Initiative Will Employ a Holistic Approach on
Company’s Path to Carbon Neutrality and Providing Green Logistics
Solutions for Clients on a Global Scale
20Cube Logistics Pte. Ltd. (“20Cube”), a Singapore-based
software-enabled international supply chain orchestrator, today
announced it has selected Ramboll, a global architecture,
engineering and consultancy company founded in Denmark in 1945,
with world-leading expertise in the energy and environment space,
to accelerate its path to carbon neutrality through a
sustainability framework of comprehensive reports, plans and
initiatives for carbon emission reduction.
According to a McKinsey report, while the consumer sector will
see a five percent annual growth rate, Consumer-Packaged-Goods
(CPG) companies will have to reduce their greenhouse-gas emissions
by a stark 92% by 2050 in order to achieve global climate goals.
Logistics partners will play a key role in helping CPG companies
achieve this goal. Companies are choosing to decarbonize by
designing business strategies and operation plans that deliver
lower carbon emissions.
Following the Greenhouse Gas Protocol, the world’s most
widely-used greenhouse gas accounting standard, 20Cube Logistics
will develop a sustainability framework and full emissions
inventory incorporating Scope 1 (emissions from sources that an
organization owns or controls directly), Scope 2 (emissions that a
company causes indirectly) and Scope 3 (emissions that are not
produced by the company itself, but by those up and down its value
chain) to understand its full value chain of emissions and focus
efforts on the greatest reduction opportunities. The Company has
already reduced emissions substantially under Scope 1 and 2 through
its operating model and digital approach.
With decades of experience and expertise, Ramboll will support
20Cube Logistics’ goal of becoming carbon neutral through a series
of comprehensive strategies, plans and initiatives in Scope 1, 2
and 3 of carbon emission reduction. Critical efforts will involve
transitioning away from fossil fuels, scaling up renewable energy
share in total energy consumption, transitioning away from
traditional freight handling materials to sustainable alternatives,
introducing necessary measures and adopting strategic external
sustainability partnerships.
“Supply chains play a major role in global carbon emissions and
with global trade increasing it has become imperative for the
industry to undertake tangible initiatives to lower carbon
footprints and find sustainable alternatives,” said Mahesh
Niruttan, Founder & CEO of 20Cube Logistics. “As a global
supply chain solutions provider, we see this as an opportunity to
contribute to this ambitious global goal. With our mission to ‘Make
Trade Easy’, green logistics is an extension of our responsibility
which will address the carbon emissions of our clients, and in turn
also reduce 20Cube Logistics' emissions.
“We believe that a robust sustainability philosophy and a
framework has become a necessity for organizations. One of our
founding intentions has been to become a leading player in the
industry towards sustainability through zero emissions. Our
operating model was designed to achieve a material reduction
compared to the industry norms, and we now intend to take our
vision to the next level of carbon neutrality. We are excited to
have engaged Ramboll who will bring in best practices and emerging
new technologies to accelerate us toward our goals,” concluded
Niruttan.
Juliana Ding, Head of Sustainability at Ramboll in Asia Pacific,
added, “We are impressed by 20Cube Logistics’ commitment to
building and implementing policies and frameworks to achieve their
sustainability goals, following our initial assessment. We are
pleased to be entrusted by 20Cube Logistics to support them along
their ambitious and impactful journey and are confident that with
our global leading expertise and deep local knowledge, we are the
right partner to drive sustainable changes together with our
client. This will be an ongoing journey, and we expect to complete
our Phase I assignment in the next six months. Ramboll will engage
three senior members of our team for this assignment.”
Mr. Ranjan Kedia, Business Head for India, added, “As the
largest emitter within 20Cube Logistics, the India business unit
will play a significant role in achieving our sustainability goal.
There are several initiatives already underway towards this which
will bring tangible results in the short and near terms. We look
forward to Ramboll’s assistance to accelerate our vision towards
carbon neutrality.”
About Ramboll:
Ramboll is a global architecture, engineering and consultancy
company founded in Denmark in 1945. Our 17,000 experts create
sustainable solutions across Buildings, Transport, Energy,
Environment & Health, Water, Management Consulting and
Architecture & Landscape. Across the world, Ramboll combines
local experience with a global knowledge base to create sustainable
cities and societies. We combine insights with the power to drive
positive change for our clients, in the form of ideas that can be
realized and implemented. We call it: Bright ideas. Sustainable
change. For more information, please visit www.ramboll.com.
About 20Cube Logistics Pte. Ltd.
20Cube Logistics is a software-enabled international supply
chain orchestrator from purchase order (PO) to point of delivery
(POD) with a technology-driven, proven proprietary system and key
presence at over 60 locations in Asia, Australia, and East Africa.
20 Cube has over 600 employees. 20Cube Logistics was built from the
ground up over the past 10 years on a disruptive software, workflow
and control tower driven platform. 20Cube Logistics’ platform is
centered around MyHubPlus, which captures data from every part of
the supply chain to provide customers with unprecedented real-time
visibility, alerts, exception management and reporting. Its suite
of freight forwarding, intelligent warehousing/distribution,
customs and trade compliance solutions have resulted in significant
savings from better container utilization, load balancing,
predictability, and logistics process management. For more
information visit www.20Cube.com.
On October 18, 2022, 20Cube Logistics announced that it has
entered into a definitive agreement to become publicly listed
through a merger transaction with Evo Acquisition Corp. (Nasdaq:
EVOJ), a publicly traded special purpose acquisition company.
Pubco’s ordinary shares are expected to be listed on the Nasdaq
Capital Market under the symbol “TCUB”.
About Evo Acquisition Corp.
Evo is a blank check company formed for the purpose of effecting
a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one
or more businesses. While Evo may pursue an acquisition in any
business industry or sector, it intends to focus its search on
companies in the technology and financial sectors, including
companies with a nexus to Japan. Evo is led by its Chairman,
Michael Lerch, its Chief Executive Officer, Richard Chisholm, its
Chief Financial Officer, Adrian Brindle and Managing Director Jason
Sausto. For more information visit www.evospac.com.
Forward-Looking Statements
Certain statements included in this press release are not
historical facts but are forward-looking statements.
Forward-looking statements generally are accompanied by words such
as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “future,” “outlook,”
and similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include, but are
not limited to, statements regarding estimates and forecasts of
other performance metrics and projections of market opportunity.
These statements are based on various assumptions, whether or not
identified in this press release and on the current expectations of
20Cube’s management and are not predictions of actual performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be
relied on by any investor as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and
will differ from assumptions. Many actual events and circumstances
are beyond the control of 20Cube. Some important factors that could
cause actual results to differ materially from those in any
forward-looking statements could include changes in domestic and
foreign business, market, financial, political and legal
conditions.
These forward-looking statements are subject to a number of
risks and uncertainties, including the ability of 20Cube to compete
effectively in a highly competitive market; the ability to protect
and enhance 20Cube’s corporate reputation and brand; the impact
from future regulatory, judicial, and legislative changes in
20Cube’s industry; and, the uncertain effects of the COVID-19
pandemic or other public health matters; competition from larger
technology companies that have greater resources, technology,
relationships and/or expertise; future financial performance of
20Cube including the ability of future revenues to meet projected
annual bookings; the ability of 20Cube to forecast and maintain an
adequate rate of revenue growth and appropriately plan its
expenses; the ability of 20Cube to generate sufficient revenue from
each of our revenue streams; the ability of 20Cube’s patents and
patent applications to protect our core technologies from
competitors; 20Cube’s ability to manage a complex set of marketing
relationships and realize projected revenues from subscriptions,
advertisements; product sales and/or services; 20Cube’s ability to
execute its business plans and strategy; and those factors set
forth in documents of Evo or 20Cube Logistics Solutions Pte. Ltd.
filed, or to be filed, with SEC. You should carefully consider the
foregoing factors and other documents to be filed by Evo or 20Cube
Logistics Solutions Pte. Ltd. from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
The foregoing list of risks is not exhaustive.
If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that 20Cube does not presently know or that 20Cube
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect
20Cube’s current expectations, plans and forecasts of future events
and views as of the date of this press release. Nothing in this
press release should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements in this press release,
which speak only as of the date they are made and are qualified in
their entirety by reference to the cautionary statements herein and
the risk factors described above. 20Cube anticipates that
subsequent events and developments will cause its assessments to
change. However, while 20Cube may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so, except as may be
required by law. These forward-looking statements should not be
relied upon as representing 20Cube’s assessments as of any date
subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
Participants in the Solicitation
20CUBE LOGISTICS PTE. LTD., (“20Cube”), EVO ACQUISITION CORP.
(“EVO”), and their respective directors, executive officers and
employees and other persons may be deemed to be participants in the
solicitation of proxies from the holders of shares of EVO common
stock in respect of the Business Combination described herein.
Information about EVO’s directors and executive officers and their
ownership of EVO common stock is set forth in EVO’s annual report
on Form 10-K dated March 28, 2022 filed with the Securities and
Exchange Commission (the “SEC”), as amended. Other information
regarding the interests of the participants in the proxy
solicitation will be included in the proxy statement / prospectus
pertaining to the Business Combination which will be filed by
20CUBE LOGISTICS SOLUTIONS PTE. LTD. These documents can be
obtained free of charge from the sources indicated below.
Additional Information and Where to Find It
In connection with the transaction described herein, EVO has
filed and will file relevant materials with the SEC, including the
registration statement / proxy statement. Promptly after the proxy
statement / prospectus is declared effective by the SEC, EVO will
mail the proxy statement / prospectus and a proxy card to each
stockholder entitled to vote at the special meeting relating to the
transaction. INVESTORS AND SECURITY HOLDERS OF EVO ARE URGED TO
READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE
TRANSACTION THAT EVO WILL FILE WITH THE SEC WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
EVO, 20CUBE AND THE TRANSACTION. The proxy statement / prospectus
and other relevant materials in connection with the transaction
(when they become available), and any other documents filed by EVO
with the SEC, may be obtained free of charge at the SEC’s website
(www.sec.gov) or by writing to EVO.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of EVO, the combined company or 20Cube, nor shall there be any sale
of any such securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of the Securities Act of
1933, as amended.
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version on businesswire.com: https://www.businesswire.com/news/home/20230129005049/en/
20Cube Investor Contact: corporate@20cube.com
Evo Acquisition Corp. Investor Contact: Chris Tyson
949-491-8235 EVOJ@mzgroup.us
Evo Acquisition (NASDAQ:EVOJ)
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Evo Acquisition (NASDAQ:EVOJ)
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