Puget Technologies, Inc. to Introduce Proprietary Software That Utilizes Artificial Intelligence to Optimize Distribution and Transportation Systems
April 30, 2021 at 04:10 pm EDT
Share
Puget Technologies, Inc. announced that the company’s Chief Technologies Officer (CTO), Victor Germán Quintero Toro has contributed proprietary software to Puget, subject to retained royalty rights, designed to improve the functioning of logistics in transportation and distribution systems. The methodology involved is believed to be unique and subject to protection as trade secrets, however, Puget may elect to reinforce such protection through patents in the near future. The software has already been beta tested in the public transportation system of the City of Manizales in the Republic of Colombia, where it achieved a 30% reduction in hydrocarbon emissions as a result of better route management. The beta test results were presented at the Congreso Latino-Iberoamericano de Investigacion de Operaciones (CLAIO), and a summary was published in the publication Annals of Operations Research and in the Journal of Heuristics. Puget intends to commercialize this technology through licensing agreements, leveraging Puerto Rico as a springboard for rollout to Latin America and other parts of the world. The transportation and distribution problems on the Island, aggravated by unfortunate recent weather disasters, provide an opportunity for the technology to make a significant positive impact there. In addition, because of the substantial incentives provided by the Puerto Rico Incentives Code (Law No. 60 of July 1, 2019), Puget believes that the Commonwealth of Puerto Rico would be an ideal site as a worldwide research and development center, which will enable Puget to have a local presence as the team works directly with local business and government leaders to improve the Island’s infrastructure.
Puget Technologies, Inc. is a holding company. The Company is focused on acquisitions, strategic investment strategies and operational support. The Company intends to provide a one-stop shop for companies who need access to both capital and growth resources. The Companyâs investment focus ranges from traditional industries, such as healthcare that are ripe for business models to markets that solve societal problems, such as climate change.