Fr8App Awarded Key Routes with Envases Universales

Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company whose custom-developed, industry-leading Fr8App freight-matching platform offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, is proud to announce a significant collaboration with Envases Universales, one of the largest packaging companies worldwide. Fr8App was awarded key routes through Envases’ annual 2024 RFQ, underscoring Fr8App’s commitment to delivering exceptional transportation services and its capability to meet the evolving needs of its clients.

Over the next twelve months, the awards are estimated to be valued at more than $5 million and encompass 24 dedicated lanes, mostly from Mexico to the United States, showcasing Fr8App’s extensive network and ability to manage cross-border logistics efficiently. Over the duration of the commitment, Fr8App, through its advanced technology and experienced team, will be responsible for transporting more than 1,600 loads, ensuring the timely and secure delivery of Envases Universales’ goods.

“We are thrilled to have been chosen by Envases Universales to help manage their transportation needs over the coming year,” said Fr8App’s CEO, Javier Selgas. “This collaboration not only speaks to our capabilities but also to the trust Envases Universales has in our ability to deliver exceptional service. It also highlights the importance of tactical collaboration between the companies in driving profitable growth and achieving excellence in dependable and efficient logistics execution.”

It is important to note that the value of the awarded routes may be subject to change based on the production levels or needs of Envases Universales. If Envases Universales experiences lower than expected customer demand or production output, the amount of the awarded routes may be adjusted accordingly. We consider this a low-probability outcome given Envases Universales’ market leadership in its industry.