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WOODCLIFF LAKE, N.J., Feb. 01, 2021 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (Nasdaq: PWFL), a global leader and provider of subscription-based wireless Internet of Things (IoT) and machine to machine (M2M) solutions for securing, controlling, tracking, and managing high-value enterprise assets, announced that its operating subsidiary Pointer Telocation Ltd. (Pointer), a leading provider of telematic services and technology solutions for a wide range of location-based applications, has realized significant momentum in the past year by driving global IoT innovation in the pharmaceutical and food distribution market. Pointer has leveraged its best-in-class IoT solutions to secure multiple new contracts with companies.
Pointer’s IoT solution was chosen by LogistiPharm to monitor and control the temperature and humidity during the storing and distribution of pharmaceuticals to LogistiPharm customers.
LogistiPharm specializes in the distribution and shipping of medical equipment and medicines across Israel while complying with the strict license conditions set forth by the Israeli Ministry of Health. With a network of drug-storage services, transportation to stores and pharmaceutical departments, LogistiPharm needed to ensure the highest and safest quality control and monitoring for all products. Pointer was tapped to ensure a reliable and professional service in accordance with regulatory standards. Pointer’s technology monitors and controls the temperature and humidity conditions throughout the storage and distribution processes to ensure safety of all goods during transportation.
Hafuz specializes in providing a range of transportation, courier and distribution services to institutional, business, and private customers alike. It also serves as a subcontractor for a leading medical cannabis company in Israel, transporting medical cannabis from logistics centers to licensed pharmacies.
Pointer's IoT solution was selected to verify the temperature of medical cannabis shipments to ensure quality control and regulatory compliance.
Pointer's system provides real-time data and alerts regarding the storage conditions of cargo while locating and tracking vehicles in real-time, including the opening and closing of the safe in which medical cannabis is stored. Pointer’s technology also helps Hafuz comply with the strict standards required for the transportation of medical cannabis.
Bactochem is a leading Israeli laboratory that provides advanced analytical and biological testing services with applications in microbiology, chemistry, and phytopathology. It serves Israel’s water, environment, agriculture, and pharmaceutical industries. Pointer's IoT solution was selected to monitor and control the temperature of stored samples in refrigerators, freezers, cold rooms and clean rooms.
Vertical Field is a leading ag-tech company that develops innovative vertical solutions for the urban ecosystem. Using cutting-edge technology and smart monitors, they are able to grow lush greenery and clean agriculture in optimum conditions, both indoors and outdoors with minimal maintenance. Pointer was chosen by Vertical Field to provide IoT sensors to monitor and manage the temperature and humidity of vegetative produce in its portable urban farm. Ensuring proper climate in these containers safeguard the production of quality produce, readying it for sale to food chains in the U.S. and around the world.
Pointer’s CelloTrack Nano, a smart cellular communication device that provides real-time information to a network of operators is the technology enabling these applications. The system reports highly accurate location data and includes a smart wireless hub and sensors that operate on Bluetooth Low Energy technology.
The Nano's ultra-sensitive sensors are suitable for monitoring high-value goods, cold chain, supply chain process and more by detecting changes in a wide variety of parameters, including temperature, humidity, light and magnetism. All solutions remain in compliance with the regulatory requirements and standards in the Israeli pharmaceutical field (e.g., GAMP5, FDA 21 CFR Part11, EU Annex 11, and Israel Ministry of Health Procedure 126).
Pointer integrates IoT solutions in Israel in the production lines of leading customers in the food industry, in the control of drug deliveries by leading manufacturers and pharma chains, in the control of refrigeration coolers by a leading HMO and as a solution in the field of agricultural equipment control. The solutions are integrated with advanced software, dashboards, and user applications.
PowerFleet® Inc. (NASDAQ: PWFL; TASE: PWFL) is a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets. The company is headquartered in Woodcliff Lake, New Jersey, with offices located around the globe. PowerFleet’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. Our offerings are sold under the global brands PowerFleet, Pointer, and Cellocator. For more information, please visit www.powerfleet.com, the content of which does not form a part of this press release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which may include information concerning our beliefs, plans, objectives, goals, expectations, strategies, anticipations, assumptions, estimates, intentions, future events, future revenues or performance, capital expenditures and other information that is not historical information. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties are detailed from time to time in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2019. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date they are made and are expressly qualified in their entirety by the cautionary statements included in this press release. Except as may be required by law, we undertake no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances occurring after the date they were made or to reflect the occurrence of unanticipated events, or otherwise.
PowerFleet Company Contact
Ned Mavrommatis, CFO
PowerFleet Media Contact
N6A on behalf of PowerFleet
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Gateway Investor Relations
Released February 1, 2021