Genesis Electronics Group’s Subsidiary Glīd Partners With Sensored Technologies, Inc To Bring The New Era of Digital Anti-theft Technology To The Shipment Of Cargo And Freight

Salt Lake City, UT, July 20, 2023 (GLOBE NEWSWIRE) -- Salt Lake City, UT – July 20, 2023 – Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has entered into a partnership agreement with Sensored Technologies, Inc., the maker of a first-of-its-kind, IoT, patent-pending, NFC-powered, cloud-based, real-time data security digital cargo theft solution called CargoSecure.

Led by Founder and Chief Executive Officer Mr. David Craig, Sensored Technologies, Inc., is an IoT, SaaS-based technology company with a key interest in solving big problems in the supply chain and commercial transportation space.

Currently, the company is working on developing the first NFC-enabled cargo theft locking solution called CargoSecure, which will consist of the web-based CargoSecure software platform, mobile application, and its CS1 hardware. It will be the first cost-effective, digital, and cloud-based mobile solution introduced to the market, turning an NFC-enabled device like a mobile phone or reader into the key.

Cargo theft is a very big problem for all stakeholders, currently estimated to cost the US economy 15-35 billion dollars annually according to the . CargoSecure’s mission is to deter, secure and prevent these all too frequent occurrences from taking place by deploying technology that will eliminate less secure devices such as truck seals or padlocks, that are passive, and offer no real-time data or situational awareness. These features will lower operational costs, and reduce daily costly delays that result from cargo theft on road and rail operations.

Mr. Craig commented, “Through this strategic partnership, Glīd and CargoSecure are set to redefine the logistics landscape, ensuring end-to-end security, transparency, and efficiency for our business partners and their customer's freight as they are transported by road and rail. The seamless integration of Glīd’s autonomous capabilities with CargoSecure’s digital and battery-free NFC smart lock solution promises to unlock new possibilities in cargo transportation, forging a path toward a smarter safer, and more sustainable future. I speak for everyone at Sensored Technologies, Inc., when I say we are very excited about this partnership and look forward to the road and rails ahead with Glīd.”

Through cutting-edge technology, CargoSecure requires no cables, wires, or batteries for power, an important advantage for assets like truck trailers and containers that are often on the move and in the field. This is achieved through an emerging technology called NFC induction that uses the power of the NFC-enabled device for power. The authorized user simply needs to make contact with the CS1 and their device to unlock or lock cargo doors.

Having battery-free power means that customers won’t have to worry about reliability or establishing a costly maintenance schedule in order to change batteries. The ability to offer power without batteries also means CargoSecure is an environmentally friendly solution, helping companies achieve ESG goals while diverting millions of batteries from landfill.

“We are excited to add yet another safety feature to our product offering to protect our Customer’s commodities while in transit”, stated Kevin Damoa, CEO of Genesis Electronics Group and Glīd. ”We feel CargoSecure’s technology addresses a fundamental problem now and will be vital in combating advanced forms of cargo theft in the future, such as EMPs. With the world quickly transitioning to autonomous electrified transportation, having a redundant way to notify authorities while safeguarding cargo in the event of a theft, is an absolute requirement and we are excited to partner with a team to strengthen the safety and security systems on our Glīders.”

With the future development of their technology, CargoSecure has focused on supplying a needed safeguard to the US trucking industry (worth about $732B dollars in 2020 according to ) along with the US railroad industry (worth approximately $80B dollars in 2020 according to the ).

With this partnership Genesis Electronics Group, Inc. and Sensored Technologies, Inc., plan on co-developing the needed hardware and software application and offering its technology as a SaaS-based business model (and will be apart of the “Glīder-as-a-Service” business model), providing its customers with increased security, safety, liability, and risk protection.

About Genesis Electronics Group, Inc.

Genesis Electronics Group, through Its wholly-owned subsidiary Glīd, is building first of Its kind autonomous road-to-rail shipping vehicles called Glīders. Glīders will enable fully-loaded semi- trailers access to rails where traditionally it didn’t make sense. Genesis Electronics Group plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.

About Sensored Technologies, Inc.

Sensored Technologies, Inc., is an IoT technology company focused on solving big business challenges in the commercial transportation and logistics space. Through Its brand CargoSecure, it is building the first of Its kind IoT, digital, cloud-based, and battery-free cargo theft security solution. CargoSecure will provide its customers the ability to have heightened security, safety, real-time situational awareness, liability, and risk protection, eliminating ineffective solutions like truck seals and padlocks in the process. Sensored Technologies, Inc., plans on offering its customers sales, installation, and service of its CS1 hardware through an annual SaaS business model.

Forward-Looking Statements

This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.

Press Contact:

Genesis Electronics Group, Inc.