HOUSTON– Nov 30, 2022 — Freight Technologies, Inc. (Nasdaq: FRGT), (“Fr8Tech”), a technology company based on its custom-developed Fr8App platform, is powered by AI and machine learning and offers a real-time portal for B2B cross-border shipping and domestic shipping within the United States-Mexico-Canada (NAFTA) region, expands its training program, Fr8University, by directly collaborating with one of the most prestigious private Universities in Mexico.
Fr8University, an educational program offering classroom and on-the-job training for incoming Fr8Tech team members and university students, was started in late 2020 and matriculated its first graduating class in early 2021. Fr8University is now moving beyond training and hiring students by directly entering into a collaborative agreement with a leading University in Mexico to secure the company’s access to talent with the view to ensuring continuity in the Company’s growth as well as providing academia with access to real-time business experiences and technology development challenges.
Mario Mena, HR director at Fr8App, said, “We have established a University-Company collaboration model, where an alliance has been created for educational reinforcement through the development of specific projects around new technologies. With this, we reaffirm our commitment to keep innovating at all times and collaborate with the professional learning community. The market for talent in our sector is increasingly impacting companies within the sector and we believe this alliance will give us a leg up on our competitors while providing a leading university with some unique offerings for its student body.”
Javier Selgas, CEO of Fr8Tech, said, “The students will be immersed in the logistics world by participating in our Fr8University program. With the knowledge gained from our program and their understanding of computer science, the Company gains insights on the latest trends in technology and the students get to have a real impact on some live projects taking place at our company.”
Fr8University program was initially designed to develop our collaborators by providing training in an extensive list of topics in different areas that facilitated their successful incorporation into the truckload freight industry value chain workspace. Now, Fr8University is expanding its program scope by creating alliances with universities, where university talents have the opportunity to collaborate on real projects that add value to our operation.
About Freight Technologies Inc.
Freight Technologies (Fr8Tech, Nasdaq: FRGT) 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 NAFTA 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
Forward Looking Statements
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, you 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 the acquisition.
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 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, the ability of Fr8App to grow and 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 by 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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