Powerfleet LV-500 and LV-710 Honored for Excellent Innovation in Burgeoning Internet of Things Market Segment

WOODCLIFF LAKE, N.J., Aug. 06, 2021 (GLOBE NEWSWIRE) — Powerfleet, Inc. (Nasdaq: AIOT), a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, has received the 2021 IoT Evolution Asset Tracking Award for its LV-500 solar tracking solution with the LV-710 freight camera from IoT Evolution World and IoT Evolution Magazine, the leading print and online voices of the high-growth Internet of Things marketplace. The award honors excellence in innovation utilizing IoT technologies to automate asset tracking functions to increase efficiencies, reduce theft, or optimize utilization of the asset.

The Powerfleet LV-500 is the industry’s first multi-powered asset tracking solution, leveraging solar panels, supercapacitors and long-lasting primary batteries for unmatched service life and critical event visibility. The LV-500 provides visibility to assets like trailers and containers to improve utilization, security, optimize fleet size, and drive customer satisfaction. The Powerfleet LV-710 addresses a critical gap in the supply chain for freight transportation providers, shippers and supply chain stakeholders to gain greater visibility to the status of their freight, container or trailer through digital imaging, environmental sensors, and real-time updates. It also provides accurate visual proof of the empty and loaded status of trailers, trailer cube utilization, and aids in more accurate customer billing. When paired with the LV-500, these captured status events can be transmitted in near real-time, processed through machine learning algorithms and integrated into Transportation Management Systems (TMS).

“At Powerfleet, we focus our R&D efforts on industry changing innovations and we are excited to be selected by TMC and the judges at IoT Evolution for this industry-leading award,” said Chris Wolfe, CEO of Powerfleet. “The LV-500 and LV-710 are two products that have been extremely popular with prospects and customers, especially as they address the imminent 3G sunset and evaluate the latest technology for upgrading their asset tracking and monitoring solutions. We’re delighted to see our engineering prowess translate into a prestigious award win.”

“It is my pleasure to recognize Powerfleet with an IoT Evolution Asset Tracking Award for its continued innovation,” said Carl Ford, CEO & Community Developer for IoT Evolution. “As a leader in this rapidly evolving industry, I look forward to seeing Powerfleet’s future successes.”

About Powerfleet
Powerfleet® Inc. (NASDAQ: AIOT; 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.

Powerfleet Company Contact
Ned Mavrommatis, CFO
(201) 996-9000

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Gateway Investor Relations
(949) 574-3860

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Sasha Dookhoo

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