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CALGARY, AB / ACCESSWIRE / March 20, 2020 / Sparta Capital Ltd. (TSXV:SAY) (the "Corporation", "Sparta Group" or "Sparta") a company focused on energy transformation and the upcycling of waste streams, has just signed a market development Memorandum of Understanding ("MOU") with TruckSuite™ LLC to form TruckSuite Canada™ Ltd.
TruckSuite™ LLC of Winston Salem, North Carolina, is a comprehensive technology-based, transportation support company that can offer the Owner/Operator all the truck ownership benefits usually exclusive to large fleets. At the heart of the TruckSuite™ package is a very powerful bi-directional data processing system that allows TruckSuite™ to communicate in real-time with the inter-workings of every vehicle in the network, on a 24/7 basis. The data gathering, in combination with various industry tools, enables TruckSuite™ to help significantly reduce the Owner/Operator's costly vehicle downtime - and maximize valuable vehicle uptime. Successful participation in the TruckSuite™ program means the vehicle operator can - Just Drive!
Under the terms of the MOU, Sparta will be responsible for operational development of TruckSuite Canada™, with the further responsibility of adding both technology and financial partners. Sparta's Supernova division was previously in development of their TreeFrog Transportation Optimization™ system, which is similar to the technology offered by TruckSuite, so a mutual technology-transfer agreement also forms an important component of the MOU.
"We have been very focused on providing Internet of Things solutions to improve operational efficiencies while upcycling waste energy for buildings and factories; however, now we will be able to do the same with transportation by marrying up the trucks' Control Area Networks (i.e. CANbus) with the Internet, artificial intelligence algorithms, and the suite of adaptive solutions presently provided under TruckSuite™. As we are faced with new realities brought on by the global COVID-19 pandemic, it is more important than ever for advanced technologies to be integrated into fleets around the globe," said Sparta Group President & CTO, John O'Bireck. He went on to say "On behalf of all citizens, a big shout out is in order to all of our truckers who are keeping our supply chains open. Can't thank you enough."
TruckSuite Canada™ plans to help drivers obtain quality trucks and warranties, as well as tools to provide access to the financing program and even driving school tuition. A study prepared for the Canadian Trucking Association estimates a country-wide professional truck-driver shortage of 34,000 by 2024; forming a huge entrepreneurial opportunity for more drivers.
"We've put a lot of time and thought into creating this comprehensive program, so it's great to be joining forces with a company like Sparta. The Sparta team shares our vision of assisting the transportation sector with the added benefit of innovative technology that can complement TruckSuite™ to help reduce fuel consumption and greenhouse gas emissions," said Lynn Murphy, President and CEO of TruckSuite™ LLC.
TruckSuite™ is a technology-driven support program that provides fleet Owners/Operators with many of the necessary tools to be competitive in their market. TruckSuite™ offers comprehensive maintenance, including roadside emergency assistance; emergency repair with competitive pricing for parts and labour; complete warranty coverage; as well as TripVision®, an integrated vehicle health and safety management system that presents vital information in an easy-to-understand format saving both time and money. TruckSuite™ encourages driver retention between the fleet and independent owner/operator. A secure portal allows fleet Owners/Operators to store any truck-related documents in a safe, easy to access place. For additional information please got to www.trucksuite.com.
Sparta Group (a.k.a. Sparta Capital Ltd.) is a company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions, and increase operating efficiencies in various industries. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning and other shared services to its independent businesses. Sparta is a publicly traded company listed on the TSX Venture Exchange under the symbol "SAY". Additional information is available on our website at www.spartagroup.ca or on SEDAR at www.sedar.com
For more information contact:
John O'Bireck, President
Email: [email protected]
Telephone: (905) 751-8004
This above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE: Sparta Capital Ltd.