ABI Research Ranks Powerfleet as the World’s No. 1 Commercial Cold Chain Solution

Competitive ranking recognizes Powerfleet’s cold chain offering as the global leader in the space, citing its Unity platform as a key differentiator

WOODCLIFF LAKE, NJ – Sept. 17, 2024 – Powerfleet, Inc. (Nasdaq: AIOT) today was named the number one global leader in cold chain monitoring solutions, according to a competitive ranking assessment by ABI Research. The study from ABI Research assessed nine cold chain software vendors to provide an independent third party ranking that considered key trends in the market, including the growing demand for real-time monitoring, adoption of Internet of Things (IoT) and advanced sensors, as well as other advanced analytics and regulatory compliance.

With cold chain logistics involving unique complexities and challenges that extend beyond standard logistics operations, success hinges on meticulous management, maximum control, and real-time temperature and humidity monitoring. From starting point to destination, Powerfleet addresses these intricacies, creating a comprehensive cold chain offering by integrating IoT tracking devices, refrigeration units, and environmental sensors into one purpose-built smart trailer solution.

"With Powerfleet’s commitment to delivering innovative cold chain solutions, we’re happy to recognize them as the overall leader,” said Adhish Luitel, Principal Analyst at ABI Research. “Their groundbreaking innovations, coupled with robust implementation strategies, have allowed its Unity platform to be implemented across a wide range of cold chain fleets, driving our industry forward and improving customer experiences."

The assessment named Unity, Powerfleet’s SaaS-based, data-agnostic platform, as its key differentiator. The platform ingests data from any IoT device, OEM, or external data source and then applies AI and machine learning to deliver actionable insights for informed decision-making, all within a single pane of glass. Unity also has a deep bench of integration capabilities. This allows customers to integrate real-time temperature data, refrigeration unit monitor/control, and fleet asset management into surrounding business systems for reliable product assurance, compliance verification, and visibility.

"As the business landscape continues to evolve and customer demands change, we remain committed to offering the most advanced cold chain solutions and solving the pain points businesses across the industry face every day,” said Jonathan Bates, Chief Product Officer at Powerfleet. “Being recognized as the overall leader for our cold chain offerings underscores our continued commitment to unifying essential operations, consolidating diverse data sources, and providing world-class solutions all with a customer-first approach. We look forward to continuing to help drive the industry forward and grow our customers’ businesses.”

Powerfleet’s cold chain solution is purpose-built for an abundance of use cases, including ensuring food safety during transportation, reducing food waste, preventing chemical degradation during storage, safeguarding the quality of perishables, and maintaining product integrity, quality, and freshness.

To learn more about Powerfleet and its cold chain capabilities, please visit: https://www.powerfleet.com/solutions-for-cold-chain-logistics/.

ABOUT POWERFLEET

Powerfleet (Nasdaq: AIOT; JSE: PWR; TASE: PWFL) is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry. With more than 30 years of experience, Powerfleet unifies business operations through the ingestion, harmonization, and integration of data, irrespective of source, and delivers actionable insights to help companies save lives, time, and money. Powerfleet's ethos transcends our data ecosystem and commitment to innovation; our people-centric approach empowers our customers to realize impactful and sustained business improvement. The company is headquartered in New Jersey, United States, with offices around the globe. Explore more at www.powerfleet.com.

ABOUT ABI RESEARCH

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to Powerfleet’s beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond Powerfleet’s control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact could be forward-looking statements. For example, forward-looking statements include statements regarding prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion, or other financial information; emerging new products; and plans, strategies, and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the ability to recognize the anticipated benefits of the transaction with MiX Telematics; the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for Powerfleet’s products to continue to develop, the inability to protect Powerfleet’s intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions and other risks detailed from time to time in Powerfleet’s filings with the Securities and Exchange Commission, including Powerfleet’s most recent annual report on Form 10-K. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Powerfleet. Unless otherwise required by applicable law, Powerfleet assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether a result of new information, future events, or otherwise.

Powerfleet Investor Contacts

Carolyn Capaccio and Jody Burfening
LHA Investor Relations
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