Freight Technologies Inc. (NASDAQ: FRGT) Reports 30% YOY Revenue Growth for Q1 2024; Projects $25-$30m Annual Revenue for 2024

 

• Fr8Tech, a tech company on a mission to revolutionize cross-border shipping, just posted 30% year-over-year (“YOY”) revenue growth and a 278% YOY growth in Fr8Fleet volume for Q1 2024
• This growth was attributed to the addition of the Fr8Fleet offering in 2022, which sought to address specific customer needs
• The company looks to build on this success by fostering even stronger relationships with existing customers and adding new customers to its network
• Its management believes that this approach will be integral in realizing its $25-$30 million annual revenue projection for the 2024 financial year

Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), a tech company on a mission to revolutionize cross-border shipping by offering carriers and shippers flexibility, visibility, and simplicity, just released preliminary financial results for the first quarter of the 2024 financial year (“Q1 2024”). Of note was the 30% revenue growth over the same period in the previous year, totaling $4.3 million. The company also reported a 25% growth in volume for Fr8Fleet from the fourth quarter of the 2023 fiscal year and a 278% year-over-year growth with approximately 3,400 completed shipments (https://nnw.fm/SjBxr).

According to the company’s management, this growth and impressive performance was primarily attributed to adding the Fr8Fleet offering, which sought to address specific customer pain points by securing dedicated carrier capacity and providing responsive, high-quality customer service.

“The company’s addition of its Fr8Fleeet offering in 2022 was the right strategic response to the market dynamics of the Mexican domestic Over the Road (“OTR”) freight industry,” noted Don Quinby, Fr8Tech’s Chief Financial Officer (“CFO”).

“It has proven to be a highly valued service for large enterprise customers and is a key differentiator for Fr8Tech,” he added.

Fr8Tech looks to build even stronger relationships with its new and existing customers. Additionally, it is committed to bolstering its carrier capacity while improving its platform’s capabilities and efficiency, which has been a game-changer in the industry. According to its CEO and Director, Javier Selgas, focusing on these aspects will allow the company to realize its 2024 annual revenue projections of between $25 and $30 million.

“Underlying economic activity in both Mexico and the US, coupled with ongoing near-shoring activity of US and foreign multinational companies, suggests continued growing demand for domestic and cross-border freight services,” noted Mr. Selgas.

“We are well positioned to take advantage of this market opportunity, and the Fr8Tech team continues to innovate to make market share gains over the coming year,” he concluded.

If recent events in the region are anything to go by, Fr8Tech anticipates a significant uptick in the demand for its products and services. Earlier in the year, railroad disruptions, owing to a surge in smuggling of migrants through Mexico, saw nearly 10,000 rail cars stranded on both sides of the border (https://nnw.fm/q4dek). Such events have forced companies to explore more reliable options, and Fr8Tech offers just that and more. With its market positioning, distinctive freight matching capabilities and easy-to-use features of its platform, the company is confident that it will bring plenty of industry participants together through Fr8App to meet its revenue projections for the year.

For more information, visit the company’s website at www.Fr8Technologies.com and its freight matching platform information site at www.Fr8.App.

NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://nnw.fm/FRGT

Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer

NetworkNewsWire
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is powered by IBN

SUIC Worldwide Holdings Ltd.’s (SUIC) I.Hart Group Expands Franchise Development Efforts with New Authorizations in China and Japan

 

• SUIC recently announced that I.Hart Group Taiwan and MONGA(C) Fried Chicken had signed franchise authorizations in Japan and China
• The franchise authorizations are expected to grow the number of stores operated by I.Hart Group to 200 outlets in 2024 and more than 500 stores over the next five years
• The authorizations covering Shandong Province in China will see the Shandong Authorized company opening ten stores during the first year and 300 stores within the subsequent five years. Japan is another authorization which will target the greater Tokyo metropolitan area
• The new authorizations are part of SUIC’s commitment to grow its footprint in the global food market and serve more customers around the world

SUIC Worldwide Holdings (OTC: SUIC) is a company helping build tech-enabled businesses of the future by providing research and development and venture financing as well as investing in enterprises that develop products and services adopting core capabilities of the Internet of Things, cloud computing, mobile payment, big data, blockchain, and artificial intelligence. SUIC is the biggest investor, shareholder, and major operating partner of Beneway USA, a company whose wholly owned subsidiary, I.Hart Group Taiwan, is making strides in the global food industry.

I.Hart Group currently operates 150 global franchised locations in different countries under various brands and products, including MONGA(C) Taiwan-style Fried Chicken, flower tea drinks, dumplings, cloud kitchen management, AI smart machines, and more. As of February 2024, I.Hart Group had a total of 90 MONGA(C) Fried Chicken stores and outlets in 10 countries (https://nnw.fm/ACIRW), but this number is set to grow following recent developments.

SUIC recently announced that I.Hart Group and MONGA(C) Fried Chicken had signed franchise authorizations in Japan and China, which are expected to expand significantly the presence of both companies by growing the number of I.Hart Group’s MONGA(C) Fried Chicken outlets initially to 95, across 11 countries (https://nnw.fm/VWm7a).

The authorizations in China cover 16 cities across Shandong, China’s second-largest province, with a population of more than 100 million. According to SUIC, the Shandong Authorized company has committed to opening ten stores during the first year and 300 stores within the subsequent five years. To make this ambitious goal a reality, I.Hart Group and the Shandong Authorized company, in conjunction with at least 50 or more franchise owners every year, will work together to operate MONGA(C) Fried Chicken stores in various locations within the province.

Additionally, the signed franchise authorizations in Japan cover the expansive city of Tokyo and its surrounding satellite cities, home to more than 38 million people. The authorizations aim to tap into the region’s status as the world’s largest metropolitan area, representing a potentially large market for the stores. Moreover, the Greater Tokyo metropolitan area’s GDP is second only to the New York metropolitan area, signaling the health of the city’s economy and, by extension, the ability of its populace to buy consumer goods like the food offered at the MONGA(C) Fried Chicken outlets.

“We dedicate our team and resources to the success and expansion of our franchise development efforts and global transformation journey. We will continue to increase this momentum in 2024 and find opportunities in serving more customers around the world, growing our footprint in the global food market by tenfold,” commented Hank Wang, SUIC CEO.

According to the company, the new franchise authorizations will lead to the opening of new franchises, increasing the number of stores operated by I.Hart Group to 200 outlets in 2024 and more than 500 stores over the next five years.

For more information, visit the company’s website at www.SinoUnitedCo.com.

NOTE TO INVESTORS: The latest news and updates relating to SUIC are available in the company’s newsroom at https://nnw.fm/SUIC

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer

NetworkNewsWire
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is powered by IBN

Distributed Energy Solutions Provider Correlate Energy Corp. (CIPI) Uses Quality Toolkit and Financing Incentives to Help Clients Go Affordably Green

 

• Industrial and commercial buildings are responsible for a significant amount of the carbon emissions affecting the planet’s climate, according to pollution experts
• Correlate Energy Corp. is a distributed energy solutions company, focusing on the North American market, that is dedicated to helping client companies improve their energy use profiles, reducing emissions while maintaining their budgets
• Correlate is strategically positioned to leverage government financial incentives on its clients’ behalf, as well as offering an array of modern, targeted tools to achieve data-driven solutions
• The company currently has about $150 million of in-progress projects in various stages of development

The drive to reduce carbon emissions and improve energy use efficiency for corporate and government office buildings is increasingly driving strategy sessions on climate change, amid efforts to meet the goals of the past decade’s UN-brokered Paris Agreement to battle carbon-based pollution worldwide.

In the European Union, where the ruling council announced earlier this month that it has formally adopted the more stringent climate plan regulations of its Energy Performance of Buildings Directive (https://nnw.fm/kQ3xk), buildings account for about 40 percent of the league of states’ energy consumption, with more than half of its gas consumption and 35 percent of the energy-related greenhouse gas emissions (https://nnw.fm/zW3tF).

Distributed energy solutions company Correlate Energy (OTCQB: CIPI) is welcoming the international attention on industrial and commercial building energy use. The company has demonstrated the ability to create stockholder value while facilitating this building utility trend, offering to finance, develop, and profitably sell localized clean energy solutions and microgrids to industrial, commercial, and residential customers.

Correlate’s focus is on the North American market, working with government incentives and other financial opportunities to help clients find an affordable way to step up their energy use infrastructure.

“We have this constant conveyor belt of a maturity of opportunities (that) really allows us to smartly invest in different parts of the business from origination of sales to construction and oversight,” Correlate Energy President and CEO Todd Michaels told Proactive Investors (https://nnw.fm/QreQY). “Solar’s the most applicable technology. Right now it’s basically beating the grid for costs … so that’s the lead horse. In behind that comes things like batteries, where if somebody wants to have resiliency — let’s say the grid goes down in Texas or California or the Northeast, which is very prevalent nowadays — things like storage can allow them to have 24 / 7 uninterrupted operations.”

By leveraging opportunities with clients that have dozens of locations across the country, Correlate is providing retrofit upgrades at a number of sites, while positioning itself to scale up by retaining ownership of some of its energy systems and acquiring promising renewable energy companies.

The company currently has about $150 million worth of projects being completed, according to its officers.

Correlate announced a partnership with Carbonsight (by Autocase) in February that is strengthening its ability to take a data-driven approach to its decarbonization planning process. The Carbonsight software makes it easier for building portfolio managers to quantify costs, savings and timelines for putting their targeted energy projects into motion (https://nnw.fm/xJxEF).

The company is also utilizing Xendee’s distributed energy resource platform as a tool to effectively complete the site analysis process and design proposals for projects, Chief Product Officer Leif Elgethun said in a recent webinar.

With cutting-edge tools and financing options that were unknown just a few years ago, the company is becoming a significant partner in the worldwide effort to reduce carbon emissions.

For more information, visit the company’s website at www.Correlate.Energy, including the following:

Breaking Down Barriers To Your ESG Goals While Generating Additional Net Operating Income: www.Correlate.Energy/our-process
Platform Generates New Rent And Operating Income, Allowing You To Meet Your ESG Goals: www.Correlate.Energy/program

NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://nnw.fm/CIPI

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer

NetworkNewsWire
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is powered by IBN