Freight Technologies Selected by Nestlé Mexico to Provide Domestic Logistics Services

HOUSTON, Dec. 09, 2024 (GLOBE NEWSWIRE) -- (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 that global food and beverage leader, Nestlé Mexico, has selected Fr8App to support its domestic logistics operations.

Following an extensive service provider evaluation process, Nestlé Mexico chose Fr8App to support its complex logistics needs in Mexico due to the Company’s proven ability to meet the critical standards of quality, safety, and efficiency. This selection underscores Fr8App's capabilities and commitment to excellence in delivering world-class logistics solutions.

Javier Selgas, CEO of Fr8Tech, stated, "We are honored to have been selected by Nestlé Mexico for such an important role in servicing their vital logistics operations. This significant achievement is the result of our ongoing dedication to safety, reliability, and proficiency across our offerings, as well as our capacity to meet the rigorous quality standards and high levels of customer service expected from respected global leaders, such as Nestlé. Our team is excited to support the success of Nestlé's domestic logistics operations and is fully prepared to meet and exceed their expectations."

Nestlé, a Fortune 500 company and world-renowned food and beverage company known for its innovation and high standards, has entrusted Fr8App with the responsibility of supporting the seamless transportation of its products across Mexico. Under the initial two-year agreement, Fr8App will deploy its advanced, freight-matching technology to optimize over-the-road shipments across numerous Mexican lanes. By providing reliable, efficient and cost-effective service to these operations, Fr8Tech continues to position itself as a key player in the competitive logistics landscape.

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 platform for seamless OTR B2B cross-border shipping across the USMCA region; , a specialized service for less-than-truckload (LTL) shipping; , a dedicated capacity service for enterprise clients in Mexico; and , 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 .

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.