Freight Technologies Secures Win with Bayer
Freight Technologies, Inc. (Nasdaq: FRGT) has secured a significant contract with Bayer CropScience LP for the 2025 season. Fr8App, a subsidiary of Fr8Tech, has been awarded six essential cross-border lanes to provide truckload services for Bayer's various business units in the United States. This strategic win comes after a competitive Request for Proposal process and marks a major advancement in Fr8Tech's cross-border over-the-road (OTR) offering.
The selection aligns with Bayer's goals of supplier consolidation, cost optimization, cross-divisional synergies, and enhanced carrier performance. Fr8App will focus on facilitating seamless and secure transportation across the US-Mexico border, ensuring timely and reliable delivery of Bayer's agricultural products.
Freight Technologies, Inc. (Nasdaq: FRGT) ha ottenuto un contratto significativo con Bayer CropScience LP per la stagione 2025. Fr8App, una sussidiaria di Fr8Tech, è stata incaricata di sei importanti corsie transfrontaliere per fornire servizi di carico completo per le varie unità operative di Bayer negli Stati Uniti. Questa vittoria strategica arriva dopo un processo competitivo di Richiesta di Proposta e segna un importante progresso nell'offerta di trasporto transfrontaliero (OTR) di Fr8Tech.
La selezione è in linea con gli obiettivi di Bayer di consolidamento dei fornitori, ottimizzazione dei costi, sinergie tra divisioni e miglioramento delle performance dei vettori. Fr8App si concentrerà nel facilitare un trasporto fluido e sicuro attraverso il confine tra Stati Uniti e Messico, garantendo una consegna tempestiva e affidabile dei prodotti agricoli di Bayer.
Freight Technologies, Inc. (Nasdaq: FRGT) ha conseguido un contrato significativo con Bayer CropScience LP para la temporada 2025. Fr8App, una subsidiaria de Fr8Tech, ha sido adjudicada con seis rutas transfronterizas esenciales para proporcionar servicios de carga completa para las diversas unidades de negocio de Bayer en los Estados Unidos. Esta victoria estratégica se produce tras un competitivo proceso de Solicitud de Propuestas y marca un importante avance en la oferta de transporte transfronterizo (OTR) de Fr8Tech.
La selección se alinea con los objetivos de Bayer de consolidación de proveedores, optimización de costos, sinergias interdepartamentales y mejora del rendimiento de los transportistas. Fr8App se enfocará en facilitar un transporte fluido y seguro a través de la frontera EE. UU.-México, asegurando la entrega oportuna y confiable de los productos agrícolas de Bayer.
Freight Technologies, Inc. (Nasdaq: FRGT)는 2025 시즌을 위해 Bayer CropScience LP와 중요한 계약을 체결했습니다. Fr8App, Fr8Tech의 자회사는 Bayer의 다양한 비즈니스 유닛을 위해 여섯 개의 필수 국경 초월 노선을 제공하는 트럭 화물 서비스를 수주했습니다. 이번 전략적 승리는 경쟁적인 제안 요청 절차를 통해 이루어졌으며, Fr8Tech의 국경을 초월한 육상(OTR) 서비스에서 중대한 진전을 의미합니다.
선택은 Bayer의 공급업체 통합, 비용 최적화, 부서 간 시너지 및 캐리어 성능 향상 목표와 일치합니다. Fr8App는 미국-멕시코 국경을 통해 원활하고 안전한 운송을 촉진하고, Bayer의 농산물을 시기 적절하고 신뢰할 수 있게 배송하도록 할 것입니다.
Freight Technologies, Inc. (Nasdaq: FRGT) a signé un contrat important avec Bayer CropScience LP pour la saison 2025. Fr8App, une filiale de Fr8Tech, a remporté six corridors transfrontaliers essentiels pour fournir des services de chargement complet aux différentes unités commerciales de Bayer aux États-Unis. Cette victoire stratégique est survenue après un processus compétitif de demande de propositions et représente une avancée majeure dans l'offre de transport transfrontalier (OTR) de Fr8Tech.
La sélection est en ligne avec les objectifs de Bayer en matière de consolidation des fournisseurs, d'optimisation des coûts, de synergies inter-divisionnelles et d'amélioration des performances des transporteurs. Fr8App se concentrera sur la facilitation d'un transport fluide et sécurisé à travers la frontière américano-mexicaine, garantissant une livraison ponctuelle et fiable des produits agricoles de Bayer.
Freight Technologies, Inc. (Nasdaq: FRGT) hat einen bedeutenden Vertrag mit Bayer CropScience LP für die Saison 2025 gesichert. Fr8App, eine Tochtergesellschaft von Fr8Tech, wurde mit sechs wichtigen grenzüberschreitenden Routen beauftragt, um Komplettladungsdienste für die verschiedenen Geschäftsbereiche von Bayer in den Vereinigten Staaten anzubieten. Dieser strategische Erfolg kommt nach einem wettbewerbsintensiven Ausschreibungsprozess und stellt einen wichtigen Fortschritt im grenzüberschreitenden Transportangebot (OTR) von Fr8Tech dar.
Die Auswahl stimmt mit den Zielen von Bayer überein, die Lieferantenkonsolidierung, Kostenoptimierung, abteilungsübergreifende Synergien und verbesserte Leistung der Transportdienstleister beinhalten. Fr8App wird sich darauf konzentrieren, einen reibungslosen und sicheren Transport über die US-mexikanische Grenze zu ermöglichen, um eine zeitgerechte und zuverlässige Lieferung der landwirtschaftlichen Produkte von Bayer sicherzustellen.
- Secured contract with Bayer CropScience LP for the 2025 season
- Awarded six essential cross-border lanes for truckload services
- Expansion of cross-border OTR offering in the competitive logistics market
- Alignment with Bayer's strategic goals for supply chain optimization
- None.
Insights
Freight Technologies' (FRGT) win with Bayer CropScience LP signifies a strategic advancement in the competitive logistics market. This partnership demonstrates FRGT's growing prominence in cross-border logistics, particularly in the important US-Mexico corridor. The deal's focus on supplier consolidation and cost optimization aligns with broader industry trends towards efficiency and synergy in supply chain management.
While specific financial details are not disclosed, securing six essential cross-border lanes from a global leader like Bayer is likely to have a positive impact on FRGT's revenue stream and market position. This contract win could potentially lead to increased investor confidence in FRGT's growth trajectory and technological capabilities in the logistics sector.
Fr8App's selection by Bayer underscores the growing importance of technology-driven solutions in logistics management. The company's diverse portfolio of innovations appears to be addressing critical challenges in the supply chain ecosystem effectively. Fr8App's ability to secure this contract suggests that its platform offers superior capabilities in managing complex cross-border operations, likely incorporating features such as real-time tracking, predictive analytics and seamless integration with existing systems.
This partnership could accelerate Fr8App's technological development, potentially leading to enhanced features and capabilities that could be leveraged to win more high-profile clients in the future. Investors should monitor how this collaboration drives Fr8App's innovation roadmap and market differentiation.
Fr8App expands cross-border truckload services with several lanes awarded by Bayer CropScience LP
HOUSTON, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced its selection by Bayer CropScience LP (“Bayer”), a division of Bayer AG, as a key logistics provider for the 2025 season. Following a Request for Proposal process, Fr8App has been awarded six essential cross-border lanes to provide truckload services for Bayer’s various business units in the United States.
This strategic win marks a significant step forward for Fr8Tech as it continues to advance its cross-border over-the-road (OTR) offering in the competitive logistics market. Bayer CropScience LP, a global leader in agricultural products, selected Fr8App to support its key goals of supplier consolidation, cost optimization, cross-divisional synergies, and enhanced carrier performance. Aligned with Bayer’s mission, Fr8App’s role will focus on facilitating seamless and secure transportation across the US-Mexico border, ensuring timely and reliable delivery of Bayer’s agricultural products.
“This Bid Award from Bayer is an important milestone for Fr8App, reflecting the strength of our technology and the trust major global brands place in our ability to execute complex cross-border logistics,” said Javier Selgas, CEO of Fr8Tech. “We are honored to be part of Bayer’s strategy for optimizing supply chain efficiency, and we are committed to exceeding their expectations in the 2025 season and beyond.”
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for seamless OTR B2B cross-border shipping across the USMCA region; Fr8Now, a specialized service for less-than-truckload (LTL) shipping; Fr8Fleet, a dedicated capacity service for enterprise clients in Mexico; and Waavely, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide. Together, each product is interconnected within a unified 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, brokerage support, 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. Fr8Tech’s and Fr8App Inc.’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 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 Fr8Tech’s and Fr8App Inc.’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to obtain or maintain the listing of Fr8Tech’s ordinary shares on Nasdaq; (2) changes in applicable laws or regulations; (3) the possibility that Fr8Tech or Fr8App Inc. may be adversely affected by other economic, business and/or competitive factors; (4) risks relating to the uncertainty of the projected financial information with respect to Fr8App Inc.; (5) risks related to the organic and inorganic growth of Fr8App Inc.’s business and the timing of expected business milestones; and (6) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in ’Fr8Tech other filings with the Securities Exchange Commission.
Fr8Tech 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. Fr8Tech and Fr8App Inc. caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Fr8Tech and Fr8App Inc. 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.
FAQ
What contract did Freight Technologies (FRGT) secure with Bayer CropScience LP?
How does the Bayer contract impact Freight Technologies' (FRGT) cross-border operations?
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