HEVO Inc. and Fleet Tracking Technologies Co., Ltd. Announce Strategic Partnership to Deploy Wireless Charging and Fleet Electrification Solutions Across Saudi Arabia and the Middle East

BROOKLYN, N.Y. and AL KHOBAR, Saudi Arabia, May 21, 2026 /PRNewswire/ -- HEVO Inc., a New York-based leading developer and Tier 1 supplier of patented Rezonant™ wireless charging hardware and the Journey™ software platform, and Fleet Tracking Technologies Co., Ltd. (FTT), a Saudi Arabian leader in fleet management, telematics and logistics technology, today announced a strategic partnership to commercialise wireless charging and automated depot solutions across the Kingdom of Saudi Arabia and the broader Middle East and Africa region.

The partnership aligns HEVO's UL-certified and SAE-qualified wireless charging systems with FTT's extensive regional footprint, regulatory certifications and long-standing vendor registrations with major industrial operators in the Kingdom, including leading energy, utilities, and infrastructure organisations, through its affiliate Al-Khodari Industrial Trading & Services (KITS). Together, the companies will pursue joint customer engagements, pilot deployments and scaled commercial programs for fleet operators, OEMs and autonomous mobility platforms.

The collaboration is formalised under a newly executed Memorandum of Understanding (MOU) that outlines joint engineering workstreams, commercial coordination and a pathway toward a definitive distribution and integration agreement.

"Saudi Arabia and the broader Middle East are entering a decisive phase of fleet electrification and autonomous mobility," said Jeremy McCool, Founder and CEO of HEVO. "FTT's regulatory position, operator relationships and deep telematics expertise make them an ideal partner for regional deployment of our Rezonant™ wireless charging hardware and Journey™ platform. Together we will deliver automated, resilient and operator-ready charging solutions that accelerate EV and AV adoption across the region."

"HEVO's technology is a natural fit for the operational needs of our customers," said Hazem Saleh, Chief Executive Officer of FTT. "Wireless charging, automated depot workflows and integrated telematics are essential to the next generation of fleet operations in the Kingdom. This partnership positions us to bring advanced, market-ready solutions to industrial operators, logistics fleets and emerging autonomous vehicle programs."

Partnership Scope and Regional Deployment Plan
Under the MOU, HEVO and FTT will collaborate on the following initiatives:

• Regional distribution and integration of HEVO's Rezonant™ hardware and Journey™ platform across Saudi Arabia and the Middle East and Africa
• Joint engineering workstreams including telematics integration, API alignment, depot workflow integration and operator-specific configuration
• Identification and execution of a named pilot deployment with a globally recognised industrial or energy enterprise operating in the Kingdom, to serve as a flagship regional reference installation
• Coordinated commercial engagement with logistics fleets, OEMs and autonomous vehicle developers
• Joint pursuit of regulatory approvals and certifications required for wireless charging deployment in the Kingdom
• Co-development of customer-specific hardware or software variants where commercially warranted

The Parties have also outlined a milestone-based roadmap that includes joint site visits, execution of a distribution and integration term sheet, initiation of regulatory coordination, confirmation of a pilot site and commencement of the first commercial deployment within 12 months of the MOU's effective date.

Strategic Investment Alignment
The MOU also contemplates a potential strategic equity investment in HEVO by FTT or its affiliates. Any such investment would be structured around the achievement of agreed commercial milestones to ensure long-term alignment between the companies.

About Fleet Tracking Technologies Co., Ltd. (FTT)
FTT is a regional leader in fleet management, telematics and logistics technology with active operations across Saudi Arabia. The company holds certification issued by the Transport General Authority (TGA), integration with WASL Platform and maintains vendor registrations with major industrial operators in the Kingdom through its affiliate Al-Khodari Industrial Trading & Services (KITS). FTT provides SaaS and hardware solutions, API-first telematics integration and deployment capabilities that support large-scale fleet modernisation and electrification programs.

About HEVO Inc.
HEVO is a New York-based leading developer and Tier 1 supplier of patented Rezonant™ wireless charging hardware and the Journey™ software platform for electric and autonomous vehicles. HEVO's UL-certified and SAE-qualified systems enable automated depot operations, resilient fleet charging and next-generation mobility platforms. Learn more at HEVO.com.

Forward-Looking Statements
This press release may contain forward-looking statements. All statements other than statements of historical fact are forward-looking statements and involve risks and uncertainties that may cause actual results to differ materially. Except as required by law, neither HEVO nor FTT undertakes any obligation to update forward-looking statements.

Media and Commercial Inquiries
HEVO Press and Commercial Inquiries
[email protected]

HEVO Investment Inquiries
[email protected]

FTT Media and Commercial Inquiries
[email protected]

SOURCE HEVO