Inc. (“Fr8App”) is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (OTR) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Freight Technologies’ and Fr8App’s actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of its acquisition of Fr8App.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition and the ability of Fr8App to grow, manage growth profitably and retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies’ other filings with the SEC. Freight Technologies cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
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