Light Speed Logistics Upgrades Mixed Fleet With ORBCOMM’s Next-Gen Asset Management Solutions

Rhea-AI Summary

ORBCOMM Inc. (Nasdaq: ORBC) has strengthened its long-term partnership with Light Speed Logistics, enhancing real-time connectivity for their refrigerated fleet. Light Speed is retrofitting its fleet with ORBCOMM's next-gen cold chain monitoring and solar-powered asset management solutions ahead of the 3G wireless sunset in 2021. The upgrade ensures compliance with the Food Safety Modernization Act, improves operational efficiency, and enhances customer service. This collaboration underscores ORBCOMM's position as a leader in IoT solutions for logistics and transportation.

Positive

• Strengthened partnership with Light Speed Logistics enhancing real-time connectivity.
• Updating refrigerated fleet ensures compliance with food safety regulations.
• Improvements in operational efficiency and customer service expected.

Negative

• None.

Extends successful, long-term relationship with ORBCOMM for real-time connectivity, visibility and traceability of reefers and dry vans and protection from network obsolescence

ROCHELLE PARK, N.J., May 18, 2021 (GLOBE NEWSWIRE) -- ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced that Light Speed Logistics (Light Speed), a Canada-based company offering trucking, shipping, hauling, freight and logistics services throughout North America, has begun the retrofit of their refrigerated fleet with ORBCOMM’s next generation, cold chain monitoring solution in preparation for the sunsetting of 3G wireless service, which will commence at the end of 2021. Light Speed will also begin using ORBCOMM’s latest solar-powered asset management solution for their new dry van trailers.

Light Speed is upgrading their refrigerated trailers with ORBCOMM’s advanced telematics solution to track the freight’s location and temperature, providing peace of mind that their loads are compliant and meeting customers’ standards for quality and service. By extending the lifecycle of their IoT devices and ensuring protection against network obsolescence as a result of the 3G sunset, Light Speed will ensure consistent and reliable communications throughout the supply chain for the long term. Trusted by the biggest names in transportation, ORBCOMM’s cold chain solutions help Light Speed protect their customers’ cargo, reduce the risk of spoiled goods and help comply with the FDA’s Food Safety Modernization Act (FSMA) regulations, while increasing operational efficiency and improving customer service.

Leveraging ORBCOMM’s telematics double play offering, Light Speed will begin deploying ORBCOMM’s trailer tracking solution, which features a high-sensitivity solar panel and built-in cargo sensor, gaining complete visibility and control over their mixed fleet. ORBCOMM’s solution enables Light Speed to access live and scheduled status updates whether their trailers are in transit or in the yard, so they always know where their trailers are located and if they are empty or loaded, improving turn times and yard management while saving their drivers time and fuel. ORBCOMM’s trailer telematics solution also provides Light Speed with the unique ability to see precise data to schedule trailer maintenance, inspections and time elapsed for increased asset utilization and performance.

“It's great to see long-time customers like Light Speed Logistics continue to evolve their telematics deployments by taking advantage of ORBCOMM’s next-gen IoT technology to enhance their fleet operations,” said Christian Allred, ORBCOMM’s Executive Vice President and General Manager of Global Sales. “With ORBCOMM’s double play offering, Light Speed can stay connected to their refrigerated and dry assets, while achieving greater efficiency and better customer service.”

“We’ve been an ORBCOMM customer for over five years and have been pleased with the reliability and performance of their refrigerated solution in maintaining cargo temperature integrity during our custody and reducing our claims and insurance costs,” said Gurpreet Randhawa, Owner of Light Speed Logistics. “Now that we’re adding ORBCOMM’s trailer tracking solution to our fleet, we’ll have full visibility to all of our assets at any given time and are confident that our technology investment will provide reliable and secure telematics solutions for the future.”

About ORBCOMM Inc.
ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com. You can also connect with ORBCOMM at https://blog.orbcomm.com, on Twitter at @ORBCOMM_Inc, at https://www.linkedin.com/company/orbcomm or at https://www.youtube.com/c/ORBCOMM_Inc.

Forward-Looking Statements
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

ORBCOMM Contacts
For Corporate Relations:	For Trade Media:
Michelle Ferris	Sue Rutherford
Senior Director of Corporate Communications	VP of Marketing
+1 703.462.3894	+1 613.290.1169
ferris.michelle@orbcomm.com	rutherford.sue@orbcomm.com
investorrelations@orbcomm.com	mediarelations@orbcomm.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c867ceee-e8af-42b1-bd1e-d09102fab1e7

FAQ

What is the recent partnership announcement involving ORBCOMM?

ORBCOMM announced a strengthened partnership with Light Speed Logistics to enhance real-time connectivity for their refrigerated fleet.

What solutions is Light Speed implementing from ORBCOMM?

Light Speed is retrofitting its fleet with ORBCOMM's cold chain monitoring and solar-powered asset management solutions.

Why is Light Speed upgrading its fleet with ORBCOMM solutions?

The upgrade is part of preparations for the sunset of 3G wireless service, ensuring compliance and improved operational efficiency.

How does this partnership benefit Light Speed Logistics?

It provides improved monitoring and control of their fleet, ensuring compliance with food safety regulations and enhancing customer service.