Supply Chain

Overhaul Raises $35 Million in Series B Funding to Accelerate Growth

Overhaul, the world's first and only software-based supply-chain visibility, integrity, and security solution for the world's largest brands, announced a $35 million Series B fundraising round. Macquarie Capital is leading the latest round, with Edison Partners and Avanta Ventures also investing (the venture arm of CSAA Insurance Group). Overhaul intends to use the investment to accelerate its plan for further optimizing its current category-creating products.

Overhaul, founded in 2016, has grown to be a trusted provider of supply-chain technology for Fortune 100 companies that move freight globally for pharmaceutical and healthcare, technology, logistics, and food and beverage, having covered billions of dollars in cargo in recent years. Despite the epidemic, the firm announced a $17.5 million Series A growth equity investment headed by Edison Partners in 2020, laying the groundwork to triple its success from the previous year. Overhaul's total investment now stands at $55 million due to earlier fundraising rounds provided by Macquarie Capital Principal Finance.

Overhaul intends to optimize the supply-chain business with transformative software solutions that will give visibility and security in a post-pandemic era, focusing on developing a $19 billion global supply-chain sector. The previous year offered several insights to the supply chain, most notably highlighting the necessity for enterprises to create and maintain effective and proactive risk-management solutions as part of their business resiliency and agility toolset. Overhaul has introduced its newest service, "TruckShield," a market-leading risk-management technology solution for North American motor carriers that utilizes current fleet hardware to identify risky or unlawful driving behaviors.

In the coming months, the company will expand its global team with numerous key hires in software development, product, sales, marketing, and talent development teams across the United States, Mexico, and Ireland while innovating across its two core products Overhaul Sentinel and TruckShield.

About Overhaul
Overhaul, founded in 2016 and located in Austin, Texas, is the industry's first and only holistic, end-to-end solution that optimizes global organizations' supply-chain visibility, integrity, and security. Its software-based solution provides supply-chain enterprises with great configurability and rapid time-to-value without the heavy tech debt associated with hardware-based suppliers. Furthermore, Overhaul's logistics-experts team collaborates with each customer to provide a completely customized and comprehensive solution for the complete supply chain, rather than just portions of it. As a result, Overhaul has swiftly established itself as a trusted source for Fortune 100 companies transporting freight abroad in areas such as pharmaceutical and healthcare, technology, logistics, and food and beverage. Microsoft, Bristol-Myers Squibb, Gordon Food Service, and many more companies are among our clients.

About Macquarie Capital
Macquarie Capital is Macquarie Group's advising, capital markets, and major investing arm. Our capabilities include corporate advising services and a broad range of capital solutions, such as capital raising services from stock, debt, private capital markets, and principal investments from Macquarie's balance sheet. These services are bolstered by our extensive industry knowledge in aerospace, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials, infrastructure and energy, real estate, resources, services, technology, and telecommunications and media.

Macquarie Capital Principal Finance, the principal investment arm of Macquarie Capital Advisory and Capital Solutions, offers corporate and commercial real estate customers in North America, Europe, and Australasia flexible primary financing and secondary market investment solutions. Since 2009, the company has made approximately $35 billion in over 580 investments.

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Operations, Supply Chain, Transportation

CPKC Joins RailPulse Coalition Driving Innovation in Railcar Telematics

PR Newswire | February 02, 2024

Canadian Pacific Kansas City (CPKC) today announced its membership in the RailPulse Coalition. RailPulse, founded by a dynamic consortium of forward-thinking railcar owners, is working to develop, broaden and accelerate the use of GPS and other telematics technologies on railcars that increase safety, efficiency, and visibility across North America's freight rail industry. CPKC becomes the third Class I railroad and 10th member of the coalition, joining Bunge North America, GATX, Genesee & Wyoming Inc., Norfolk Southern Corporation, Railroad Development Corporation, The Greenbrier Companies, TrinityRail, Union Pacific Railroad, and Watco Companies LLC. "We are pleased to be a part of RailPulse and to contribute to accelerating adoption of railcar telemetry in North America," said John Brooks, CPKC Executive Vice President and Chief Marketing Officer. "This collaboration aligns with our commitment to innovation and will play an important role in modernizing our customer experience and provide benefits to the entire supply chain by advancing safety and improving operations." The key objectives of RailPulse include: Industry Wide Telematics Infrastructure: The initiative facilitates collaboration among industry players by creating a secure, trusted, standardized, and vendor neutral railcar telematics infrastructure that spans the entire North American freight rail industry. Data-Driven Transformation: By building an information infrastructure that harnesses data from GPS and railcar-mounted sensors and prioritizing data standardization and storage in the cloud, RailPulse focuses on delivering actionable insights enabling enhance service levels, visibility, safety, sustainability, and productivity. Enhanced Service through Visibility: Through RailPulse, the integration of telematic sensors on railcars enables the generation of valuable data, empowering shippers with real-time visibility of railcar and goods movements to make informed decisions and optimize their operations. "We welcome CPKC to the RailPulse Coalition. Together, we will drive transformative change in the rail sector by combining our strengths and fostering a culture of innovation," said David Shannon, General Manager of RailPulse. "This partnership underscores our commitment to shaping the future of rail transportation." Response from RailPulse Members: "The Board of RailPulse is very excited to welcome CPKC," said Mike McClellan, RailPulse Board Chair and Sr. VP &Chief Strategy Officer at Norfolk Southern. "CPKC brings a breadth of railroading knowledge to the table, and the insights that CPKC will be able to contribute from operating in 3 countries will be invaluable as we drive RailPulse to serve all of North America." Forward looking information This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws in both the U.S. and Canada. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as "financial expectations", "key assumptions", "will", "anticipate", "believe", "expect", "plan", "should", "commit", "outlook", "guidance" or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited, to statements about future technology and the potential for telematics technologies to increase safety, efficiency, and visibility across North America's freight rail industry and CPKC's expected benefits from such future technology. The forward-looking information contained in this news release is based on current expectations, estimates, projections, and assumptions, having regard to CPKC's experience and its perception of historical trends. Forward-looking information involves many inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the factors that are detailed from time to time in reports filed by CPKC with securities regulators in Canada and with the U.S. Securities and Exchange Commission (SEC) in the United States. Reference should be made to "Item 1A - Risk Factors" and "Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements" in CPKC's annual and interim reports on Form 10-K and 10-Q. Any forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CPKC undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.

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Operations, Transportation

Jacobs to Provide Technical Advisory for M28 Motorway in Ireland

ITS Logistics | December 19, 2023

Jacobs has been selected by Cork County Council as technical advisor for the new M28 motorway linking the N40 South Ring Road to the Port of Cork in Ringaskiddy, in County Cork, Ireland. Jacobs' scope includes consultancy services during the design, construction and closeout phases of the project. The proposed M28 Cork to Ringaskiddy motorway project is the upgrade of approximately 7.5 miles (12 km) of the N28 National Primary Route to help improve its safety, capacity and accessibility. Forming part of the Core Trans‐European Transport Network, the Transport Infrastructure Ireland-funded scheme will enable the strategic development of the Port of Cork's facilities in Ringaskiddy, while also supporting the economic development of the area locally, regionally and nationally. The motorway is scheduled to be completed by 2030. "Jacobs brings multi-disciplinary integration and delivery experience from a wide range of critical transportation infrastructure projects in Ireland and globally to support this project," said Jacobs Senior Vice President Kate Kenny. "We're focused on helping Cork County Council deliver an improved, user-centric, sustainable road network that connects communities more effectively, and drives important social and economic benefits in the region." Cork County Council Chief Executive Valerie O'Sullivan added: "This development forms part of the government's Project Ireland 2040 and will bring both safety and economic benefits. The scheme includes a number of active travel measures with an interface with the Lee to Sea greenway, together with an extension to the existing Ballybrack Valley Pedestrian and Cycle Scheme in Douglas." Jacobs has more than 1,200 employees in Ireland serving clients in sectors – most notably Advanced Manufacturing, Infrastructure, and Energy & Environment. Projects include the National Transport Authority's BusConnects Dublin program, Irish Rail's East Coast Railway Infrastructure Protection Projects program – the largest coastal protection scheme in North-Western Europe, the WuXi Biologics Drug Substance Manufacturing Facility and Edwards Lifesciences Greenfield Manufacturing Facility. About Jacobs At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $16 billion in annual revenue and a talent force of approximately 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector.

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Operations, Sustainability, Transportation

Revoy Launches the Ultimate Scalable Sustainability Solution for Trucking

PR Newswire | February 01, 2024

<p>Revoy, a simple and truly viable solution to decarbonize the trucking industry, today announces the launch of the Revoy EV, a simple add-on for fleets that enables an easy transition to full EV without alterations to trucks or trailers. Pioneering a new sector of commercial trucking EV solutions, Revoy's technology improves fuel efficiency from 6 - 8 mpg to 20 - 35+ mpg, representing a 70 - 90%+ reduction in emissions. Economically, adding a Revoy EV to a tractor enables companies to save thousands of dollars in fuel per truck annually, inclusive of Revoy fees.</p><p>Currently, commercial trucks and fleets account for 6.7%¹ of all of the United States' GHG emissions. Revoy is helping reduce this and propel businesses towards net zero goals. Revoy EVs are on the road today actively decarbonizing trucks, and are expanding to more areas this year.</p<p>"Trucking contributes 6.7% of all greenhouse gas emissions in the US. The current approach of wholly replacing diesel engines with batteries and electric motors is too abrupt of a transition for such a critical and underappreciated part of our economy," said Ian Rust, CEO and founder of Revoy. "EV tractors are more expensive to purchase and recharge compared to diesel, and no driver can spare the time to stop and charge for hours. Luxury passenger vehicles are not engineered to generate ROI and depreciate quickly. Making commercial vehicles the same way poses a risk to any fleet that adopts them. Revoy has engineered an electric commercial vehicle that is built as an asset first. The entire vehicle is swappable in under five minutes, so no waiting on a charge, and can operate on any trucker's existing vehicle with no modifications."</p><p>Revoy handles all infrastructure and charging, and its adaptable technology offers ease of use, saved time, low upfront costs, and ongoing fuel benefits. Revoy allows truckers to drive up to 235 miles on electric power using a 525kWh LFP battery pack.</p<p>Solving for sustainability in the trucking industry is complex, but simplicity is at the core of Revoy's innovation. Revoy's EV technology is adaptable and easy to apply to existing fleets, with the option to use as needed. The process is simple: trucks visit a Revoy swap station, where an attendant swaps the Revoy EV while the driver relaxes in the truck or shops inside.</p><p>Revoy's EV technology addresses the sustainability and competitive business needs of trucking fleets and companies committed to net zero goals through the following</p> Dramatic MPG Improvement: At 235 miles of range, Revoy can take a 6 - 8 mpg truck to 20 - 35+ mpg. At a shorter range, for example 150 miles, mpg can exceed 30 - 40 mpg. This is a transformational step change in fuel efficiency. Electric Range Extension on Electric Trucks: Revoy allows truckers to drive up to 235 miles on electric power using a 525kWh LFP battery pack, and can be "recharged" nearly instantly with a Revoy swap. Long charges or battery-destroying fast charges are no longer necessary. An 800kWh long-range version will be coming out in May 2024. No Time Wasted On The Road: Revoy electric vehicles instantly convert any diesel truck into a hybrid, easily attaching to the fifth wheel automatically. Truckers can swap at an available station for a fresh battery in less than five minutes, which is 90% faster than traditional EV charging. Fleets can share Revoy EVs based on subscription tier for immediate savings, without the risk. Zero Payload Impact: The Revoy EV has no impact on payload. Trucks encountering loads that are too heavy to accept the extra battery weight can revert to diesel in minutes by dropping the Revoy EV. Compliant with Length Laws: The Revoy EV requires no additional CDL endorsements and is compliant with all length restrictions on the national highway network. Safety Features Built Into Every Vehicle: Revoy offers intelligent auto-correction to prevent rollovers, flipping and jackknifing. The Revoy EV has an extra set of brakes to automatically engage more stopping power when driving down mountains, blind spot detection and automatic reversing with intelligent computing from a series of sensors with notifications through Revoy's mobile app. <p>Revoy was founded by Ian Rust, an innovator, founder and mechanical engineer with over 12 years of experience in clean transportation and sustainability, and is backed by YCombinator, Transition Global, and Liquid2 Ventures. The team includes over 100 years of experience from GM, Tesla, Embark Trucks, Waymo, and the European Space Agency, among others. Revoy's technology is made in the USA, FMVSS compliant, and compliant with all length and weight (bridge and GVW) regulations.</p>

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Logistics, Supply Chain

Delta Cargo launches e-commerce solution DeliverDirect in collaboration with SmartKargo

PR Newswire | January 31, 2024

Delta Cargo is excited to announce the launch of its newest product, DeliverDirect, developed in collaboration with SmartKargo. DeliverDirect is a door-to-door delivery service for the U.S. market, offering a competitive and customizable solution for e-commerce retailers seeking to optimize their direct-to-consumer shipping solutions. With DeliverDirect, Delta Cargo pioneers an innovative domestic carrier approach, providing swift service with transparent pricing for e-commerce and small parcel delivery. From initial warehouse pickup to delivery at the end consumer's doorstep, DeliverDirect is a fast, seamless, end-to-end service that upgrades traditional ground or air shipping services utilized by most current e-tailers. Small package shippers will benefit from increased shipping speeds, an uncomplicated pricing structure, proactive alert management, transparent tracking and reporting, and access to Delta's vast domestic network. "We are thrilled to introduce DeliverDirect, our new offer for the small parcel delivery market," shared Alison Ricker, Managing Director, Delta Cargo Global Sales. "Through our strategic collaboration with SmartKargo, DeliverDirect gives e-tailers an alternative transportation solution that fits their customers' requirements, and we envision that this service will prove to be a fast, reliable and cost-effective solution." The DeliverDirect offering can be tailored to shippers' needs with a variety of service innovations that empower customers to customize according to their unique preferences. These service innovations include: personalized pick-up times, geo-fenced notifications for consumers, multiple delivery attempts, signature-required deliveries, proof of delivery with photos, and access to advanced reporting features for a complete comprehensive service that aligns seamlessly with a variety of needs. "E-commerce shippers are looking for simple, faster and more reliable alternatives to deliver their products to consumers. Delta Cargo has a vision for small package delivery that will transform the U.S. market and continue to diversify their already robust offering in the air cargo market. Their innovative approach makes them a fantastic partner for SmartKargo, and we look forward to growing this service together," stated Milind Tavshikar, CEO and Founder of SmartKargo.

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