FRGT Freight Technologies Inc

Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company whose industry-leading, custom-developed, AI- and machine learning-powered Fr8App freight-matching platform offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, today announces the appointment of Dr. Umberto León-Domínguez as director of the company’s artificial intelligence (“AI”) division.

In his role as AI director, Dr. León-Domínguez will oversee the creation of a dedicated department within Fr8Tech to focus exclusively on AI developments – both boosting the company’s existing advances and also developing new AI functionalities for the supply chain industry. Fr8Tech’s aim is to optimize freight transportation efficiency and safety using AI, thereby helping to revolutionize the industry. Dr. León-Domínguez will oversee the company’s global AI operations from the operations center in Monterrey, Mexico.

Javier Selgas, CEO of Fr8Tech, commented: “We are privileged to add Dr. León-Domínguez to our team. His expertise in artificial intelligence, technological innovation and cutting edge technological developments will be invaluable to Freight Technologies as we continue applying innovative solutions for the optimization of logistics and supply chain processes.”

“It’s an honor to join the team at Freight Technologies,” Dr. León-Domínguez said. “Fr8Tech offers solutions for streamlining, optimizing and automating supply chain and logistics processes. As we further explore the applications and possibilities of artificial intelligence in this arena, we confront the challenge of integrating AI Algorithms with existing systems and establishing effective safety protocols. I’m excited for the advancements yet to be realized as we work together to further revolutionize the supply chain industry.”

About Dr. Umberto León-Domínguez

Dr. Umberto León-Domínguez is a specialist in the area of neuroscientist research and in innovation and development of digital businesses. His extensive career as a scientist has allowed him to apply his knowledge of psychology and neurosciences in the design and development of digital services.

After completing his degree and doctoral work at the Autonomous University of Madrid in Spain, he began his career in the area of technological innovation in health in 2009 in developing the Infrascanner, a biomedical device of Infrascan Inc. for the detection of portable intracerebral hematomas – a device approved by the Food and Drug Administration (FDA) and funded by U.S. Army Medical Materiel Development Activity, U.S. Marine Corps, Office of Naval Research, BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania, Ben Franklin Technology Partners of Southeastern Pennsylvania and the Philadelphia Industrial Development Corporation. In addition to the Infrascanner, he has actively participated in the development of other technological devices, such as bracelets for the parameterization of the frequency of Parkinson's tremor and a monitor to measure anesthetic depth based on or through functional spectroscopy by quasi-infrared rays.

In 2012, Dr. León-Domínguez led a national investigation for the General Department of Traffic of Spain, using artificial intelligence to classify different driving styles across the population of drivers on Spanish roads. In 2013, he became scientific director of discovershadow, an American startup based on artificial intelligence for the monitoring and quantification of dream content through an app. In 2015, he became CEO of Isbitech, a neurotechnology company engaged in the design and development of portable devices for monitoring and diagnosing brain pathologies. This initiative was selected by Telefónica OPEN FUTURE as a highly innovative project. During this year, his technological innovation received several awards, among which stands out the “Best Business Idea” of the University of Seville and a stay in Silicon Valley at RocketSpace, a technology campus headquartered in the heart of San Francisco that had other participants such as Uber, Spotify, Practice Fusion, Leap Motion and Domo.

Currently, Dr. León-Domínguez is director of the Human Cognition and Brain Studies laboratory for the School of Psychology at the University of Monterrey (“UDEM”), where he continues his research career and participates in different initiatives for the development of high-impact digital services. At the academic level, he has been a professor at the UDEM Business School "Innovation Workshop," where he has advised more than 40 business proposals and directed different degree theses, some of them based on artificial intelligence applied to business. From his lab, he cooperates with different university departments for the development of innovative proposals, such as the detection of personality variables through neurocognitive evaluations through the application of automatic learning algorithms. He is developing new technologies based on Generative Pre-trained Transformation (“GPT”) for the automatic interpretation of dreams.

To access the Statement of Intent from the Director of Artificial Intelligence in Fr8Tech, please click on the following link Dr.Leon-Dominguez Statement of Intent

About Freight Technologies Inc.

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App, Inc. (“Fr8App”), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (“OTR”) shipping. Fr8App uses its proprietary technology 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, broker, 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. Freight Technologies' and Fr8App’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 include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of its acquisition of Fr8App.

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 Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition and the ability of Fr8App to grow, manage growth profitably and retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies' other filings with the SEC. Freight Technologies 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. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App 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.

Fr8Tech Contact:

investors@fr8technologies.com

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