T42 strikes deal to develop refrigerated air cargo product

Tracking technology specialist t42 announced its expansion into the refrigerated air cargo supply chain on Monday.

The AIM-traded firm said that in collaboration with a “leading” unnamed global company specialising in cold chain, it aimed to provide innovative tracking solutions to shippers, ensuring the preservation of resources such as food, medicine, and perishable items during air transportation.

It said the partnership would result in the development of a product tailored specifically to the refrigerated air cargo sector.

Both companies' research and development teams would work together to create the solution, using internet of things (IoT) technologies and advanced data analytics.

The board said the product would leverage leveraging real-time monitoring and enhanced security features to give shippers unprecedented control over cargo.

Additionally, the data collected by the product would provide valuable insights for t42’s partnering company, allowing it to gain better analytics of its operations and enhance future offerings.

“The partnership between t42 and our partner demonstrates a powerful synergy, combining our expertise in IoT development with their globally renowned sustainable solutions,” said chief executive officer Avi Hartmann.

“Together, we are reshaping the future of the air cargo industry, revolutionizing the way goods are handled and transported across the globe.

“We are also confident that it will lead to increased revenue opportunities in the years to come following the launch.”

At 1554 BST, shares in t42 IoT Tracking Solutions were down 4.76% at 5p.

Reporting by Josh White for Sharecast.com.