Digital freight network recognized for technical innovation in advancing low-carbon solutions in the long-haul freight industry
Convoy, the nation’s most efficient digital freight network, has been named a 2021 BloombergNEF Pioneer, an annual award announced by Bloomberg, the global business and financial information and news leader, recognizing 12 game-changing companies advancing the low-carbon economy.
“To be recognized by BloombergNEF is a huge honor and highlights the importance of Convoy’s mission to transport the world with endless capacity and zero waste,” said Convoy Co-founder and CEO Dan Lewis. “Today, more than 72 million metric tons of wasted CO2 are generated by empty trucks; if the entire industry were to adopt Convoy’s technology, it would reduce CO2 emissions by 32 million metric tons, the equivalent of taking 6.9 million cars off of the road annually. Convoy is pioneering the movement in efficient freight and we’re just scratching the surface of what’s possible.”
Convoy is committed to building the most efficient supply chain possible, lowering costs for shippers, increasing earnings for drivers, while saving the environment. Waste contributes to higher costs in nearly every industry, but in freight, the stakes are even higher as more fuel is consumed, more carbon is emitted, and drivers spend more hours sitting idle. Convoy’s industry-leading Automated Reloads program algorithmically groups multiple full-truckload shipments for carriers, reducing empty miles from the industry standard of 35% to 19%. To date, Convoy has eliminated 2.5 million pounds of carbon emissions for its customers.
Now in its 12th year, BloombergNEF Pioneers recognizes the most impactful and original technological innovations with the potential to accelerate global decarbonization. Winners were selected by a panel of BNEF experts from a pool of more than 250 applicants from across the world.
“This year we selected three specific areas – heavy-duty transport, materials and the climate – where BNEF believes technology must play an important role in decarbonization,” said Claire Curry, selection committee co-chair and head of digital industry research at BloombergNEF. “While much of transport will electrify or turn to green hydrogen, the heavy-duty goods sector will continue burning fossil fuels for years to come. This makes optimizing route planning, reducing idle time and eliminating empty miles truly essential in the near-term.”
Businesses that want to learn more about how they can reduce carbon emissions in their supply chain can email firstname.lastname@example.org. We’d love to talk about how we can make a difference together.